Vegas News February 14, 2021
Covid Restrictions Loosen
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. Here’s a clip from the local news if you’re curious. I’ll just cut to the chase with some bottom-line info on the details regarding the fact that covid restrictions will loosen soon.
- Casinos, bars, and restaurants will go from 25% to 35% capacity Monday.
- Reservations will not be required. Table limits will be bumped from 4 to 6 people. Capacity at these businesses will increase on March 15 to 50%.
- Public gatherings and events will have a new capacity of 100 people or 35% – whichever is lower. This will increase to 250 people or 50% capacity on March 15.
May 1st – A Date To Watch
If all goes well, restrictions will be loosened even more on May 1.
The March 15 date is timed nicely for casinos, bars, and restaurants as the first weekend of March Madness takes place that week. While 50% isn’t perfect for businesses it’s certainly better than the 25% capacity.
Requests For Larger Crowds
Once again venues can send plans to the government to request larger crowds to be in attendance for special events. For example, NASCAR submitted a plan to allow 25,000 to attend the race next month. Don’t be surprised to see the Vegas Golden Knights submit a plan to let fans into the games sometime this week.
Shows are already plotting their return. Carrot Top and Fantasy are set to return to Luxor. Brad Garrett Comedy Club at MGM Grand and Thunder From Down Under are increasing capacity to 100 people.
MGM Resorts Las Vegas Property Update
Coincidentally, MGM Resorts CEO Bill Hornbuckle said the company hopes to have all properties operating seven days a week by March. You can see the MGM Resorts earnings release here.
Last week we mentioned that dayclubs are beginning to reveal their opening dates for pool season beginning in early March.
If all goes well we won’t hear much about COVID restrictions for a while. Let’s get into the rest of the news in Las Vegas this week.
Las Vegas Quick Hits
Between casino sales, rumors, and earnings reports there was a surprising amount of Las Vegas casino news last week. Actually, it’s more quality than quantity but that’s another story. Let’s get to it!
Break out the confetti! 🎉— Virgin Hotels Las Vegas (@VirginHotelsLV) February 12, 2021
OFFICIALLY OPENING on 3.25.21 pic.twitter.com/vaCkYwIeei
Virgin Las Vegas NOW Opening March 25th
- Virgin Las Vegas has another opening date on the schedule! Just about the entire property is scheduled to open on March 25. I was expecting early April but this isn’t too far off. I have to reach out for more information but the Betfred sportsbook won’t open until the summer. I’ll share more info when I have it.
- It looks like Caesars Entertainment is increasing resort fees at three properties. Read more here.
- The FountaineDrew (™) was just purchased. The project has been stalled for so long that I find it difficult to believe it’s structurally sound. You can read the press release for the deal here. You can see the history of Fontainebleau here.
- I haven’t seen this elsewhere but it appears as though The Venetian is no longer available to be purchased. Read more here.
- Red Rock Resorts (AKA Station Casinos) reported earnings this week. The big “news” is the same as the last earnings report/call. Yeah – it’s not news no matter how mainstream media outlets try to tell you it’s news. Palms and the other closed Station properties will remain closed for the foreseeable future. The company is still considering building Durango Station. You can read the earnings report here. You can read about Durango Station here.
- A company purchased land on the north and south ends of the Vegas Strip. It doesn’t appear as though anything interesting will happen on the land. I’m just sharing so you know everything. Read more here.
- There are so many TV shows about flipping real estate that I’m surprised there’s no “Flipping Casinos” on. I’m not really surprised but that show sounds like fun to me! If you have some loose cash lying around you can buy the Tropicana for $384 million, clean it up, and sell it for $500 million. See the real estate listing here.
- One of the things that stood out to me during the MGM Resorts earnings call was CEO Bill Hornbuckle calling the company a “gaming and hospitality” company. That’s quite a change from the “Welcome To The Show” era that promoted everything that wasn’t gaming just a couple of years ago.
- Aruze’s Roll To Win Craps is finally in a Las Vegas casino. Harrah’s is the first to install the game. Read more here.
- Mandalay Bay Events Center is now the Michelob Ultra Arena. Read more here.
- The Rock n Roll Marathon won’t take until 2022. Also, there won’t be a full marathon involved with the marathon. Confused? Read more here.
- Last and certainly least, I had a sweet Vegas Strip view from my complimentary (plus resort fee) room at the Cosmopolitan. I took this while I was sending emails from the terrace before heading home. I’m short so the bar is always in the way.
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