Tag: las vegas
Casino Job Losses Due to Coronavirus
The threat of massive casino job losses from the Coronavirus pandemic is a very real danger. Actually, the fear of crowds and a lack of expendable money could shut down the entire tourism industry across America for years. In Nevada, where casino companies reign, an estimated one in three workers is directly or indirectly employed by the leisure and hospitality industry, according to analysts. States like Nevada, Hawaii and Florida could be devastated. However, under the new Coronavirus stimulus package signed by President Trump, some casino workers may actually earn more money from unemployment benefits than what they earned before…
US Casino Closures Until May (at least)
In what probably comes as no surprise to most Americans, President Trump recently announced continued social distancing through April, which means the US casino closures will almost certainly continue. Details about this extension and the most recent Coronavirus updates may come as early as tonight. Those recommendations include refraining from social gatherings of more than 10 people, working from home if possible, and eschewing any discretionary travel. It also includes maintaining a minimum of six feet of distance between people known or suspected to have the Coronavirus. Obviously, this will profoundly affect US Casinos. The projected peak death rate is…
Tropicana Las Vegas Sold
Ah, the Tropicana Las Vegas. An actual landmark. One we have teased a bit over the years, but still one of the oldest and most recognizable names in Sin City. But are it’s days on the Strip over? Last week, owners Penn National announced they would be selling the Tropicana to navigate through the financial downturn caused by the Coronavirus outbreak. They are disposing of the real estate assets but it will continue to operate the facility. Given the uncertainty about the duration of the pandemic and with no meaningful revenue for the foreseeable future, the gaming company also said…
Las Vegas Shut Down
Never in my wildest dreams would I imagine we would see Las Vegas shut down… and yet, here we are! The Governor of Nevada ordered all casinos in the Silver State to shutter their operations by 11:59pm on March 17. The restrictions will remain in place for at least 30 days and will be enforced by the Nevada Gaming Control Board. The order comes amid concerns over the spread of the novel Coronavirus, and as part of a nation wide effort to slow it’s spread. All casinos across the state required to shut down gaming devices, machines, tables, games and…
Mandalay Bay and MGM Grand Sold
Mandalay Bay and MGM Grand Sold: MGM Growth Properties and Blackstone Real Estate Income Trust, Inc. have announced they have entered into a definitive agreement to form a new joint venture to acquire the Las Vegas real estate assets of the Mandalay Bay and MGM Grand for $4.6 billion. In addition, BREIT will purchase $150 million in MGP Class A shares. MGP will own 50.1% of the joint venture, and BREIT will own 49.9%. At closing, MGM Resorts International will enter into a long-term triple net master lease for both properties and provide a full corporate guarantee of rent payments….
This Week in Gambling Filming in Vegas Soon
This Week in Gambling is happy to share our schedule for filming in Vegas this coming Memorial Day weekend, and you’re invited to crash our set… if you’re in town. We will be shooting scenes with performers and tourists on the Strip and down on Fremont Street, and we welcome anyone to walk right up and jump in with us… if you like being on camera, of course. Our schedule is listed below, and we hope to stick to it as close as possible: Thursday May 23rd, 2019: 4pm: We will begin at the iconic Las Vegas sign then…