With each passing week, the city of Las Vegas is slowly getting back to normal. All of the casino-resorts in this city have been working to bring in more guests lately. Today, news broke that the Cosmopolitan Las Vegas is finally set to resume 100% capacity.
Health officials in Las Vegas clearly believe that things are safe enough for this move. Now is the perfect time to talk about what has led to the casino receiving permission to increase its capacity limit. We’ll also look at what some of the other casinos in the city are doing right now.
Let’s check it out!
Governor Sisolak Continues to Loosen Restrictions
Nevada’s economy is one that relies heavily on tourism. In March of 2020, the tourism industry in this state came to a screeching halt. Things began to open up over the summer, yet tourism numbers here remained far below what was seen in years prior.
2021 has represented a major comeback for this city. Tourism figures and gambling revenue has been steadily growing as the months go on. March ended up being the most successful month for this city in quite some time.
Reports have confirmed that gaming revenue in Nevada increased by 67% in March. Overall, the state brought in just over $1 billion in revenue. It was a fantastic sign for the state and the city of Las Vegas, in particular.
Today, Governor Steve Sisolak announced that all counties across Nevada have the pandemic under control. As a result, he is easing back on the mandator mask mandate. This is expected to help the tourism situation in the state even more.
Casinos here are certainly happy to see things improving. As time goes on, more of them are beginning to increase their available amenities. The brand-new Virgin Hotel-Casino, for example, recently announced that it is set to open many new amenities over the next few months.
The Las Vegas Strip is still the most lucrative area of the city. It’s here that all of the most expensive casino-resorts are located. It now appears one of the most popular venues here is ready to increase its capacity limit again.
The Cosmopolitan Las Vegas is About to Resume 100% Capacity
When the casinos in Las Vegas first reopened their doors in March, things were far from normal. The state government ordered all of these gambling venues to abide by intense health regulations. As a result, very few individuals were making the trip to the city.
As restrictions are lifted, tourism numbers go up. A huge number of people are now flocking to Las Vegas to take part in the newly opened festivities. This summer will likely bring record levels of visitors to the city.
This week, news broke that the Cosmopolitan Las Vegas is set to resume 100% capacity. This venue recently hit its goal of vaccinating 80% of its workforce. As a result of this goal, the Nevada Gaming Control Board has given permission for this venue to operate at full capacity. J. Brin Gibson, Chair member of the Nevada Gaming Control Board, spoke about this decision to the media this week.
“The Cosmopolitan demonstrated substantial efforts to vaccinate its workforce and have set an industry standard in what can be accomplished through smart and swift action,” he said. “As a result, The Cosmopolitan is one of few Las Vegas gaming properties to receive approval to return to full capacity due to its overwhelming employee response, and we’ve asked them to share their methodology, strategy and success with the wider hospitality industry. We look forward to seeing all resort partners across The Strip continue the momentum.”
This is a massive move for this property. Many are excited to see how expanding the capacity limits affects revenue figures here. It’s important to note that the Cosmopolitan Las Vegas isn’t the only major venue to make this move. Wynn Resorts announced earlier this week they planned to operate at 100% capacity, too.
The economic situation over in Las Vegas is clearly getting better. Fortunately, things are also improving over in Atlantic City.
New Jersey’s Gaming Revenue Surged in March
It was fantastic to see how much gambling revenue surged in March. This wasn’t much of a surprise when considering how low revenue figures were in March of 2020. All major gambling hubs are reporting major year-on-year revenue increases.
That is certainly the case in New Jersey. This major gaming hub reported $359.2 million in gaming win this March. That is a staggering 120% increase when compared to March of 2020.
The casinos in this state also reported $859.6 million in total sports betting handle for the month of March. Of that, these casinos managed to keep $60.7 million. These revenue increases are expected to continue as the year goes on.
Some analysts believe that many of the remaining restrictions set in place here are still leading to lower-than-ideal tourism numbers in Atlantic City.
It’s an interesting moment for the entire US land-based casino industry. Some big moves are being made by the biggest gaming companies around the country. We’ll be sure to offer updates on revenue figures over the next few months.
Do you plan on staying at the Cosmopolitan Las Vegas this year? Let us know in the comments section below!