As usual rightys want their own facts. The min wage was designed to be a living wage . Who is on it? Average age is 35. Not a teen. Over half are beyond 20. 27 percent are parents . Most are women. Most are southerners.
https://www.nytimes.com/2014/06/10/upshot/minimum-wage.html
If a business fails when the min wage is increased, it is a lot more than just that. The other businesses are still going. Sounds like Trump saying the economy killed his casinos, but all the others are still in business. Just his went under.
Every casino on the Las Vegas strip without exception was in bankruptcy during that period of time.
They ALL went under, jackass.
Recently, Ceaser's Palace, Bally's, The Flamingo, Harrah's, Tropicana, and Hooter's recently emerged from bankruptcy.
Currently in bankruptcy or soon to file are SLS, Lucky Dragon, the Cosmopolitan, the Hard Rock, and the Westin. Quite possibly the Linq, the Rio, and Planet Hollywood could be facing a bankruptcy court soon as well.
The destruction caused by MGM mismanagement is legendary, even among casino owners. Fortunately, Treasure Island has escaped from them in a bankruptcy sale, but the damage has been done. The Pirate Bay show will never appear again.
Currently, MGM owns the Mandalay Bay (the site of the Las Vegas shooter), the MGM Grand, the Delano, the Luxor, Excalibur, New York, the Park, the Aria, the Nomad, the Vdara, the Bellagio (which barely runs its fountains anymore), the Mirage (which barely runs its volcano anymore), and Circus Circus. When MGM Casinos went bankrupt, ALL of these properties were involved.
Despite the revenue running through a major casino in a typical day, there is a TON of expenses, payroll not the least. It's a people business. Behind the glitz and glitter of a single major casino is a team of literally thousands, including dealers, housekeepers, facilities personnel, chefs and cooks, dishwashers, freight handlers, bellhops, drivers, floor managers, security, electronics technicians, slot machine mechanics, cashiers, clerks, chip runners, heavy equipment operators (including money counting machine operators, machinists, forklift operators, etc), waitresses, barmen, legal teams, programmers, salespeople, phone support operators, and on, and on, and on.
And that's not counting the people that don't work in the actual casino but deliver the cards, the dice, the tables, the slot machines, the computer systems, the display systems, the painters, the HVAC repairmen, the FHESP repairmen, the TV repairmen, the cable head installers, the folks that provide the tremendous amount of food consumed in a
single day that is prepared by the in-house chefs, the garbage pickup (do you have any idea how much garbage a casino produces in a single day?!?), the water and sewer, and of course the electrical supply.
It is TOUGH making money in casinos, even for the owners!