Now the real damage will start and it'll only get worse. The Free Ride & Profits all these years is officially over.
MGM Resorts International said Friday it is sending separation letters to 18,000 U.S. employees who were furloughed during the coronavirus pandemic, making their job cuts permanent for now.
MGM's Empire City remains closed in New York state, as does its Park MGM in Las Vegas. Casinos in Las Vegas, where MGM has an outsized presence on the Strip, continue to be especially affected by declines in tourism and travel, restrictions on capacity, the lack of fans at sports events, and negligible conference and group business.
https://www.cnbc.com/amp/2020/08/28/mgm-resorts-sends-separation-letters-to-18000-furloughed-employees.html
The casino business is tough........ you can not trust anyone.
https://apnews.com/b3c24f68dfed486dcdce766dce73b8fa
Time for the online casino to rise?
Vegas is out of action for at least another year until there is a vaccine...and even then, many people will choose not to get vaccinated, so there is still a chance the virus will keep on spreading.
https://www.dailymail.co.uk/news/article-8726053/Las-Vegas-ghost-town-strippers-signs-saying-Sorry-clothed.html
And this place is expected to open next July in Vegas....what a nightmare....talk about bad timing!!!
https://www.rwlasvegas.com/
Quote from: 8OR9 on September 13, 2020, 03:30:28 PM
Vegas is out of action for at least another year until there is a vaccine...and even then, many people will choose not to get vaccinated, so there is still a chance the virus will keep on spreading.
You are exactly right.
The problem with Vegas is it turned from really gambling for the majority of its revenue into the resort, club, parking fees, resort fees, entertainment and party revenue rather than what it used to be.
With the majority of the visitors paying out-of-pocket for almost everything and gambling as a sideways entertainment rather than the opposite way around, what it was for years up to I would say around 2,000 Vegas took on a huge expense with everything they provide to bring in the crowds and now they can't bring in the crowds to spend money.
Now with the other venues even where I live in the middle part of the United States table games are routinely up to $5,000 at even the smaller properties and $10,000, $25,000 table limits and greater a hand at the highest majority of the national branded casinos. So for the serious players there's no need to go to Vegas. And they get extremely well comped for what they need as far as a suite, great food, etc., as well there's no other nonsense charges, there's no other travel fees, they don't have to take away from their business or their family to gamble for one or two nights a week and they can play very serious and these other chains have been capitalizing on that extremely well.
And you don't have the crowds that Vegas has and you don't have the problems that Vegas has. As well you don't have the travel problems. One can you gamble very seriously in other parts of the United States now without going to Vegas.
People are realizing that and that alone is going to haunt Vegas for a lot longer than when C19 subsides. You could take that one to the bank.