When the economy goes south, trips to Vegas—and with that the outings to the strip clubs—are the first to get cut.
Bloomberg: Leigh Sogoloff, who spends her evenings lap-dancing at Rick’s Cabaret Vegas on Procyon Street, says she’s making half her income of a year ago.
“You don’t shop, you don’t buy stuff you can’t afford,” the 36-year-old Sogoloff said between dances at the Las Vegas club. She has postponed buying a house and is reading Deepak Chopra. “I know how to save money. I’m not a dumb stripper.”
The city that sold Americans on the dream they could lay down a small wager and walk away millionaires is reeling from speculation in the housing market that helped bring down Wall Street. The quick profits that so easily spread from Nevada to Florida, just as casino gambling migrated to 37 states, are now proving what happens in Vegas rarely stays in Vegas.
Las Vegas leads the nation in falling home prices, foreclosures and stalled construction projects. Rick’s Cabaret International Inc., with 20 clubs in seven states and two in Buenos Aires, has lost 74 per cent of its market value this year.
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