The city of Las Vegas is essentially shut down right now. As the coronavirus began taking hold in Nevada, the governor decided to shut down all of the state’s gambling venues. Many analysts now predict that Macau will be an extremely important city for Las Vegas casino companies.
No one really knows when Las Vegas will get back to normal. Covid-19 infection rates continue to increase around the country. Today, we’re going to look at why Macau will prove to be such a valuable location for so many casino operators.
Let’s get into it!
Las Vegas Remains Shut Down Due to Covid-19
Las Vegas is one of the most heavily visited cities in America. People from all over the country flock to Sin City for its entertainment, dining, and gambling options. As the coronavirus began to infect individuals in the US, many felt it was only a matter of time before Las Vegas began taking a hit.
Within just weeks, tourism numbers in the city started to plummet. Several major casinos began announcing they were temporarily closing. Eventually, Governor Sisolak ordered all non-essential businesses in the state, including casinos, to shut down until further notice.
This is proving to be devastating for the Nevada and local Las Vegas economy. It’s well-known that Las Vegas relies on its tourism and gambling industry. A huge number of individuals here are employed in these industries and many have already lost their jobs.
The scary thing is that no one knows when things will get back to normal. Most health experts believe we’re just beginning to see things escalate. It may take months before we reach the peak of infections. Even then, we may see additional infection waves come and go for months afterward.
Las Vegas casino companies have a lot to think about right now. Some may eventually be forced to make tough decisions regarding their properties. Hope is that Macau can help to make up for some of the revenue lost in Las Vegas.
Can Macau Help to Save Las Vegas Casino Companies?
No one disputes the fact that Las Vegas is the gambling hub of the United States. Over in Asia, however, Macau is where all the big players make their bets. This city, technically controlled by Mainland China, is home to a huge number of world-class casinos.
Some of the biggest Las Vegas casino companies operating today run gaming venues in Macau. This includes MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Unfortunately, Macau was recently forced to shut down due to Covid-19, as well.
Over the past few months, infection rates in China and Macau began to drop. Officials in Macau began allowing casinos to open once again. Things are far from normal here, yet it seems like only a matter of time before the casinos in this city are profitable once again.
Some analysts now feel Macau may become extremely important for the big casino operators in Las Vegas. If Nevada continues to keep casinos shut down, the venues in Macau may become these companies’ only real source of revenue.
It’s not going to happen overnight, though. Today, Macau announced a ban on all non-residents from entering the city. Officials here want to ensure that another outbreak does not take place. It’s unclear when this ban will be lifted.
How Will Macau and Las Vegas Fare in the Coming Months?
The entire world is in an unprecedented situation right now. Due to new regulations being set in place, nearly ⅓ of the entire world population is under lockdown. Some equate the measures to what was taking place at the height of World War 2.
A huge number of industries are taking a major hit. Many airline companies are likely to go under. Restaurants around the world are being forced to lay off employees. Even some of the biggest Las Vegas casino companies are concerned about what may happen in the future.
For now, Macau is in a better position than Las Vegas. When casinos closed here, it cost many casino operators millions of dollars a day. Now, things are slowly reopening. If tourism is opened here once again, however, more Covid-19 infections are likely to begin appearing.
The land-based casino industry in Las Vegas may be shut down for many months. Infections in the US are skyrocketing and casinos are unlikely to open here anytime soon.
Hopefully, Las Vegas casino companies can hold out while the coronavirus runs its course. In the meantime, Macau may prove to be the most valuable destination for gambling operators. We’re receiving updates every few hours and things are constantly changing.
Stay tuned for more Las Vegas casino news over the next few months!