Wednesday, July 30, 2008 | 7:19 a.m.
Bloomberg reports that Las Vegas's gambling-driven growth in the 1990s proved irresistible to Starbucks. Las Vegas, which had no Starbucks outlets before 1995, has about 155 now.
Stung by a slowdown in sales, Starbucks is staging the biggest retreat in its history, closing 600 of 11,168 U.S. company-owned and licensed stores. Las Vegas is taking the biggest hit, losing 10 percent of its total. Los Angeles will lose just two of about 56 and New York City 10 of more than 200.
Starbucks' surge and contraction mirror the Las Vegas economy, said Keith Schwer, director of the Center for Business and Economic Research at UNLV.
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