LAS VEGAS (KLAS) — "Shame on us," the leader of MGM said, reflecting on Las Vegas' high prices, including "the infamous bottle of water" and the $12 coffee at Starbucks.

During an earnings call Wednesday about billions in revenues, overseas casino ventures and the need to diversify the business, MGM President and CEO Bill Hornbuckle had a little self-assessment on his mind.

The high prices of water and coffee are two complaints that came through loud and clear as people explained what they think is wrong with Las Vegas.

One investor asked if there is a growing gulf between the average bargain-loving tourist and the highly valued luxury customer that MGM and other resort companies compete to get. And Hornbuckle said the core answer is yes, but he didn't stop there.

Within the 14-resort

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