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.
Tourism
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Allegiant Air’s parent company posted another quarterly loss Wednesday amid the still-raging coronavirus pandemic but cited “modest, yet consistent” improvements.
The firm behind a proposed chain of Atari-themed hotels in Las Vegas and other cities unveiled more details and made big promises Wednesday.
The nearly 44-acre site is just west of Interstate 15 at state Route 161, on the way to California.
Nevada’s unemployment rate last month was below its peak during the Great Recession but remains high.
It’s not exactly prime time to open a hotel near the Las Vegas Convention Center, but developer Daniel Grimm has decided to give it a go.
The owners of Virgin Hotels Las Vegas are “carefully” looking at its scheduled fall opening after the coronavirus pandemic devastated the economy.
With the Aviators going dark this year , the brunt of the financial pain falls on team owner Howard Hughes Corp.
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.
Allegiant Air passenger volume nearly evaporated last month after the coronavirus pandemic started shutting down much of the economy in March, newly released figures show.
All told, hundreds of thousands of Nevadans work in industries now rocked by sweeping closures – and that doesn’t account for all the people in other sectors that feed off them.
Travel spending, including on transportation, hotels and attractions, is projected to fall by $355 billion this year, the group said.
Developer David Daneshforooz and Shopoff Realty Investments teamed up to acquire a 5.25-acre plot of land on Las Vegas Boulevard just south of Russell Road for $21 million.
Atari announced a licensing agreement Friday with Phoenix developer True North Studio and a firm called GSD Group to build Atari-branded hotels in eight U.S. cities.