November 20, 2020 Casino, Land-Based

Las Vegas tourism increases 16% m-o-m for October

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According to the Las Vegas Journal, the number of passengers at Las Vegas’ McCarran airport saw a month-on-month increase of 16% for the month of October, totalling 1.98 million.

Despite the increase month-on-month, this is still a decline of almost 57% from the 4.6 million passengers who passed through the airport in October 2019.

For the year-to-October, the airport registered 18.7 million passengers, a drop of 57% from the total for the first 10 months of 2019.

Casinos on the Las Vegas Strip were permitted to reopen on the 4 June after months of COVID-19 enforced closures. However, operators in the region have struggled with casino restrictions and reduced tourism in the region.

As a result, operators with a large investment in the area have posted significant revenue declines.

Las Vegas Sands recently reported an 82% drop in Q3 revenue year-on-year, to a total of $586m. The operator later announced it is considering selling its Vegas properties for an estimated $6bn. This would leave the company’s gaming portfolio solely in Asia.

In October, it was reported that more than 1,000 Las Vegas workers will lose their jobs in December as a result of the COVID-19 pandemic.

The cuts will impact around 1,100 workers across the Tropicana, Park Theater and MGM Grand Garden Arena venues.

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