Las Vegas has been the amazing destination people remember this weekend. The Venetian sale is expected to close in the first quarter of 2022. Plus all the Vegas News…
Every week there’s something new to report about the Great Vegas Comeback (™). Things in Las Vegas are almost back to pre-COVID days. Clark County is removing all COVID restrictions on June 1. Las Vegas will essentially be operating at the same capacity of February 2020. It is worth repeating: Everything Is Back in Vegas.
This week’s big news in Las Vegas is that there’s a plan to loosen restrictions in place to slow the spread of COVID-19 in Nevada. I’ll just cut to the chase with some bottom-line info on the details regarding the fact that covid restrictions will loosen soon.
We’re coming up on casino earnings season. The quarterly earnings calls and reports are useful to learn about Las Vegas casino operators. The reports allow us to look back at the quarter. This quarter will also look back at the entire year of 2002. The calls offer more commentary as the casino operators look to the future.
Pushing Forward Back by Temple of the Dog is a song I think about often. I don’t know what the actual lyrics are other than the chorus, but these words often come to mind when I think of doing business. It’s also a good entry point to discuss our main theme this week: MGM Opens and Closes.
Finally, some details about Vegas capacity updates. As expected, Nevada Governor Steve Sisolak increased the 50 person limit on gatherings. The new capacity limits are a bit confusing as the maximum capacity for most venues increased to 250.
No major Vegas COVID-19 update again this week. It hasn’t gone anywhere, and casinos remain under the same protocol. Read this if you’re curious about the local bar situation. Layoffs seem like they’re about to hit some non-gaming hotels too. You can always visit the Nevada Independent for Nevada COVID data. Perhaps, our most significant news is that Mirage is ready to open.
This was a wild week in Las Vegas. Well, maybe not so wild but very newsy. This might be the last heavy news week for a while. Multiple casino operators released second-quarter earnings. Earnings season is done for casinos so there may be a lack of news for the next few weeks. We also touch on something we are all well aware of: Las Vegas visitation is down.
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