21 Las Vegas Predictions for 2021

From Vital Vegas

https://vitalvegas.com/21-las-vegas-predictions-for-2021/

THAT is a lot of (mis) information to absorb!

One thing is always predictable=CHANGE.

He's right that the Vegas casinos will all be exchanged like giant poker chips, because the pandemic has shown that they're not necessarily good or sound investments. The gross blunder Vegas has collectively made that makes the casino industry so fragile is to move from "land of good deals" to "gouge-fest." That undoubtedly pumped up the bottom line during the boom times, but now, when people are short on money and cautious about infection risk, a LOT of people look at resort fees parking fees 6:5 blackjack yada yada and say, y'know, I don't need to go there now. Plus, a lot of people have gone there and found how diminished--and still very expensive--the whole experience was for them.

My prediction for 2021 is that the gouge will continue, and many casinos currently closed will not open up. It's particularly telling that Stations is dumping or not reopening most of its casinos, eating half a billion dollars in the process. (And I'm sure the suits in charge attribute their financial troubles to the slowdown rather than their gross mismanagement.) 

The big question is how much of the convention / corporate / big-event business comes back.    Clearly the Strip casinos need that to survive.    And I think it will - especially the corporate stuff.   Companies pretend like those excursions are educational and/or relevant to business so they can write it off.    Really they are just big open-bar celebration parties.   You cant do that on Zoom.

Kevin, I am not a fan of Stations, but they are NOT "dumping or not reopening most of its casinos."

Red Rock Resort - open

Green Valley Ranch - open

Palace Station - open

Sunset Station - open

Boulder Station - open

Santa Fe Station - open

Wildfire Casinos - 6 of them - open

Palms, both Fiestas and Texas Station - closed.

So, not counting the Wildfire Casinos, 4 closed and 6 open. My math says 60% open.

With  the Wildfire Casinos, its 4 closed and 12 open. My math says 75% open.

You confuse Kevin with actual facts, which are the antithesis of liberal logic.

I understand the Texas Station/Fiesta Rancho closing.    Santa Fe Station is just a few minutes away.   Too many properties in one place.   I dont understand the Palms being closed.    Accross the street Gold Coast was as packed as I've ever seen it a few weeks ago and that was with no National Rodeos Final.     

I've never known Palms to struggle attracting people.   Odd thats its closed IMO 

Proof, Davey-poo?

OK, I should have said "many," not "most." What's shut down still represents a huge portion of their pre-pandemic business (all six Wildfires add up to about 1/3 of a regular Stations property in terms of business volume). My point remains, which is that Stations is taking a HUGE financial hit from dumping those properties, especially since they paid much more to acquire them than they're getting for the fire sale. Corporations don't dump assets at huge losses unless they perceive that holding onto them will cost even more.

People who post lies should not be posting at all. When posting, use facts, not guesses.