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…
This week Caesars Entertainment, MGM Resorts, and Wynn Resorts reported earnings. This provides a lot of insight into Vegas Casino Earnings for 2021. Much like Station Casinos and Boyd Gaming earnings last week, there was a similar theme with the earnings calls. Casino corporations have learned how to effectively operate with a smaller staff and fewer amenities for guests.
Like I mentioned last week, we’re starting to see the light. Las Vegas is very much on the rebound. At this point, it feels as though demand is ramping up faster than businesses can handle. We’ve been slowly detailing this for weeks and months. So, Vegas – get ready to party in July!
On Tuesday, I went to a small media gathering at Tuscany for the opening of the new Circa Sports location. Afterward, I saw a couple of friends from Florida for the first time in years. I saw more people in three hours than the entire year to date, and that was just the beginning. Wow, Vegas is packed.
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.
There aren’t too many news stories this week, so I’ll kick this off with a personal story (hint: Cosmopolitan Vegas). Last week I spent a night at Circa to check out the hotel rooms and Legacy Club. I really enjoyed the day and night at the property. I love spending time in shiny new casinos, so that was a pleasure.
Earlier this week, I went through the Momentum Rewards benefits for the Mohegan Sun Casino at Virgin Hotels Las Vegas. They appear to be different than other markets, so I did a deep dive. Another point of interest is the overall situation regarding Vegas Virgin Fees.
It looks like COVID-19 ain’t going away quickly so we’ll start the Vegas News once again with a brief update. According to White House data, Nevada is a hot zone and Las Vegas is in particularly bad shape. You can read about the recommendations here and as always see the current data here.
Las Vegas is essentially shutdown to slow the spread of coronavirus. You know that by now so I won’t rehash what’s going on. We have a few updates on the business side of things as well as information about how the different players clubs will be affected by the shutdown.
Quarterly earnings are the best and worst at the same time. They often have interesting information. The earnings calls are another level. They often have additional commentary that isn’t in the reports and press release. Let’s explore more in Vegas News.
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