The coronavirus has now spread throughout the entire United States. Perhaps no city has been affected by this new virus quite as much as Las Vegas. According to new reports, Las Vegas construction projects have been slowing down considerably.
This is a tough time for people around the world. Several major industries are being hit hard. Today, we’re going to discuss the impact that Covid-19 is having on major construction projects inside Las Vegas.
Let’s get into it!
More than 130,000 Covid-19 Infections Are Now Confirmed in the US
As most are well aware, the new coronavirus is quickly spreading around the world. Unfortunately, no one saw this virus spread coming. It’s exposed just how unprepared many of the world’s most powerful countries were for a pandemic.
In early March, less than one hundred cases were confirmed in the United States. Today, more than 130,000 people have been officially diagnosed with the coronavirus. Every day, thousands of new cases emerge.
Some states are being hit harder than others. As of now, New York is the epicenter of the epidemic in the US. This state has nearly 60,000 cases including tens of thousands in New York City. New Jersey and Louisiana are seeing their infection rates surge, as well.
Nevada saw its first cases emerge in early March. Since that time, nearly 900 individuals here have caught Covid-19. As a result, much of the entire city has been shut down.
All casinos in Las Vegas are closed to the public. The tourism industry here has essentially shut down. Obviously, this has been devastating for a huge number of businesses and individuals.
New reports show how Covid-19 is affecting major Las Vegas construction projects.
Las Vegas Construction Projects Are Slowing Down
As we just mentioned, the new coronavirus is affecting a huge number of industries in Las Vegas. Perhaps the most notable is the gambling industry. All major casinos have been forced to shut down in the city. It’s unclear when these venues will be able to open again.
Governor Sisolak has called for all non-essential businesses to shut down. Fortunately, the state is still allowing construction to take place. That’s not entirely surprising, considering a huge number of massive Las Vegas construction projects are currently underway.
It appears many of these projects are slowing down, though. Workers at the new Allegiant Stadium and the Resorts World Las Vegas have tested positive for Covid-19. This is led some lawmakers to discuss the possibility of halting all construction.
No one wants to see these projects completely stalled, though. In the mid-2000s, many projects were stalled due to the recession. This cost thousands of people their jobs and was devastating to the local economy. City officials now need to weigh the safety of residents and the impact that new regulations will have on Las Vegas.
For now, construction is still able to take place in Las Vegas. If the gambling industry remains closed and more Covid-19 infections begin to emerge, however, we may see some of these projects put on hold.
Las Vegas Casino Companies Receive Help From Stimulus Bill
Many of the biggest casino companies in the world are based in Las Vegas. This includes MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Today, all of these companies are bleeding revenue due to the regulations in Nevada.
Many of these companies claimed that unless things changed, they would be unable to continue operating. Reports surfaced that show they are currently losing millions of dollars every day. Many casino officials began asking the government for relief.
Last week, a massive new stimulus bill was officially signed. Many of the major casino operators in Las Vegas are taking a sigh of relief. Under the new bill, casinos in Nevada can receive money from the $450 billion in government loans now being offered.
Brian Ahern, a spokesperson for MGM Resorts International, commented on the bill to the media this week.
“Our goal is to reopen our doors and get employees back to work as soon as public health and safety allow. These provisions help pave the way for that outcome,” he said. “We are pleased the economic relief package offers financial support immediately.”
Casino companies are getting some much-needed relief. Unfortunately, several major Las Vegas construction projects are in danger of being halted.
Stay tuned for more Las Vegas news over the next few weeks!