• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer

VegasPublicity.com

Las Vegas News, Photos and Information

  • Home
  • Hotels & Casinos
  • Entertainment
  • Dining
  • Sports
  • Local & National




Las Vegas Gambling Industry is Bouncing Back on Track: Investors are Wagering In

December 14, 2021 By VegasPublicity

Facebook
Facebook
fb-share-icon
Twitter
Visit Us
Follow Me
Tweet
RSS
Pinterest
Pinterest
Pinterest
Instagram
LinkedIn
Share
Las Vegas Gambling Industry is Bouncing Back on Track: Investors are Wagering In
The Venetian Las Vegas

Las Vegas was one of the cities that’s been hit hard by the economic impact of the COVID-19 pandemic. Last year, what felt impossible happened in the city.

For the first time, the strips of Las Vegas looked dull and empty for a while. What used to be a city with such vibrant and loud nightlife looked empty. Even the casino owners themselves found it hard to believe that such a thing could happen to the city.

For a while, frequent casino gamblers had to stay home and find safer alternatives to entertain themselves. Most found contentedness on online casinos reviewed by onlinecasinos2.com but some still miss the ambiance that an actual casino filled with people having fun could give. Fortunately, this only took a short while as eventually, the local government allowed businesses in the city to operate again. 











At first, most were only allowed to do so at capacity but today, many of these businesses are fully operating again. More and more people are also starting to feel that traveling is possible with safety precautions. The businesses themselves also understood how they could make their customer feel more at ease and because of this, they’re starting to flock establishments in Las Vegas again.







The Market is Bouncing Back







While we all know that Las Vegas is quite the ultimate destination for gambling and gaming, Macau’s gross gaming revenue is actually bigger. This was the case before the pandemic but based on recent reports, Las Vegas is recovering faster than Macau which was also negatively impacted by the pandemic. 









According to Bank of America’s analyst, Shaun Kelley, Macau’s gross gambling revenue is still at roughly 70 percent below the pre-pandemic levels. Meanwhile, Las Vegas’ GGR has already bounced back by 30 percent from the level it had in 2019. This suggests that the city is indeed on its good way to recovery.

Kelley also spoke about the difficult situation that Macau is giving possible and even current investors. Aside from what the pandemic did to its local industry, Macau has also suffered from negative investor sentiments when 10 casino officials were arrested.

Kelley said, “This development, in our view, is more of a crackdown/intervention risk than the concession process from back in September, but is yet another example of the 3 C’s (COVID, Crackdown, and Concession) risks that make Macau difficult for investors at the moment.”

With all that, Las Vegas is pretty much losing a tough competition. It’s steering possible investors away from cities like Macau and true enough, there are already numerous business plans in place in Las Vegas in the coming years. 

Recently, Jeffery Soffer, the chairman, and CEO of Fontainebleau Development announced that he has a plan to open a 67-story Fontainebleau hotel and casino in the fourth quarter of 2023. This project was started in the mid-2000s but the Fontainebleau went bankrupt and had to be handled by different management teams a few times. Soffer was only able to recover the project earlier this year. 

Aside from Fontainebleau, Station Casinos is also planning to start a $750 million resort project in the southwest valley next year. Majestics Resorts CEO and developer Lorenzo Doumani are also aiming to start the construction of a 720-room hotel near the north Strip early next year just like what the developers of Dream Las Vegas are also hoping to do with their 20-story hotel and casino near the south edge of the Strip.

Buyout Deals in Las Vegas

Aside from new multi-billion-dollar infrastructures to soon arise in Sin City, there are also a lot of things happening on the buyout side of things. In March, Las Vegas Sands Corp announced that it will be selling The Venetian, Palazzo, and former Sands Expo and Convention Center for a whopping amount of $6.25 billion. 

MGM Resorts International also announced in July that it will be selling the Aria and Vdara for almost $3.9 billion and would then rent them back. Meanwhile, VICI Properties that is the spin-off from Caesars Entertainment revealed in August that it has already acquired MGM Growth Properties for more than $17 billion. 

This means that VICI Properties now owns plenty of the biggest establishments situated on the Strip. However, Caesars Entertainment also announced its plans on selling one of its Strip properties.

MGM is also expecting more deals to be on the way. It was announced that MGM Resorts will be acquiring the operations side of The Cosmopolitan but they are also trying to sell the operations side of The Mirage. 

With all that happening, the Las Vegas economy is simply starting to get back in good shape. Even if the tourist count in the state is not yet as high as it was pre-pandemic, it is expected that Las Vegas will soon make a full recovery. 

Related Posts:

  • 5 Things To Know About The History Of Gambling In Nevada
    5 Things To Know About The History Of Gambling In Nevada
  • Understanding the Different Types of Gambling Available at Japanese Gambling Houses
    Understanding the Different Types of Gambling Available at Japanese…
  • Top 10 Must-Visit Casinos in Las Vegas
    Top 10 Must-Visit Casinos in Las Vegas

Filed Under: Hotels & Casinos Tagged With: Business, Caesars Entertainment, Caesars Entertainment Corporation, Casino, Casinos, Clark County, Nevada, Climate, Competition, Construction, Cosmopolitan of Las Vegas, COVID-19, Gamblers, Gambling, Gaming, Hotels, Las Vegas, Las Vegas Sands, Las Vegas Strip, Macau, Online casino, Pandemic, Quarter, Recovery, Revenue, Safety, Sands Expo, Station Casinos, The Cosmopolitan, The Mirage, The Palazzo, The Venetian Las Vegas, Travel, Vdara, Venetian, Wagering



Primary Sidebar

Search

Circa Las Vegas

Las Vegas Nonprofit Spotlight

The Randy Report





Larry Flynt’s Hustler Club











The Stirling Club









Delirious Comedy Club







JB Public Relations







Advertising, Sponsored Articles and Links

We accept Sponsored Articles, Links and Advertising. Click here for details.

Today’s Most Popular Articles

  • Now Open: Ojos Locos Sports Cantina Y Casino in North Las VegasNow Open: Ojos Locos Sports Cantina Y Casino in North Las Vegas
  • Introducing Sunday Brunch at Anthony’s at M Resort Spa CasinoIntroducing Sunday Brunch at Anthony’s at M Resort Spa Casino
  • Special Performance: Blue Man Group Las Vegas Offers Sensory-Friendly Show at Luxor Hotel and Casino June 17 (w/ Video)Special Performance: Blue Man Group Las Vegas Offers Sensory-Friendly Show at Luxor Hotel…
  • Tracy Morgan’s Birthday Celebration Coming to Pearl Concert Theater at Palms Casino Resort Las Vegas November 9, 2023Tracy Morgan’s Birthday Celebration Coming to Pearl Concert Theater at Palms Casino Resort…
  • What Are The Most Popular Bitcoin Table Games?What Are The Most Popular Bitcoin Table Games?
  • Summerlin Council Patriotic Parade Returns July 4thSummerlin Council Patriotic Parade Returns July 4th
  • Fine Company to Open in Downtown Summerlin this SpringFine Company to Open in Downtown Summerlin this Spring
  • The Darkness Makes a Stop at Brooklyn Bowl Las Vegas on “Permission to Land 20 World Tour,” Oct. 8The Darkness Makes a Stop at Brooklyn Bowl Las Vegas on “Permission to Land 20 World Tour,” Oct. 8
  • Sports Betting in Nevada—Betting Tax, Restrictions and MoreSports Betting in Nevada—Betting Tax, Restrictions and More
  • River Rock Pizza & Pasta to Bring Fresh Italian Cuisine and Rockin’ Vibes to Arizona Charlie’s DecaturRiver Rock Pizza & Pasta to Bring Fresh Italian Cuisine and Rockin’ Vibes to Arizona…

10 Most Recent Posts

  • Henderson to Host Free Official Vegas Golden Knights Watch Parties on Water Street PlazaHenderson to Host Free Official Vegas Golden Knights Watch Partie…
  • GLAM: The Fabulous Las Vegas Rooftop Party at Ghostbar Atop Palms Casino Resort Celebrates Pride Month in Style Sunday, June 11, 2023GLAM: The Fabulous Las Vegas Rooftop Party at Ghostbar Atop Palms…
  • Summerlin Council Patriotic Parade Returns July 4th
  • What Are The Most Popular Bitcoin Table Games?What Are The Most Popular Bitcoin Table Games?
  • Special Performance: Blue Man Group Las Vegas Offers Sensory-Friendly Show at Luxor Hotel and Casino June 17Special Performance: Blue Man Group Las Vegas Offers Sensory-Frie…
  • The Darkness Makes a Stop at Brooklyn Bowl Las Vegas on “Permission to Land 20 World Tour,” Oct. 8The Darkness Makes a Stop at Brooklyn Bowl Las Vegas on “Permissi…
  • Tracy Morgan’s Birthday Celebration Coming to Pearl Concert Theater at Palms Casino Resort Las Vegas November 9, 2023Tracy Morgan’s Birthday Celebration Coming to Pearl Concert Theat…
  • Start Your Engines: Stadium Swim at Circa Resort & Casino To Host “Victory Lap: Formula Sun Race Watch Party,” June 18Start Your Engines: Stadium Swim at Circa Resort & Casino To …
  • Singer-songwriter Jackson Browne announces new tour dates with a five-night limited engagement at The Venetian Theatre inside The Venetian Resort Las Vegas this fall.Jackson Browne to Play Five-Show Limited Engagement at The Veneti…
  • Lighthouse ArtSpace Las Vegas Hosting Sensory Friendly Viewings for Immersive Disney AnimationLighthouse ArtSpace Las Vegas Hosting Sensory Friendly Viewings f…

Categories

  • Dining
  • Entertainment
  • Hotels & Casinos
  • Local & National
  • Sports

100 Latest Articles

Click here to view our latest 100 articles

VegasPublicity.com Archives

Footer

VegasPublicity.com is your source for news about Las Vegas, the most Exciting City on The Planet! Check us daily for news about Hotels, Casinos, Shows, Events, Bars, Dining, Sports, Local & National events and sightings of your favorite celebrities.

VegasPublicity.com is published by PR/Marketing veteran Bryan Eggers.

The contents of this site is Copyright 2022 VegasPublicity.com and/ or the individual photo/article authors.

Please send your press releases, celebrity sightings and photos to VegasPublicity.com@gmail.com

Privacy Policy
Please read our Privacy Policy here

FTC Disclaimer
This website may include affiliate links and we may be compensated if you make a purchase after clicking one of these links.

Chippendales

PIFF The Magic Dragon

High Roller

Search

Copyright Bryan Eggers © 2023 · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT