I wonder what Vegas will be like in the years ahead....

[stake1]

Vegas will bounce back up the fastest of all cities lol

Vegas is recession proof. But not when it’s forced to shutdown

[milwaukee mike]

Vegas is recession proof. But not when it’s forced to shutdown

recession proof? it has become quite the opposite... after the 2008/2009 recession so many projects just got halted/cancelled/went bankrupt... and if vegas was recession proof why did the housing market crash about 60-70% after that?

so much of vegas has been transformed from gamblers going to gamble, to international/corporate conventions/etc... even when the casinos are open those corporate meetings and conventions are gonna be in the toilet for quite a while.

so over the past generation or 2 vegas went from being recession proof, to being the most vulnerable city in the country

[StackinGreen]

Over/under on # of casinos going under (down/bankrupt)? I'll set it at 3.5

Go

[milwaukee mike]

Over/under on # of casinos going under (down/bankrupt)? I'll set it at 3.5

Go

nationwide or just in vegas?

over either way... especially if all those bars/etc with a few slots count as a casino

[hehfest]

Lots moving to Montana, central Nevada, and back overseas

I think people will want to get out of the big cities after all of this. That's my projection. I mean people are snitching on each other in the city right now. This......this is if we even get anything back to normal.

I know I post crazy stuff sometimes and some of it is when I'm drunk without a doubt. I was in the bag early this afternoon too listening to Kashmir and got all wild posting a few crazy posts.

[jjgold]

Yes , Corona is a game changer

I think people will want to get out of the big cities after all of this. That's my projection. I mean people are snitching on each other in the city right now. This......this is if we even get anything back to normal.

I know I post crazy stuff sometimes and some of it is when I'm drunk without a doubt. I was in the bag early this afternoon too listening to Kashmir and got all wild posting a few crazy posts.

[StackinGreen]

nationwide or just in vegas?

over either way... especially if all those bars/etc with a few slots count as a casino

Here are the major players with ownership of multiple hotel/casinos:

Caesar's
Boyd Gaming
MGM Resorts
Las Vegas Sands
Wynn
Station

I would count it as a point if most of their properties fold.

[Enkhbat]

Maybe 1 or 2, definitely not more than 3.

[manny24]

puerto rico trip got cancelled so we might fly to vegas for a couple days once restrictions are lifted

anybody know family friendly resorts with a killer pool?

[milwaukee mike]

Here are the major players with ownership of multiple hotel/casinos:

Caesar's
Boyd Gaming
MGM Resorts
Las Vegas Sands
Wynn
Station

I would count it as a point if most of their properties fold.

if those are all you're counting then you're not gonna get to 3.5

[jjgold]

Casino revenue will never be the same as far as walk up business

[milwaukee mike]

Casino revenue will never be the same as far as walk up business

it will be interesting to see what things look like, probably not gonna be people jammed into a club/concert or right next to each other at slot machines for quite a while?

[StackinGreen]

puerto rico trip got cancelled so we might fly to vegas for a couple days once restrictions are lifted

anybody know family friendly resorts with a killer pool?

I'm also wondering what this is going to be like in May. A friend was going to have a party and meet up, uncertain now. It looks like the temp in May is high 80s and mid 60s historical average, high/low.

[StackinGreen]

if those are all you're counting then you're not gonna get to 3.5

Let's say all of those have 30 properties that they own. How many of the 30 go down?

[Jayvegas420]

11-12 easy

[gopolks]

Garth Brooks concert at the new stadium is still scheduled to go ahead in August.

[mezmurized2]

recession proof? it has become quite the opposite... after the 2008/2009 recession so many projects just got halted/cancelled/went bankrupt... and if vegas was recession proof why did the housing market crash about 60-70% after that?

so much of vegas has been transformed from gamblers going to gamble, to international/corporate conventions/etc... even when the casinos are open those corporate meetings and conventions are gonna be in the toilet for quite a while.

so over the past generation or 2 vegas went from being recession proof, to being the most vulnerable city in the country

====
Milwaukee Mike raises some good points, and I have to agree.
The strip is in big trouble (obviously) from this pandemic and subsequent losses in revenues from casinos, conventions, hotel rooms & restaurants (tourism), and to a lesser extent - sports betting.

Their financial bottom lines will feel incredible pressure from not only the immediate losses in revenues but also what we can anticipate will be reduced tourism for at least another 18 months. A large segment of North America and Europe won't have near as much disposable income for such luxuries as a Vegas trip. Then there are the very real concerns of many people who will be much more "skittish" about being in crowds, at least for awhile - even after a vaccine for this particular strain of coronavirus is discovered.

Furthermore, Las Vegas is in the midst of a water crisis - which is threatening to turn severe in a hurry!....Realistically there could be water rationing on the way (including hotels) and/or higher costs. If hotels/restaurants/golf courses, etc have to pay more for water any increase in costs passed on to the customers would further reduce tourism. Likewise if hotels raise rates in effort to recover some 2020 losses.

But in so far as sports-betting is concerned, one year from now and beyond, why would gamblers travel to Vegas (expense will be more important for many) when nearly half the US states already have, or soon to have, legal brick & mortar sports-gambling with many more to follow!!!....This would seem to be a growth industry among ALL the states who are smart enough to cash in. Vegas may just become an expensive place to go if you have a lot of cash, or live near by. There are (and will be) other, closer and thus cheaper options coming soon to a city near you.
Vegas itself can be expected to suffer financially, see bankruptcies and many foreclosures, then within 10 years return to the desert...

https://theurbantwist.com/2020/03/31/us-states-continue-to-embrace-legal-sports-betting-in-2020/

https://www.legalsportsreport.com/36705/five-states-legalize-sports-betting-2020/

[Jayvegas420]

So will they drop rates and eliminate Resort fees in order to get people back, or will there be a typical reverse economical response.... were they will just raise prices and gouge even further to make up for the losses?

[milwaukee mike]

So will they drop rates and eliminate Resort fees in order to get people back, or will there be a typical reverse economical response.... were they will just raise prices and gouge even further to make up for the losses?

back in 2009 prices got dropped, and pretty much every restaurant had fixed price menus with much lower prices... so at least in the past prices have been cut

[JAKEPEAVY21]

====
Milwaukee Mike raises some good points, and I have to agree.
The strip is in big trouble (obviously) from this pandemic and subsequent losses in revenues from casinos, conventions, hotel rooms & restaurants (tourism), and to a lesser extent - sports betting.

Their financial bottom lines will feel incredible pressure from not only the immediate losses in revenues but also what we can anticipate will be reduced tourism for at least another 18 months. A large segment of North America and Europe won't have near as much disposable income for such luxuries as a Vegas trip. Then there are the very real concerns of many people who will be much more "skittish" about being in crowds, at least for awhile - even after a vaccine for this particular strain of coronavirus is discovered.

Furthermore, Las Vegas is in the midst of a water crisis - which is threatening to turn severe in a hurry!....Realistically there could be water rationing on the way (including hotels) and/or higher costs. If hotels/restaurants/golf courses, etc have to pay more for water any increase in costs passed on to the customers would further reduce tourism. Likewise if hotels raise rates in effort to recover some 2020 losses.

But in so far as sports-betting is concerned, one year from now and beyond, why would gamblers travel to Vegas (expense will be more important for many) when nearly half the US states already have, or soon to have, legal brick & mortar sports-gambling with many more to follow!!!....This would seem to be a growth industry among ALL the states who are smart enough to cash in. Vegas may just become an expensive place to go if you have a lot of cash, or live near by. There are (and will be) other, closer and thus cheaper options coming soon to a city near you.
Vegas itself can be expected to suffer financially, see bankruptcies and many foreclosures, then within 10 years return to the desert...

https://theurbantwist.com/2020/03/31/us-states-continue-to-embrace-legal-sports-betting-in-2020/

https://www.legalsportsreport.com/36...-betting-2020/

There are some valid points here. Namely, many people being low on cash and skittish to be in crowds of people for awhile even after this ends.

[vuasoikeo]

i think, its ok. i like topic. thanks

[jjgold]

Vegas execs very worried

[The General]

Nevada losing on all fronts it seems, re gambling destination.

[SBR_Guest_Pro]

Vegas is going to be the hardest city to recover from this

[StackinGreen]

====
Milwaukee Mike raises some good points, and I have to agree.
The strip is in big trouble (obviously) from this pandemic and subsequent losses in revenues from casinos, conventions, hotel rooms & restaurants (tourism), and to a lesser extent - sports betting.

Their financial bottom lines will feel incredible pressure from not only the immediate losses in revenues but also what we can anticipate will be reduced tourism for at least another 18 months. A large segment of North America and Europe won't have near as much disposable income for such luxuries as a Vegas trip. Then there are the very real concerns of many people who will be much more "skittish" about being in crowds, at least for awhile - even after a vaccine for this particular strain of coronavirus is discovered.

Furthermore, Las Vegas is in the midst of a water crisis - which is threatening to turn severe in a hurry!....Realistically there could be water rationing on the way (including hotels) and/or higher costs. If hotels/restaurants/golf courses, etc have to pay more for water any increase in costs passed on to the customers would further reduce tourism. Likewise if hotels raise rates in effort to recover some 2020 losses.

But in so far as sports-betting is concerned, one year from now and beyond, why would gamblers travel to Vegas (expense will be more important for many) when nearly half the US states already have, or soon to have, legal brick & mortar sports-gambling with many more to follow!!!....This would seem to be a growth industry among ALL the states who are smart enough to cash in. Vegas may just become an expensive place to go if you have a lot of cash, or live near by. There are (and will be) other, closer and thus cheaper options coming soon to a city near you.
Vegas itself can be expected to suffer financially, see bankruptcies and many foreclosures, then within 10 years return to the desert...

https://theurbantwist.com/2020/03/31/us-states-continue-to-embrace-legal-sports-betting-in-2020/

https://www.legalsportsreport.com/36...-betting-2020/

Good post. Do you see the renovation of it bringing back value, or continuing the hack corporate "grab as many fees" as you can???

[milwaukee mike]

lines 4 miles long just to get free food in vegas

desperation, and we're only a couple weeks into the shutdown

if these people can't afford food, they sure as hell can't afford rent or house payments

https://www.reviewjournal.com/local/line-for-food-stretches-for-miles-in-central-las-vegas-2002856/

[jjgold]

Like I said Nevada will go bankrupt

[StackinGreen]

How does the governor or mayor stand by and watch the death of their prized item, while no one on the west coast has any problem whatsoever with this virus

they are asking for people to storm the capitals. just stupid stuff here

[habitualwinning]

It'll be back. It will be slow at first and there will be consolidation and places that go under but it won't disappear. I'd go there as soon as Trump opens the economy back up. I'm not gonna live in fear like the liberals and old heads are. Vegas was late to shutdown compared to rest of country. They will be early to reopen. West and middle of country were hit mildly compared to East. Just ban people from NYC, NJ and no worries.

[19th Hole]

Mike if you stick to reading your journals that give misleading info you will not get the math. You are talking numbers from rec sales at licensed shops. The real numbers are exponentially larger.

Lots of MJ millionaires around before legalization and more made after. All about being smart with your business plan.

~~~~~

Grits...Congrats on the thriving business. I wish you and your father every success.

[milwaukee mike]

How does the governor or mayor stand by and watch the death of their prized item, while no one on the west coast has any problem whatsoever with this virus

they are asking for people to storm the capitals. just stupid stuff here

yeah no shit

so far in nevada 23,000 people have been tested and 2,000 people have the virus

so 90% of people that think they have the virus, don't have the virus

2,000 really old sickly people dead from "the virus", even though many of them could just be dying of pneumonia/heart attacks/old age

300,000 people on unemployment

what is the worse problem?

[Jayvegas420]

If there were ever an industry that could afford to take care of its employees and treat them decently during a time like this it is the gambling industry. However, it's quite obvious that this will not happen. Over the past few years MGM and Caesars have slowly weeded out their full-time positions and replaced them with part-time positions. This was obviously so that they did not have to pay the majority of employees benefits. Casino wages have been stagnant over the past 15 years and as the casinos gouge the patrons, all of the profits funnel to the bottom line and do not trickle down to those who deserve it and need it. Vegas is my favourite city on the planet, it is hard to feel sorry for the corporations that run the city.

[The General]

Jayvegas, spot on...Casino executives have been and are much much much more worried about stock prices than they are/were about employees as they were escorted out of the buildings.

[darrell74]

We will be alright.

The rest of you need to get healthy.

We won't open and let all you sickly people come back.

[jjgold]

Jayvegas, spot on...Casino executives have been and are much much much more worried about stock prices than they are/were about employees as they were escorted out of the buildings.

Yes...massive cuts coming

Vegas will have a very high unemployment rate

Best move I ever made was leaving there