Speaking of economic calamity, after settling into a comfortable trough, Las Vegas room rates took another dive this week, down 55% for the September 6-12 period. You can get a room for an average of $106 on the Las Vegas Strip. Surprisingly, midweek business (-52%) showed slightly greater resilience than weekend traffic (rates down -57%) at convention-centric MGM Resorts International. There wasn’t much variance at Caesars Entertainment, down 58.5% overall. Ditto Wynncore, off 52.5%. Despite Palazzo being hors de combat midweek, Las Vegas Sands suffered -64% on weekdays but rebounded to -47% on weekends. The Cromwell was among the properties not taking reservations. There are “zero scheduled conventions” during the survey period, which tells you indirectly how important they are to Vegas. Still, a Sin City hotel room is a better investment than AirBnB, down 67% for 2Q20.
Absolutely, positively have to play cards? Afraid that Washington State Gov. Jay Inslee (D) will order a new round of shutdowns? Then how do you feel about playing in a tent? That’s the route some entrepreneurs are taking. According to Global Gaming Business, Inslee has signed off on the unusual compromise. Maverick Gaming was the moving force behind the brokering of the deal (pun unintended) but unaffiliated Black Pearl Poker Room & Casino was the first to act. “Maverick, to my understanding, has a lobbyist working on their behalf only, not for us or the other card rooms,” says Black Pearl co-owner Dan Baker. The tent idea came about when Inslee postponed card-room reopenings from Phase Two to Phase Four of the state’s Covid-19 recovery plan.
Said Baker of the two-sided tents, “Right now, there’s a little bit of excitement because it’s different. The play seems to be on pace or even a little bit better. We’re limited in our games. We reduced poker tables and gaming tables. It appears that things are going pretty well. I hope it is more than just a novelty.” We hope the Pacific Northwest weather cooperates. So far, players have been amenable to playing in 103-degree heat. Baker told GGB, “We have a pretty stringent sanitizing protocol. The staff is in masks. We sanitize the chips and rails, and there’s surface sanitation on every down. When any player leaves the table, we sanitize the seats and the entrance podium. It’s constant sanitation. We sanitize the cards with UV lights.” It would be hard to find fault with Black Pearl’s approach.
Jottings: Did Mohegan Sun reopen too early? Management is planning a new round of layoffs. If you’ve not been called back to work by August 31, your Mohegan job is kaput … The Mirage reopens August 27. MGM Resorts International is being chary with details of the resumption. And speaking of MGM …
