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

[flyingillini]

Macau was already better than Vegas. I go there 4x a year. It’s unbelievable there.

[BigdaddyQH]

How often were all of the hotels in Vegas completely sold out? Perhaps a maximum of 10 days out of the year. For the most part, Vegas Hotels depend on two things for their survival. Conventions and Major Sporting Events. It will be a while before Major Sporting Events return, and even longer before Conventions return. Until then, Vegas dies a slow death. Tow of the major job producing industries in Vegas that are the hardest hit are leisure and hospitality, and construction. Those two industries make up about 40% of the Vegas job market and those two industries will take the longest to recover.

[Black Coffee]

My post #232 was a pushback to the premise:


"If that [construction] goes, the bottom should fall out."
post #231



Hopefully, I did this in a civil manner (although it can be challenging without voice inflection, body language, etc).

Well, Vegas didn't crumble to the ground after that.

Nevertheless, I won't ignore your statement "Couple that with the other industries struggling as well and a clearer picture begins to emerge."

This certainly makes the current crisis different from what happened in 2008.

However, it's important to remember the fed is prepared to make unprecedented responses to Covid-19. And it's not just the possibility of a second stimulus checks to individuals.

Published on 4/19/20, senators on both sides are working on a $370 billion deal in relief.

https://www.cnbc.com/2020/04/19/mnuchin-pelosi-say-very-close-to-a-deal-on-second-round-of-small-business-loans.html

As Vegas and other cities make plans to slowly recover their economy, their immediate goal is NOT growth. It's to stop the bleeding. Growth is far away down the road.

Furthermore, scientists are working diligently to find a vaccine and a treatment for those who already are infected.

As the data comes in, it's becoming irrefutable that some people suffer mild or no ill effects with Covid-19.

There's also a rising anger among some who are locked down and do not have the luxury of telecommuting or being financially independent.

The leaders in the state and federal level know this. Governors have begin talks on the best method to gradually open up the economy.

With improved testing and physical distancing measures, the economy can, must, and will make steady progress. This will begin pre treatment and/or vaccine. It'll continue post treatment and/or vaccine.

Correct.. The current crisis is significantly worse than 2008 and could have longer lasting impacts.

Construction is a key indicator b/c you can't build anything without already having the funds to pay for materials and workers. So if construction stops, it means the money has stopped. If there's new construction, that's a good sign.

We're not saying Vegas will crumble. It should be fine in time. We're saying that prices in the housing market are likely to decline b/c demand from buyers is about to decline.

[Black Coffee]

How often were all of the hotels in Vegas completely sold out? Perhaps a maximum of 10 days out of the year. For the most part, Vegas Hotels depend on two things for their survival. Conventions and Major Sporting Events. It will be a while before Major Sporting Events return, and even longer before Conventions return. Until then, Vegas dies a slow death. Tow of the major job producing industries in Vegas that are the hardest hit are leisure and hospitality, and construction. Those two industries make up about 40% of the Vegas job market and those two industries will take the longest to recover.

good points..

[StackinGreen]

Yes, I guess the question is when it comes back, will they keep nickel and diming us, or will the hidden fees still be present? I predict that if so, it will take a LONG, long time to "get back."

[milwaukee mike]

Yes, I guess the question is when it comes back, will they keep nickel and diming us, or will the hidden fees still be present? I predict that if so, it will take a LONG, long time to "get back."

my question is when are those buffets gonna be operating? hopefully sooner rather than later, even if there has to be a person serving you like a grade school lunch lady

[jjgold]

It’s one of my greatest calls and I said it a month ago it’s finished unless there’s a cure for the disease

[StackinGreen]

my question is when are those buffets gonna be operating? hopefully sooner rather than later, even if there has to be a person serving you like a grade school lunch lady

mike, i know we see eye to eye on stuff, when are you going to remove that avatar my man? It's just not necessary

[StackinGreen]

It’s one of my greatest calls and I said it a month ago it’s finished unless there’s a cure for the disease

You're no dummy, shut up, there is no such thing as a cure, it's a virus. Just stop

[DontTailMe]

Huh? For viruses, a vaccine is a cure for society as a whole. And there will be one of those eventually. We developed a vaccine for SARS but it withered away on its own before we had to deploy it. Because of the economic impact of this virus, billions of dollars are being poured into research. We already have several vaccines in human trials. The Gates Foundation is funding the build out of factories to mass produce the most promising vaccines so that they can be rolled out to the public as soon as they are approved. I'm not too worried about whether we'll eventually have a cure. The question is timing and how many ways we screw things up before then.

[jjgold]

No Vegas until a cure

[Brock Landers]

They're in huge trouble

Everything needs to be wide open for this city to function

[EVPlus]

Correct.. The current crisis is significantly worse than 2008 and could have longer lasting impacts.

Construction is a key indicator b/c you can't build anything without already having the funds to pay for materials and workers. So if construction stops, it means the money has stopped. If there's new construction, that's a good sign.

We're not saying Vegas will crumble. It should be fine in time. We're saying that prices in the housing market are likely to decline b/c demand from buyers is about to decline.

Leisure/Hospitality is hands down the #1 industry in Vegas - that's the one thing everyone can agree on.

Construction, as I stated in #232 is ranked 6th in the number of jobs.

https://www.bls.gov/eag/eag.nv_lasvegas_msa.htm

As #1 recovers, others will follow.

I have to reiterate what I stated in #236 (it was a lengthy post so some may have missed it), when I wrote "As Vegas and other cities make plans to slowly recover their economy, their immediate goal is NOT growth. It's to stop the bleeding. Growth is far away down the road."

Sure, I'll examine all sectors. However, the urgent matter is getting Vegas back on its feet. Therefore, I'll put the most weight on the main indicator of Vegas' economic health - and that is overwhelmingly Leisure/Hospitality.

[EVPlus]

It's not just $1200 payment or the possibility of a second payment. In post #234, it was one example I gave for brevity. Interesting how some persist in highlighting this to the exclusion of many other statements I made on the subject.

Well, in addition to the $1200, there's also:

• Additional $600 per week for those who qualify for unemployment on top of their regular unemployment checks

• Unemployment benefits extended 13 additional weeks

• Trillions from the Fed in assistance

• On March 23, Fed announced it will purchase Investment Grade bonds to assist corporations
  
  

• On April 9, the Fed announced it will purchase bonds who lost their Investment Grade rating around March 22nd (a day before the S&P 500 hit its one year low). The Fed will extend their buying - BUT LIMITED to only those at the top tier of the high yield category (BB+, BB, BB-). These 'fallen angels' stand the best chance at regaining Investment Grade status as the economy improves.

• A SECOND relief bill, passed the Senate on April 21 (expected to pass the House on Thursday). This bill includes $310 billion to help keep employees on small companies' payrolls, $60 billion to small business loans and grants, $75 billion for hospitals, $25 billion for testing

McConnell stated recently the full senate must be in session before the next installment of financial assistance. He also expressed weariness with just pushing money out the door - which I'm on board with because I believe they need more focus moving forward.

However, he did NOT close the door on more aid in the future.



And let's not forget the medical side of the equation:

• More testing including antibody testing

• Vaccine in the works from many competing drug makers

• Intermediate treatments in the works (until a vaccine is developed)

• Irrefutable data showing some, perhaps many, suffer little to no effects from C-19. This group theoretically should be good candidates to gradually re-enter the work force.

• Growing resentment from those in lock down, with leaders at the state level considering or entering reintegration strategy.

• Other nations implementing gradual release from lockdown - from which the U.S. can learn from

• Acknowledgement of a possible second C-19 wave, with various entities making necessary adjustments (so they don't get caught with their flu pants down)

Some people like to focus on just a few things which support their belief system.
When problem solving, I'd rather examine as many variables possible. This provides an environment where I can make the best decisions.

[EVPlus]

Yes, I guess the question is when it comes back, will they keep nickel and diming us, or will the hidden fees still be present? I predict that if so, it will take a LONG, long time to "get back."

If they're smart about it, they should remove the ridiculous fees and increase incentives to bring people in the door.

As things improve, they'll most likely remove them.

[milwaukee mike]

Huh? For viruses, a vaccine is a cure for society as a whole. And there will be one of those eventually. We developed a vaccine for SARS but it withered away on its own before we had to deploy it. Because of the economic impact of this virus, billions of dollars are being poured into research. We already have several vaccines in human trials. The Gates Foundation is funding the build out of factories to mass produce the most promising vaccines so that they can be rolled out to the public as soon as they are approved. I'm not too worried about whether we'll eventually have a cure. The question is timing and how many ways we screw things up before then.

yes let's all trust bill gates! the guy whose cure for polio (the polio vaccine) is causing most of the world's polio!

how many people got killed by those illegal trials of gardasil, cervarix, and others in india?

vaccines are a total fraud, they are untested, unsafe, and introduced at the back end of diseases (as a money grab) when they are dying off anyway

[jjgold]

They're in huge trouble

Everything needs to be wide open for this city to function

Yes they are

[Hot Jerry]

I hate to say that because I live here in Vegas , but we are F.......ed in here for next 5 years !! Sad but true !!

[jjgold]

Let’s wait for housing crash in Vegas and then will come in real lowball

[blackbart]

“The employees of South Point Hotel, Casino & Spa employees are extremely important to us and we have been doing everything we can to assist them during this difficult period. As a result, of the ongoing impact of the COVID-19 pandemic and the resort closure mandate through April 30, 2020 by Governor Sisolak, we have had to make a very difficult decision to furlough most of our employees for an indefinite period beginning on May 3, 2020.
South Point will maintain workers’ health benefits through July 31, 2020 and will cover health payroll insurance deductions through that time as well. Once the property reopens, workers will be brought back based on demand.”

[milwaukee mike]

Let’s wait for housing crash in Vegas and then will come in real lowball

here's a house for less than half price, even has an elevator

https://www.zillow.com/homedetails/9-Paradise-Valley-Ct-Henderson-NV-89052/68649537_zpid/

[Jayvegas420]

Good News finally.

Opening next week!

[StackinGreen]

That gabe can't even interview another person without calling her ignorant for saying "It's not China" and suggesting she is "racist" or whatever the cool fake news term is nowadays. CNN needs a wrecking ball, obviously cooper needs an enema too

[70'sMan]

The only good that may come of it is to break the cycle of escalating prices, reduced comps and reduced betting odds.

[Jayvegas420]

....for the short term

[StackinGreen]

Haha, yup.

[jjgold]

Watch the idiots still charge for parking

[DISTROYA]

I dont feel ANY business will recover from this, especially anywhere with crowds; restaurants, movies, casinos, concert venues, stadiums, theme parks, etc to name a few. Its gonna be a long time, probably over a year for things to even resemble normal, and I cannot fathom how the domino tidal wave of bankrupties arent going to collapse the world within this time period.

[DISTROYA]

I can see it now: "no Aces blackjack" or they may go the other way "counter-friendly tables" LOL.

[lonegambler23]

mike, i know we see eye to eye on stuff, when are you going to remove that avatar my man? It's just not necessary

i agree, keep your porn agendas elswhere

[jjgold]

Tremendous post

I dont feel ANY business will recover from this, especially anywhere with crowds; restaurants, movies, casinos, concert venues, stadiums, theme parks, etc to name a few. Its gonna be a long time, probably over a year for things to even resemble normal, and I cannot fathom how the domino tidal wave of bankrupties arent going to collapse the world within this time period.

[Jayvegas420]

Did anyone receive the infamous MGM survey?
was only supposed to be send to platinum & noir members but it's been circulating amongst all players club members.

$75 free play if you complete the survey.

[PaperTrail07]

wow a fuckn steal.....little out there for me.....40 mins off strip....add traffic---rather be a TAD closer if that's the city I'm deciding to move too...

here's a house for less than half price, even has an elevator

https://www.zillow.com/homedetails/9...68649537_zpid/

[jjgold]

They’re going to be one of the states that declare bankruptcy by the end of the year

[milwaukee mike]

i agree, keep your porn agendas elswhere

it wasn't a porn agenda... i used to have rotating avril lavigne avatars, and then when she went on hiatus someone said i had her tied up

so it's an old joke that probably nobody that still posts here gets

i'll change it