Last week, Caesars Entertainment Corp. announced that it would reopen its fifth casino, Bally’s, this month. Meanwhile, Las Vegas Sands Corp. is set to close its Palazzo hotel tower on weekdays, limiting its available rooms for the majority of the week. The moves have sent mixed messages on just how many rooms resorts are filling in mid-July, a little over a month since reopening.
On May 22, the casino operator issued letters warning of possible impending layoffs . affecting anywhere between 25 and 60 percent of employees. The company had approximately 10,000 employees in Nevada.
The state Gaming Control Board on Tuesday reported a May casino win of $5.8 million, down 99.4 percent from May 2019.
Japan is getting ready to issue three highly coveted gaming licenses. The country’s gaming market is estimated to be worth more than $25 billion a year once resorts open in 2025. If the estimates stand up, Japan would become the second-largest gaming market in the world behind Chinese gaming enclave Macau. MGM and at least eight other companies had been vying for the Japanese licenses. In 2019 Las Vegas Sands Corp. and Wynn Resorts Ltd. turned their attention to other areas. Caesars Entertainment Corp. dropped out of the race altogether. MGM teamed up with Japanese financial services group Orix for its bid for a gaming license. MGM/Orix group was the only one to participate in the RFP process. “We think MGM is in a very good position in Osaka at this point” – Union Gaming analyst John DeCree (Las Vegas Review-Journal)
