I'm in Las Vegas for the Money Show this week.

Las Vegas is a great barometer of the economy. I've been coming to this town since 1983, and every visit provides me with good information about the health of the consumer and the future direction of the market.

While the so-called "sin stocks" (gambling, liquor and adult entertainment) have suffered in this recession, due to tight budgets, limited travel and minimal excess cash flow for consumers, the city is showing signs of a full recovery now. The hotels are packed and cabbies are seeing signs of significant traffic improvement.

Unfortunately, the same is not true with adult entertainment company Playboy Enterprises, Inc. (PLA). This venerable name in publishing lost its luster long ago. And this recession is the last thing the company needed in hopes of recovering from a long slow decline in its business.

Today, Playboy announced a loss of 41 cents per share in the first quarter on weak revenues. The company had sales in the period of $61.6 million., well below the analyst expectation of $71.65 million. Though the whole entertainment magazine segment has been hurt, Playboy's woes have been worse.

Will this famous magazine publisher recover? Not at this rate.

Here are 5 reasons to avoid Playboy stock…