The MGM Put - An Update

http://www.lasvegassun.com/news/2008/apr/07/tourism-juggernaut-shows-signs-slowing-down/

"at a time of year when business conventioneers and tourists head to Vegas for near-perfect weather, the city’s economic engine isn’t firing on all eight cylinders."

and

"After three years of double digit increases in room rates, Las Vegas room rates were down 3 percent in January from a year ago, with occupancy down a percentage point, according to the visitors authority, which says it’s premature to draw conclusions from a month’s worth of data."

I heard that the place was empty for the NCAA tournaments. That's a major revenue generator.