Wow the year 2020 is going to be non stop openings of stuff. Raiders Stadium Wynn hotel Paradise Park Resorts World The new Convention center extension on the strip The new MSG concert dome behind the Venetian ... and today announced the opening of the old Fountainbleu, now renamed "The Drew". It's 2004 all over again.
No P+R intended but there are many businesses whose growth is limited by the lack of qualified employees, and we see that in LAS. Residential guys cannot find framers, roofers, and god forbid you need bricklayers or a good corner man. OTR trucking is in terrible shape. Need a pressure vessel welder or other certified skill? Good luck. Here in NC, where we have had a very large contingent of foreign workers in the past for agriculture, construction, etc. hundreds of small businesses can't find people. My own landscape guy went all summer last year with several good positions open because his prior good and reliable employees (who also were able to pass a drug test by the way) had to vamoose. It's not solely these kinds of occupations. I recruit very senior level physician executives for bio-pharma...a client wants to hire a neurologist who is not a U.S. citizen (lives in a Scandinavian country, which should get the White House Seal of Approval). We can't get him in here. This guy is an expert in a rare (orphan) disease. Thousands of kids might be helped by this company's clinical stage drug. Why do we want to keep people like this out of the U.S.? Sorry for the rant...
If they make the so called "infrastructure bill" the situation will get worse. I know Resorts World delayed their start for months because of a shortage of cranes. They have like 5 of them on site now. I flew over Raider stadium this weekend and they have hollowed out the bowl. You can clearly see the layout now. The old Fountainbleu is scheduled to open before Resorts World. They say it's 70% finished at this point. If they finish it like the drawings I saw of it, it will rival Citycenter. Because it part of Marriot it's the perfect place for millions to use their points to stay there. Wynn is adding another 1500 rooms at Paradise Park. It's not just a lake but a whole new experience when coming to LV.
