Nevada Casino Restrictions Lifting In Phases In 2021, Insiders Optimistic
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Nevada will reduce COVID-19 restrictions and increase capacity on gaming floors starting Monday, Feb. 15. Mohegan Sun Casino at Virgin Hotels Las Vegas announced it will reopening the former Hard Rock Hotel and Casino on March 25. The Hardrock closed in February 2020 as part of a renovation and rebranding. A planned January 15, 2021 reopens was postponed. If COVI- 19 infection rates and hospitalizations continue their decline, casino capacity and the re opening of nightclubs and day clubs at casinos would fall to the jurisdiction of local counties, effective May 1.
In December Las Vegas visitation fell 64% year-over-year and hotel occupancy came in at 31%. That was the weakest full month in Las Las Vegans for visitation and occupancy since casinos reopened. MGM Resorts International closed its casino at The Mirage for midweek business in January. It had previously closed the hotel towers at Mandalay Bay and ParkMGM during the fourth quarter. Company executives expect to reopen those properties seven days a week in March. Caesars Entertainment is encouraged by the progress in easing Nevada’s capacity restrictions and will expand capacity where possible.
The Palms Las Vegas will remain closed for now. The National Indian Gaming Association announced it's bringing its 2021 convention and trade show to Las Las Vegas in July. The easing of restrictions starting Monday won't mean a big increase in visitation immediately, but it is a step in the right direction. It's important to get back to above 50% of visitors to the Strip. There's been a lot of new convention space construction. If it can market it correctly, there's a chance it will attract midweek convention business.
Nevada Casino Restrictions Lifting in Phases In 2021. Wynn Resorts is preparing to open its own testing center where convention attendees and those buying tickets to entertainment venues have a negative test before they can enter facilities. MGM executives expect travel to Las Vegas to be robust by the end of 2021 based on advanced bookings in January. They expect the attendance to increase in the beginning of 2022. They have more than 120,000 rooms under contract for 2021 and they still have significant rooms on the books for the third quarter and more on fourth quarter. People are burned out on Zoom conferences and some big events are scheduled for June.
