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More retirees are spending their golden years in Southern Nevada, and that's becoming a gold mine for the local economy.
More than 17 percent of Clark County's adult population were 65 years and older in 2001, according to the Las Vegas Perspectiue 2002. That number is expected to grow 3.9 percent in 2002, according to Keith Schwer, director of the UNLV Center for Business and Economic Research.
That number, combined with senior travelers who flood the market every year, makes the grayed-haired crowd a bunch to be reckoned with. From homebuilders to casinos, Las Vegas looks to seniors to turbocharge the economy, said Bill Thompson, UNLV Professor of Public Administration.
"We have a growing senior population and they get great bargains on housing here," he said. "If their money is spent here, then it is huge value to the economy."
While Strip hotels and casinos look to draw the retirees and their discretionary incomes, neighborhood casinos also target the older crowd to keep them afloat, especially at slower times, Thompson added.
"The wise casino market aims for people over 50 - when the children are out of the nest. They have maximum earnings potential at that time," he said. "Aged 50-70 -...