On March 17, 2020, the mandate to close all non-essential businesses in Nevada was handed down by Gov. Steve Sisolak. The coronavirus scare had become a reality and the horror of the moment was starting to settle in.
It was the first time in more than 50 years that all of the state’s casinos were closed. This had not happened since the assassination of President Kennedy in 1963.
After the 9/11 terrorist attacks and during the Great Recession when the tourism business in Las Vegas was hit hard, the casinos remained open at all times.
But Caesar Entertainment in March 2020 ,CZR) – Get Free Report MGM Resorts International ,mgm) – Get Free Report and Wynn Resorts ,Wynn) – Get Free Report was one of the city’s entertainment giants who suddenly found themselves staring down the road to an uncertain future, one fraught with downside risk.
Several celebrity residents and guest performances of the Las Vegas Strip were also affected. Lady Gaga canceled her “Enigma” performance, Penn & Teller closed shop, and David Copperfield went dark. The pandemic also called off the Jonas Brothers, Rod Stewart, Cirque du Soleil and the Academy of Country Music Awards.
Eventually, like much of the country and the world, after a year of historic health and financial shocks — largely accompanied by the long-awaited availability of vaccines — people began to move out. They felt better about being around people and crowds. And while this newfound confidence brought with it a willingness to travel, the United States was one of the first beneficiaries.
So far, Las Vegas has mostly recovered. Some casinos did not succeed and closed permanently, but nearly every gaming location did and is still operating. While volumes still lag behind the numbers seen before the pandemic, business is said to be largely robust.
A new health threat emerges
Yet some recent developments are once again giving many reasons for concern. If a new health concern in Las Vegas turns out to be enough to alert visitors, local businesses may have more reason to be apprehensive.
Clark County reported an increase in COVID-19 cases during the second week of the month. While this increase appears to be steady, heads are turning to other health concerns.
Illnesses other than seasonal flu and COVID are currently affecting children in Nevada. Respiratory syncytial virus (RSV), for one, has been prevalent. It is characterized by cold-like symptoms, in some cases causing difficulty in breathing.
Rhinovirus and enterovirus are also causing trouble. They all belong to the United Las Vegas Medical Community.
We have a record amount of pediatric patients at Sunrise Children’s Hospital and most of them are admitted with a respiratory illness and some of them have different viruses at the same time, Steven Merta, Sunrise Hospital and Medical Center’s chief medical officer Told KVVU – TV in Las Vegas.
A local pharmacy owner said she started getting calls from parents about nebulizers and albuterol in early October. And now the nebulizer is the most sought after product in the store.
“I think we’ve probably bought more nebulizers than I’ve ever bought in my 20 years of retail pharmacy,” said Angela Balian, owner of LV Pharmacy & Medical Supplies, according to the television station.
Las Vegas CEO says business is booming
These health concerns come amid a Las Vegas business environment focused on recovery, which is filled with generally positive vibes at this time.
“October was the strongest month in Las Vegas history for Caesars,” Caesar’s Entertainment CEO Tom Reig said during the November 2 earnings call. “We did over $200 million in October EBITDA (earnings before interest, taxes, depreciation) up double digits versus last year on a consolidated basis. October EBITDA for Bricks and Mortar versus October last year Above the double-digit percentage is one fewer weekend days in the 2022 period.”
Craig Billings, CEO of Wynn Resorts, recently made similar comments.
“I’ll start with Las Vegas, where the team posted a third-quarter record EBITDA of $196 million, or about $207 million adjusted for lower-than-usual holdings,” he said during Wynn’s third-quarter call. “We saw broad-based strength in casino, hotels, food and beverage and retail, which are above third quarter 2021 levels despite a difficult year-over-year. Our EBITDA compared to third quarter 2019 is more impressive. Doubled on a 36% increase in revenue.”