It’s been almost a year since the historic casino shutdowns across the city of Las Vegas. Since that time, tourism rates in Las Vegas have been significantly lower than what was seen in years prior. Many are now trying to predict when tourism numbers here will return to the levels seen in 2019.
In a way, this is almost trying to predict when the world will return to the way it was in 2019. There’s simply no way to know. Many believe there is reason to be optimistic about the future of Las Vegas, though.
Now is the perfect time to look at what could lead to an increase in tourism here!
Las Vegas Casinos Begin Expanding Their Operating Hours
As most are aware, all of the casinos in Nevada were forced to shut down back in March of 2020. This was the first time this had ever happened in history. Incredibly, many of the casinos forced to shut down that month remain closed to this day.
It’s amazing to see. Las Vegas has long been the world’s biggest and most profitable gambling destination. Casino companies here are choosing to keep many of their properties closed until they can see a clear profit margin from reopening.
Most of the biggest casino-resorts in Las Vegas chose to reopen over the summer. Tourism rates didn’t immediately increase here, however, and some quickly began closing down during the weekdays. This month, some of the biggest casinos here announced they were reopening during the week.
That includes several of MGM Resorts’ properties. The Mirage, Mandalay Bay, and Park MGM all recently announced they are reopening to the public during the week. It’s a clear sign that Las Vegas is beginning to recover.
Things are still far from how they were prior to March of 2020. Tourism rates in Las Vegas remain low and gaming revenue is still lagging. If all goes according to plan, though, this summer will end up being a good one for the city.
Analysts are busy trying to predict when Las Vegas will see pre-pandemic levels of tourism. Let’s look at some factors that could contribute to this happening.
What Will Help to Increase Tourism Rates in Las Vegas?
Las Vegas is unlike most other cities around the country. A huge portion of the economy here almost completely relies on tourism. Without visitors flocking to the city on a regular basis, many of the businesses here simply cannot survive.
As you might expect, many of the officials here have been working hard to boost tourism rates. It hasn’t been easy during one of modern history’s worst health crises. Fortunately, there are some signs that things could improve in a big way by the summertime.
Vaccine distribution continues to increase around the United States. As a result, more people are feeling confident taking much-needed vacations. Airline travel is up considerably lately and Las Vegas is beginning to see an uptick in tourism rates.
The opening of several exciting new casino-resorts will also likely help to boost tourism rates here. That includes Circa Las Vegas, Resorts World Casino-Resort, and the Virgin Hotel-Casino. Resorts World, in particular, is expected to be one of the most exciting new gambling venues ever built in this city.
Fletch Brunelle, Vice President of Marketing for the Las Vegas Convention and Visitors Authority, believes we’ll see a tourism increase later this year.
“It shows the resiliency of Las Vegas and it talks about the desire for travelers to come back to this great destination when things are back to somewhat of a normal level,” he said. “Our hope for 2021 is that as we hit March, April, May, June, and frankly as we get into the third quarter, that there will be enough vaccinations as well as individuals that have recovered from the virus that we will see a good amount of herd immunity.”
There is no telling when exactly tourism rates in Las Vegas will reach 2019-levels. We’ll be sure to report more on these numbers over the next few months.
Casino Revenue is Increasing Around the United States
Las Vegas isn’t the only city in the United States seeing its casino industry improving right now. Many of the country’s biggest casino hubs are seeing revenue increases lately, too. That includes Atlantic City.
Revenue reports on gaming revenue in New Jersey for January have just come out. Many are excited to see where things stand. Atlantic City’s casino revenue increased by 9.3% that month.
There are some caveats here, though. Much of this revenue increase comes from the state’s sports betting operations. In-person casino revenue actually dropped when compared to January of 2020.
That is not a surprise when considering the differences in the world now compared to January of last year. The casino owners in this city are still happy to see revenue increases. New Jersey is now home to the country’s biggest sports betting industry.
Several other states are seeing revenue increases from their gaming industries, too. That includes Colorado and Oklahoma. This trend is likely to continue as the health situation around the world improves.
When do you expect tourism rates in Las Vegas to reach 2019’s levels? Let us know in the comments section below!