CONVENTIONS/MARCH MADNESS RETURN

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CASINO FLOOR LIMITS INCREASE TO 50% in time for MARCH MADNESS..

              Las Vegas Casino floors occupancy is scheduled to reset to 50% occupancy limit by mid-March, a move industry watchers say offers a glimpse of hope on the gaming and hospitality industries’ road to recovery.
              This move of easing of restrictions comes just in time for Las Vegas’ busy season, with events such as MARCH MADNESS, pool season and major convention bookings on the horizon.
              “Assuming that we can stay on the path that has been announced today, this leads to opportunities,” said Brendan Bussmann, director of government affairs for Global Market Advisors.
              Under Gov. Steve Sisolak’s latest reopening plan, properties will be able to slowly ramp back up to capacity levels that haven’t been seen since the “statewide pause” began in November.  Casino floor operators can increase their 25 percent capacity limit to 35 percent starting Monday and expand to 50 percent on March 15.
LVCVA New 2021 Addition
              Bussmann called the jump to 35 percent occupancy “baby steps” but believes things are heading in the right direction for the gaming industry, the backbone of Nevada’s economy.
              A former longtime casino executive said he appreciated Sisolak’s decision to return to restrictions similar to those in place before the governor’s “statewide pause” in late November, as well as the forward-looking mention of the concrete trade show, one of the city’s “tentpole shows.”

               “The fact that he mentioned that in his speech lets us know that he’s looking towards (a) return to normalcy at some point in ’21, assuming the vaccinations can get out there, and we can continue to mask up and reduce the spread,” said Nehme Abouzeid, president and founder of hospitality consulting group LaunchVegas LLC.
                Las Vegas is just not a gaming town but a World-class Entertainment and Convention metropolis dependent on these industries for the recovery of the City of Las Vegas.

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