Three pieces of good news that show that Las Vegas will bounce back from the pandemic
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Ten-plus months into a pandemic, Las Vegas is getting some good news. Unemployment dropped statewide, people are ready to hold meetings and conventions in Las Las, and net income for casinos increased over 2019 numbers.
Conventions are planning to return to Las Vegas. World of Concrete is rescheduled for June 8-10 at the Las Las. Vegas Convention Center. Previous World Concerations drew 60,000-plus attendees. Las Nevada Convention and Visitor Authority study found that business travelers prefer to attend in-person meetings.
Nevada's unemployment rate dropped to 9.2 percent in December. The state added 8,200 non-farm jobs. Las Vegas recorded the highest unemployment in November. Nationwide, the unemployment for December hit 6.7 percent. Nevada borrowed $133.5 million to pay for unemployment during the pandemic.
There are 267 casinos in Nevada that grossed $1 million or more in gaming revenue. They made a combined net income of $2.9 billion from total revenues of $18.3 billion. In fiscal year 2019, the net profit was $ 2 billion on total revenue of £24.5 billion, which includes money spent on rooms, food, beverages, attractions and gaming.
