When will Vegas open

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You have to be pretty ignorant and completely clueless to believe otherwise, the 2nd wave has already begun and much sooner than thought:

https://www.bloomberg.com/news/articles/2020-06-10/second-u-s-virus-wave-emerges-after-state-reopenings

Experts see evidence of a second wave building in Arizona, Texas, Florida and California. Arizona “sticks out like a sore thumb in terms of a major problem,” said Jeffrey Morris, director of the division of biostatistics at the University of Pennsylvania’s Perelman School of Medicine.

 

Looks pretty dead


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It was the quietest of the three I went to - none of the restaurants were open after 11 and only a few dozen ppl on the gaming floor. Friend offof who works at Venetian at a restaurant said last weekend was only 20% of normal.

 

‘Vegas is back!’ says social media. Not really, says Gaming Control Board.


New guidelines for operating casinos amid coronavirus pandemic include employee wearing face masks and a reduced number of chairs at table games. (Photo: Caesars Entertainment)

Videos of go-go dancers wearing face-shields and unmasked crowds of people intermingling between slot machines quickly made rounds on social media last weekend as casinos opened their doors after almost three months shuttered. Cliche lovers everywhere proclaimed: “Vegas is back!”

But there is still a long way to go.

According to the Nevada Gaming Control Board, 90.2 percent of licensees statewide reopened on June 4 — the first day they could.

But, on the Las Vegas Strip, which generates the biggest chunk of gaming and tourism revenue for the state, only 59.6 percent of licensees did.

Casino giants MGM Resorts International and Caesars Entertainment Corp. both took a phased-in approach, opting to reopen only some of their multiple properties on day one. A second batch of properties are set to open in the next week. Most seem prepared for reopening by July 4, according to gaming control board staff, though the situation is “fluid.”

Only two licensees have permanently closed as a result of the coronavirus pandemic — Lakeside Inn and Casino in South Lake Tahoe and Colorado Belle in Laughlin.

All of the casinos that have reopened — or plan to in the following days and weeks — must follow new safety guidelines set by the gaming control board, including operating their gaming floors at a maximum of 50 percent capacity. Some opened with fewer because of reduced demand or social distancing considerations.

What that works out to, according to a presentation from the Gaming Control Board, is an estimated 40.9 percent of slot machines, 37.7 percent of table and counter games, and 32.2 percent of card games statewide were operational reopening weekend.

On the Strip, 31 percent of slot machines, 31 percent of table and counter games, and 31.7 percent of card games were available reopening weekend.

Nevada Gaming Control Board Senior Research Specialist Michael Lawton presented the estimates to the Economic Forum, an appointed panel of five private-sector finance people tasked with forecasting the revenue projections used by the governor and Legislature for the state budget. That task will no doubt be a herculean effort this year, given the unprecedented move of shutting down nonessential businesses in mid-March to curb the spread of COVID-19.

Lawton told the panel gaming operators reported that while opening weekend brought in crowds, it was “not a lot of high-end play.”

“Locals will come back first,” he said. “The Strip will need airlift to grow. We’ve heard good reports. Flights are being added.”

Lawton added that it is also unclear when conventions will return. Many casinos rely on those “corporate customers” to help midweek business. Under Phase 2 of the state’s reopening plan, gatherings are capped at 50 people.

Looking beyond gaming, restaurants inside casinos are capped at 50 percent occupancy — same as other restaurants currently operating under the state’s Phase 2 guidelines. There are no additional restrictions on hotel occupancy.

Nightclubs and pool dayclubs at resorts remain shuttered, as do most of the shows and entertainment options that typically abound.

According to the Nevada Resort Association, the tourism industry supports one in three jobs in the state and accounts for 40 percent of general fund revenue. While the state knows that gaming revenue dropped to near zero in April and May, the full impact of the shutdown has yet to be seen because of the timeline of how gaming taxes are paid.

 

Like 20% full or 80%?


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The restaurant did ~100 tables in the day versus 500 for typical Saturday.

 

Sounds about right. Vegas will rise again that’s for sure though


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Bazaar Meats at the Sahara is adding Sunday night service starting next week. Right now its only Friday and Saturday.

 

Hard Rock Tampa (largest poker room in the country) just reopened its poker room!

 

So the 50% occupancy limit for re-opening applies to everything? Gaming areas, restaurants, and hotel rooms? Or is it just gaming areas?

https://www.npr.org/2020/06/03/868349911/as-casinos-reopen-in-las-vegas-stakes-are-high-and-union-calls-for-transparency

https://thepointsguy.com/news/las-vegas-reopening-after-coronavirus/

I'm not sure what the "property's occupancy" in that last part refers to. If it's everything I listed then that really sucks for the local economy...revenues would be cut in close to half. Hotel occupancy averaged over 90% pre-covid.

 

The properties are limited to 50% capacity. Most of the amenities are not available at most resorts. Dining is somewhat limited, and there is no entertainment to speak of. No day or night clubs suck the air out of a Las Vegas Summer. Pool and spa use are limited as well.

It is worse than it appears, IMHO. The revenue drop-offs run from the resorts handle all the way to the loss of tax revenue that makes Nevada happen. All of the businesses and people in and around the industry and those that support it are devastated.

Here is the current state of the State's rules.

HEALTH AND SAFETY POLICIES FOR RESUMPTION OF GAMING OPERATIONS NONRESTRICTED LICENSEES

And here is a partial list of what the resorts are doing.

Nevada Resort Industry’s Safety Response to COVID-19

 

I posted this in B&I earlier today.

Fitch Ratings: US Gaming Industry Coronavirus Recovery Will Be Three-Year Process

The gaming industry in the United States will take several years to fully recover and rebound to pre-coronavirus levels. That’s according to Fitch Ratings, one of the “Big Three” credit rating agencies.


While casinos closed to protect the health of employees and guests, the shutdown has stricken the fiscal well-being of the US gaming industry. (Image: Joe Buglewicz/Getty)

In their report, “US Gaming Will Experience a U-Shaped Recovery Post-Reopening,” Fitch analysts Alex Bumazhny, Colin Mansfield, Connor Park, and Carla Norfleet Taylor say casino revenues will decline considerably this year, and then begin rebounding in 2021. They claim “a full recovery in revenue and EBITDA to pre-coronavirus levels” should not be anticipated until 2023.

Fitch reviewed its US gaming universe in the span of four weeks, as the coronavirus outbreak intensified. Credit implications have been negative, with higher leverage forecasts resulting in the widespread revision of Rating Outlooks to Negative,” the report detailed.

Fitch is forecasting that 2020 revenues for regional gaming companies in the US will drop 30 percent. That increases to 45 percent for operators on the Las Vegas Strip, and up to 50 percent for Las Vegas Sands, MGM Resorts, and Wynn Resorts, which operate in China’s Macau – the world’s richest gambling hub, which remains nearly lifeless.

Strip More Than Gaming
Casinos are beginning to reopen across the country. According to the American Gaming Association’s (AGA) COVID-19 Casino Tracker, there are 621 commercial or tribal casinos open, while 368 remain closed.

Regional casinos, which typically rely on drive-in traffic, Fitch says, will better weather the coronavirus storm. Conversely, Las Vegas has a much greater dependency on travelers arriving by air, as well as convention business.

Recovery will be the slowest on the Strip, given its greater reliance on inbound visitation, air capacity, and conventions. Regionals are less cyclical than Las Vegas and should recover quicker, as they have mostly local, drive-in visitation,” Fitch said.

Numerous conventions planned for Las Vegas have been canceled, while others have been rescheduled for later this year. But they will only occur with state permission. Nevada Gov. Steve Sisolak (D) tweeted this week, “We are watching increases in cases, both in-State and across the nation, including bordering states. We have taken deliberate steps to help protect Nevadans and visitors, including limiting capacity.”

Worse yet for the three US casino giants that do business in Macau is that Sands, MGM, and Wynn derive the majority of their revenue from the Chinese Special Administrative Region.

“The timing of Macau’s rebound will be partially dependent on resumption of visa issuance and lifting of mandatory quarantine requirements upon re-entry to China, both of which are significantly weighing on visitation despite the properties being open,” Fitch said.

Casino Stocks
Gaming industry stocks have tumbled during the pandemic. And though they’ve recently regained some of their losses, most are still trading substantially lower compared with their pre-coronavirus levels.

Stock Pre-Corona (Jan. 31) This week

Sands $65.31 $49.32

MGM $31.06 $18.66

Wynn $126.16 $91.26

Caesars $13.67 $11.41

Penn $29.83 $30.04

Eldorado $59.78 $35.24

Boyd $29.85 $20.78

 

What an absolute disaster. I think I read somewhere recently for the top 100 casinos in Nevada, their rooms and restaurants accounted for more than half their revenue. That alone being cut back regardless of demand is going to hurt a lot of them...

Allegiant Stadium won't see expected revenue for quite some time, too, but hopefully sooner as in 2021.

 

This is all uncharted territory. No book in town is laying odds on what will happen next. I am staying optimistic, but I am also seeing budget shortfalls Statewide.

This is bigger than room occupancy and covers at restaurants.

A few examples.

Friend #1 is the "potato guy" in town. All the giant russet's served in town are his. His place is running at below 10% capacity after being shuttered for 75 days.

Friend #2 is a showrunner at an MGM property for an independent producer. He got one week of pay and then unemployment. Still waiting on the unemployment. No word on the show reopening, yet the property is selling tickets to other shows that aren't currently open.

Friend #3 is a casino boss at a yet to re-open Caesars' property. He is most likely out of a job due to the upcoming ERI CZR merger. The property will most likely not reopen and will be sold.

Friend #4 Is an IATSE union stagehand boss. He got excited when he heard that Circus Circus was going to have the circus acts running at the opening so a few of his guys could go to work. Since the shows and conventions stopped, no work for the IATSE stagehands or Teamsters.

Friend #5 does bottle service in a shuttered night club at the Wynn. She was fully paid with benefits (less tips) until recently and was told unemployment id her next step.

Las Vegas will recover eventually, but the short term is going to be an uphill fight. Nothing else happens here until the Governor opens up the next stage of the post 'rona Nevada world.

 

Looks bad indeed, Vegas will rise again for sure. What’s also of a concern is that conventions like SEMA and maybe CES could be at play too.
Lastly since the nba chose Orlando over Vegas (amongst others) for the nba restart, I’m wondering if more conventions may be lost to Orlando too.


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Despite casinos reopening and tourism activity resuming, many workers remain left behind

A television ad beckoning tourists to Las Vegas debuted last week, showing the casino-dotted boulevard lighting up with the flick of a giant switch.

The 30-second commercial ends with a simple message: “NOW OPEN.”

The reality is more complicated for the state’s gaming- and tourism-dependent workforce. While the lights may be on, not everyone is back home. The coronavirus-triggered shutdown sidelined gaming, hospitality and entertainment workers across the state — thousands of whom have not returned.

Donna Kelly-Yu is one of those workers in limbo. A dispatch butler at Caesars Palace, she prided herself on making sure guests received what they ordered, whether it be a late-night snack, gluten-free meal or bite-size meat for the dog who accompanied them to Las Vegas. Now, she’s deferring mortgage and car payments while waiting to receive a call back to work. A snafu caused by vacation pay, Kelly-Yu said, has delayed her approval for unemployment assistance from the state.

“I know they’re working on it,” she said. “I have faith in the governor. I know that he is doing his best and I’m not the only one this is happening to, but it’s very challenging.”

Kelly-Yu and her husband have been living off his Social Security benefits and retirement pay as well as some money socked away in a savings account. They’re also babysitting their grandchildren three days a week and receiving financial assistance from their daughter.

The 57-year-old is like many of her fellow Culinary Workers Union Local 226 members who don’t know when they can resume their jobs. (As of Friday, the Culinary Union could not say how many of its members had been recalled to work, which is based on house seniority.)

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Culinary member Donna Kelly-Yu on Wednesday, June 10, 2020. (Jeff Scheid/The Nevada Independent)
And they’re not the only ones. With nightclubs, concerts and shows still dark, most of those workers aren’t returning to their jobs in or around casinos either. R.J. Owens — better known as “Bebe Francois” in the Cirque du Soleil show “Mystere” — has traded his on-stage act for a myriad of household projects while laid off. He has made Roman shades, cleaned his office and garage, built furniture, cured meats and done some leatherwork to stave off the loss of what he calls “the best job in the world.”

“I’m a 50-year-old man who gets to wear a diaper to work and not because I have to,” he said. “I get to do something different every single show. I feed off the audience.”

It’s unclear how long their wait will be. Casinos gradually have been reopening at reduced capacity to comply with new health and safety policies. Plus, the prohibition on gatherings of more than 50 people has put some of the city’s hallmark entertainment options off limits.

The ripple effect can be found in company layoff notices. Drai’s, a nightclub at The Cromwell, gave notice to county and state officials in a letter dated May 27 that it was furloughing or laying off 526 employees. The notice, required by a federal law known as the WARN Act, says the company hopes to rehire employees during a “phased resumption of operations.”

“These sudden and unexpected circumstances and the dramatic economic downturn suffered by Las Vegas and our industry are conditions outside of our control,” the letter states. “The COVID-19 pandemic is an unprecedented natural disaster, the full effects of which remain to be determined.”

About 38 percent of the state’s unemployment insurance claims have come from the “accommodations and food services” industry, while another 3 percent stem from “arts, entertainment and recreation,” according to a DETR (Department of Employment, Training and Rehabilitation) report for the week ending May 30.

Jeremy Aguero, principal analyst with Las Vegas-based Applied Analysis, said gaming and tourism-related jobs are expected to return in thirds. The first round of employees, he said, were rehired to staff the casinos that reopened June 4 when the 78-day shutdown lifted. Aguero said the second wave could be rehired by the middle or end of summer as activity ramps up, but the third group may face a prolonged stretch of unemployment given structural industry changes caused by the pandemic.

There are some promising early signs, though. Apparent pent-up customer demand has increased hotel bookings enough that major gaming companies have moved up opening dates for some of their casino-resort properties.

Still, Aguero cautioned jumping to any premature celebrations.

“We should not misinterpret positive signs as the fact that our economy has recovered,” he said. “That is going to be measured in a lot longer than a couple of months.”

Even if visitor volume steadily increases, the likelihood of all jobs returning is nil, said Barry Jonas, a senior gaming analyst with SunTrust Robinson Humphrey. The closure accelerated the industry’s search for efficiencies that could boost the bottom line, he said. Automation or so-called touchless technology — a selling point in the age of coronavirus — will render some jobs obsolete.

“A lot of these initiatives are not just about the COVID prevention,” he said. “They’re about profitability.”

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Culinary member Mariza Rocha on Wednesday, June 10, 2020. (Jeff Scheid/The Nevada Independent)
Geoconda Argüello-Kline, the Culinary Union’s secretary-treasurer, said the organization never expected jobs to bounce back overnight. The union knew it would be a “slow process,” she said, and has prioritized workers’ health and safety over anything else.

Even so, the Culinary Union, which represents roughly 60,000 workers, has been negotiating with casino and resort companies to secure two-year recall rights for its members. That would mean workers could be recalled to a full-time position in their job classification and at the same level of pay for up to two years after the layoff.

So far, the union has reached that agreement with the Cosmopolitan, Wynn, Encore and Hilton Grand Vacation properties. Other logistics, such as if and for how long unemployment assistance would be extended, have yet to be worked out with the state.

“If you’re going through this pandemic crisis and you have this economic situation, your job is on the line waiting for you when the business is better. That’s one thing,” Argüello-Kline said, explaining how the union is balancing the health and economic interests of its members. “But the most important part is how they are going to protect their life and their families.”

The union is maintaining health coverage for its laid-off members and has set up a food assistance program. Since March, about 34,000 baskets of food have been given to union workers and their families.

Mariza Rocha, a utility porter who was laid off from the Stratosphere, said her family would be struggling if it weren’t for the $600-a-week federal unemployment assistance she receives on top of the state aid. But the federal benefits are set to expire at the end of July.

As a utility porter, Rocha spends her work days completing building upkeep tasks such as shampooing carpet or cleaning walls. The 39-year-old said it can be tough but satisfying work. She’s clinging to hope that her job will be recalled by the time all casinos reopen. If not, Rocha said she would consider looking for work elsewhere.

“I like (it) better to work than to be on unemployment,” she said.

Kelly-Yu, the butler dispatcher, echoed that sentiment.

“I’m trying to wait it out, but I’m also looking,” she said. “I have a lot of faith in my union. I have a lot of faith that we will fight to make sure that people go back to work and that we will make the company do the right thing.”

Owens, the Cirque du Soleil performer, said he’s “woefully concerned” about his job. Two-thirds of his performance involved audience participation, a less-than-ideal scenario amid a pandemic that has made social distancing a key tool in the battle against the virus.

The trained magician and actor who has bachelor’s and master’s degrees in theater arts has applied for an assortment of other jobs, including Amazon delivery driver, while he waits it out. But he has already received two rejections from companies that told him he was overqualified.

Owens has another trick up his sleeve — moving to Los Angeles to pursue acting roles — but he’s not quite ready to take that plunge.

“There’s a part of my heart that knows Las Vegas is about entertainment, and Cirque du Soleil is as much the entertainment juggernaut in Las Vegas and the thing that people want to see,” he said.

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Cirque du Soleil performer R.J. Owens on Wednesday, June 10, 2020. (Jeff Scheid/The Nevada Independent)
The job uncertainty stretches far beyond the “Welcome to Fabulous Las Vegas” sign, though. Consider the small city of West Wendover, which sits near the Utah border in Northern Nevada. Casinos employ about two-thirds of the city’s workforce, so when the coronavirus shut down nonessential businesses statewide, roughly 2,000 residents — including Mayor Daniel Corona — found themselves out of jobs.

The local food bank, he said, went from serving about 50 families a day to more than 300. Corona, who lost his health insurance and burned through $3,000 in savings, eventually sought the food bank’s assistance, too. He even wrote an essay about the decision, hoping it would encourage others to not feel any shame about food insecurity.

Since then, four of West Wendover’s five casinos have reopened, meaning not all of its laid-off residents have gone back to work. Corona, a poker dealer, said he “got really lucky” because he temporarily was moved into a bartender role until the poker room reopens.

The notion that economic hardship is suddenly over now that casinos can operate irritates the 28-year-old mayor.

“It’s not like switching on a light switch where we reopen the casinos and everything is back to normal,” he said. “Obviously, there has to be a transition phase.”

On Thursday, exactly one week after casinos could reopen, Rocha, the porter, received a call from her employer asking her to take a COVID-19 test. It’s a clue she may be back at work soon, though her start date is unclear. For many other workers tied to tourism, the waiting game continues. But that doesn’t bother Juston Larsen, a Culinary member who works as a Starbucks barista inside McCarran International Airport. As someone with asthma who carries an inhaler, he knows his health condition elevates his risk for the virus.

“I know it’s going to take some time,” he said of being called back to work. “And that’s totally okay.”

 

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That’s cool it reopens! I wonder what the experience will be like.


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Face Masks Remain Optional for Nevada Casino Guests

Face masks for guests inside Nevada casinos will remain optional, the Nevada Gaming Control Board (NGCB) confirmed today.


While Nevada casino employees, such as this table game dealer at the Bellagio, must wear face masks, that isn’t the case for gamblers. (Image: John Locher/AP)
All casino employees must wear face coverings, but NGCB Chair Sandra Morgan told the Las Vegas Review-Journal that guests are not required to, and that isn’t changing at this time. Medical experts say wearing a face mask can help slow the spread of COVID-19.

“Per our current policy, all casino employees must be wearing masks. Licensees must have masks available for patrons and should strongly encourage patrons to wear them,” Morgan explained.

These policies were created and implemented based on guidance and feedback from medical professionals and from the state’s testing data, testing capacity, and contact tracing,” Morgan added. “If that data changes and our percentage of positive cases increase, I would consider additional measures to ensure our healthcare system is not overburdened.”

Nevada casinos began reopening June 4. Some people have expressed frustration on social media over the lack of gamblers wearing face masks and adhering to social distancing protocols.

State Encourages Use
Nevada eclipsed 11,000 total number of positive coronavirus cases over the weekend, including more than 200 new cases within the past 24 hours. The Nevada Department of Health and Human Services (DHHS) says Saturday was the state’s 10th-highest single-day increase.

Last Thursday, Nevada experienced its second-highest increase with 277 new infections, and Friday ranked third at 270.

On Monday, the Southern Nevada Health District (SNHD) said residents and visitors must remain vigilant in combatting the coronavirus, explaining that it’s “easy to forget that we are still responding to a pandemic.”

“The Southern Nevada Health District recommends that people wear cloth face coverings in public, even more importantly in environments where social distancing is not always possible,” a SNHD statement read. “As businesses are reopening, the Health District has issued guidance and recommendations that employees should wear non-hospital grade, cloth face coverings to prevent the spread of COVID-19.”

SNHD officials say face masks are “one of the most effective measures … for slowing community transmission of the virus,” but certain segments of the population have been reluctant to don such protective gear.

Face Mask Backlash
Wearing a face mask has become a divisive topic in America. Some believe wearing a mask is one’s way of protecting others, while another segment sees masks as overkill and unnecessary.

Las Vegas Locally ran a Twitter poll over the last day asking, “Would you be more likely or less likely to visit a Vegas casino if everyone had to wear a mask?” Nearly 70 percent said they would be likelier to visit.

Critics quickly responded to the NGCB statement today regarding not enforcing a face mask policy for guests inside casinos.

Tourists will spend a few days in Vegas, go back home, and infect people in their own communities and that’s where the spikes will be. It’s incredibly irresponsible,” said one Twitter user.

Another, however, had a vastly different response. “The way it should be. This is the Land of the Free. WE should decide what is best for ourselves. Others can decide if masks are good for them or not.”

 

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https://www.reviewjournal.com/news/politics-and-government/nevada/sisolak-says-face-coverings-required-starting-friday-2060014/

Well trust was expected but don’t think it will help the economy


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so are all majority of customers in the hotles wearing face masks?