The last time I was in Vegas I asked a taxi driver this exact question. His answer was that fewer and fewer people came to Vegas to gamble so the hotels, resorts, casinos, restaurants, etc. decided to raise their prices. They have tried to re-brand Vegas as a tourist destination for shows, concerts, high end hotels, fancy restaurants and more. It is also an excellent place for trade shows and exhibitions because of the number of hotel rooms, convenient airport and conference centers.
Las Vegas is no longer a cheap place to go for a vacation. It is expensive and really appeals to those with the financial means to pay for overpriced food, hotels, shows, etc. There are some good deals in Vegas like off strip hotels and outlet malls. Even the Walgreens on the strip is twice as expensive as a Walgreens off the strip in the suburbs. I am sure that if you shop around you can find some relatively inexpensive packages to Vegas.
Vegas is certainly interesting to see but it is no longer a must see place in America.
