Apollo Global Management is making a multibillion-dollar wager on America’s casino capital and hoping it’s rolling the dice on the way out of a national crisis, not on the way in.
Casinos & Gaming
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Tourism has fueled the economy for decades. The pandemic has painfully exposed its dangers.
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.
The owners of Virgin Hotels Las Vegas are “carefully” looking at its scheduled fall opening after the coronavirus pandemic devastated the economy.
Nevada casino regulators have opened more than 150 cases over noncompliance with health and safety policies and, among that tally, filed three formal complaints, officials said Tuesday.
Three months after coronavirus turmoil shut off construction of the Drew Las Vegas, contractors have levied claims for more than $36 million in unpaid bills.
People gambled and hit the pools Saturday, and resorts seemed busier than on Day One, when foot traffic was relatively tame.
Visitors were happy to be back, but overall, Las Vegas’ casino reopening wasn’t met with stampedes of incomers.
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.
A representative for the $4.3 billion hotel-casino project on Thursday announced the new cases of the respiratory disease caused by the novel coronavirus.
The Hard Rock’s renovation is still on schedule, President and CEO Richard “Boz” Bosworth said, but the economy is in turmoil with record job losses, and there are still plenty of unknowns.
Resorts World said in a statement that it learned Saturday of the positive case.
The area where the worker had been assigned, and the surrounding vicinity, has been “shut down and is being sanitized immediately” and will remain closed until April 1.
With the new coronavirus upending daily life in Southern Nevada, at least one major real estate project has shelved construction work over the public health crisis.
Travel spending, including on transportation, hotels and attractions, is projected to fall by $355 billion this year, the group said.