When people have money to burn, Las Vegas heats up. But as seen twice now in the past decade or so, when the national economy gets hit hard, Southern Nevada ends up on life support.
Casinos & Gaming
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Nevada’s unemployment rate last month was below its peak during the Great Recession but remains high.
The owners of Virgin Hotels Las Vegas are “carefully” looking at its scheduled fall opening after the coronavirus pandemic devastated the economy.
People gambled and hit the pools Saturday, and resorts seemed busier than on Day One, when foot traffic was relatively tame.
Las Vegas’ jobless rate was by far the highest among major American cities in April, new data shows, underscoring the coronavirus pandemic’s financial carnage in Southern Nevada.
Travel spending, including on transportation, hotels and attractions, is projected to fall by $355 billion this year, the group said.
Room rates are climbing an average of about 89 percent across 40 properties on or near the Strip during the draft, according to figures Wednesday on Hotels.com.