Part 3/14:
From the 1990s to the early 2010s, Las Vegas experienced a meteoric rise. Iconic mega-resorts like the Bellagio, Venetian, and Wynn transformed the Strip into a global luxury destination. Casino stocks soared, with MGM Resorts’ share price increasing by 400% between 2009 and 2018. Caesars Entertainment was considered a Wall Street darling. Construction projects multiplied, and the city basked in opulence, with casino executives confidently asserting their "recession-proof" business model — gambling is eternal, and cash flows are guaranteed.