This Review Journal story reports that the city has lost a whooping $130+ million in canceled convention bookings and related non-gambling revenue (we can only imagine how much this number would grow if you added lost gambling revenue to the total. ouch.)
The ironic thing is that Las Vegas is quickly becoming an amazingly cheap place to go. While I don't gamble, I do enjoy the spectacle of great dining, shows, and the outrageous "lights" of Las Vegas. As a result, I regularly receive offers to go there.
One recent one was for $59 per night rooms at a nice resort on Las Vegas Blvd (the "strip"). Plus, it offered a $20 per day dining credit and half-price Cirque tickets.
What a steal...literally cheaper than the Motel 6 down the street.
Wow, what interesting things that an economic crisis can foster...