The current casino openings scheduled will be Wynn, but not Encore ASAP. MGM will open NYNY & Bellagio in June 2020 followed by Park MGM (the old Monte Carlo, next to T-Mobile) in October. The MGM Grand is Jan 2021, Luxor Mandalay Bay in March or April 2021, Aria in August of 2021 followed by Mirage in November of 2021. Of course, all will be adjusted based on occupancy and earnings +/-. Red Rock Resorts formerly known as Station Casinos for those that like the off Strip properties will open Red Rock, Green Valley Ranch, Sunset Station, Palace Station and Wildfires. Fiestas, Texas Station and The Palms have no opening date. It seems The Palms is for sale. Not good for Red Rock Resorts, since they purchased Palms for $312M, did a terrible renovation for $690M and now will keep closed. Glad I left my position as a Pit Boss 10 years ago.
Local restaurants that offer curbside food, have survived, but many owners may be closing soon. Having two chefs, a waiter delivering food curbside and a person answering the phone is fine. However, Clark County Health District making them close the bar part of restaurant, no video poker, only half of the tables, half capacity, with staff and lease expenses will not make is feasible on small margins in the industry. Yes, lots of restaurants have a bar section and table top video poker, if you have never seen. The night club industry which ushered in the wild side and high drink prices has been devastated. My insider at Hakkasan Group doesn’t think the nightclubs will reopen till Spring of 2021. The days of Rehab pool parties and people everywhere are over.
Obviously, there will be a slow recovery. The casinos may only have a day shift and swing shift operating table games. BJ will only have 3 players, Roulette 4 players and Craps 6 players per table. I wouldn’t be surprised if the casinos added a touch screen in place of chips and ticket in ticket out procedures for table games as they have for slots. The remaining employees will go back to different shifts and most likely partial hours and be glad to have them. Lots of middle management will be unnecessary and let go. MGM laid off half of their casino Presidents. I have seem a significant reduction in home prices, but I’m sure with forbearances and other systems put in place by US Gov’t has slowed it down. I wouldn’t be surprised to see a mass exodus of population, since tourist industry and construction are such major players here in the valley. I would estimate 200k could leave. It will be interesting to see how many kids show back up to private schools and the Clark County School District in August. The real details will be in August of 2021 versus August of 2019. Hopefully, the Raiders and Golden Knights will bring tourists back. As for now, I’m enjoying the very light traffic during rush hour, awaiting sports to start back up and watching for investment opportunities. Good luck friends!
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To remove first post, remove entire topic.
The current casino openings scheduled will be Wynn, but not Encore ASAP. MGM will open NYNY & Bellagio in June 2020 followed by Park MGM (the old Monte Carlo, next to T-Mobile) in October. The MGM Grand is Jan 2021, Luxor Mandalay Bay in March or April 2021, Aria in August of 2021 followed by Mirage in November of 2021. Of course, all will be adjusted based on occupancy and earnings +/-. Red Rock Resorts formerly known as Station Casinos for those that like the off Strip properties will open Red Rock, Green Valley Ranch, Sunset Station, Palace Station and Wildfires. Fiestas, Texas Station and The Palms have no opening date. It seems The Palms is for sale. Not good for Red Rock Resorts, since they purchased Palms for $312M, did a terrible renovation for $690M and now will keep closed. Glad I left my position as a Pit Boss 10 years ago.
Local restaurants that offer curbside food, have survived, but many owners may be closing soon. Having two chefs, a waiter delivering food curbside and a person answering the phone is fine. However, Clark County Health District making them close the bar part of restaurant, no video poker, only half of the tables, half capacity, with staff and lease expenses will not make is feasible on small margins in the industry. Yes, lots of restaurants have a bar section and table top video poker, if you have never seen. The night club industry which ushered in the wild side and high drink prices has been devastated. My insider at Hakkasan Group doesn’t think the nightclubs will reopen till Spring of 2021. The days of Rehab pool parties and people everywhere are over.
Obviously, there will be a slow recovery. The casinos may only have a day shift and swing shift operating table games. BJ will only have 3 players, Roulette 4 players and Craps 6 players per table. I wouldn’t be surprised if the casinos added a touch screen in place of chips and ticket in ticket out procedures for table games as they have for slots. The remaining employees will go back to different shifts and most likely partial hours and be glad to have them. Lots of middle management will be unnecessary and let go. MGM laid off half of their casino Presidents. I have seem a significant reduction in home prices, but I’m sure with forbearances and other systems put in place by US Gov’t has slowed it down. I wouldn’t be surprised to see a mass exodus of population, since tourist industry and construction are such major players here in the valley. I would estimate 200k could leave. It will be interesting to see how many kids show back up to private schools and the Clark County School District in August. The real details will be in August of 2021 versus August of 2019. Hopefully, the Raiders and Golden Knights will bring tourists back. As for now, I’m enjoying the very light traffic during rush hour, awaiting sports to start back up and watching for investment opportunities. Good luck friends!
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