One of the Strip’s first luxury properties, the Tropicana was aimed at middle-class guests for most of its life. His ties to organized crime and a changing competitive landscape brought an end to this conspicuous era. It was sold to Ramada in 1979 and, despite ownership changes, operated as a budget resort until its closure.

As Las Vegas visitors now demand more high-end experiences, the city is competing less directly with longtime gambling hubs such as Atlantic City, New Jersey, or Laughlin, Nevada, 90 miles south of Sin City, Belarmino said. Instead, “our guests tell us that they are considering us at the same time they are considering San Francisco and New York, which makes us more valuable compared to destinations of this type,” she said.

The bargains may not be as close as they once were.

“Those $20 nights and no resort fees are probably a thing of the past on the Strip,” said Nicholas Irwin, a colleague of Belarmino at UNLV and research director for the Lied Center for Real Estate. “People are concerned that we are prioritizing this (business) growth over the growth of our children and our workforce.”

UNLV researchers expect the population of Clark County in Las Vegas to grow steadily by 1.6% this year and 1.4% next year, due in part to Californians moving to the area, like Alicia Muscs, 26, who works for a travel booking agency at the MGM Casino New York-New York. She said she moved to the city in April because of the lower cost of living.

Irwin said recent California transplants are, on average, 15% to 19% wealthier than their new neighbors in Nevada, and the influx has put pressure on demand — and prices — for goods and services in the metro area. That could make political waves in Nevada, a hotly contested swing state where both presidential campaigns are vying for voters’ trust on economic issues.