When it comes to good news about the tourism industry in southern Nevada, it doesn’t get much better than last week.
The good vibrations came in bundles.
McCarran International Airport’s passenger numbers began with the report that passenger traffic rose 60 percent from February to March and 25 percent from March 2020 to March this year.
Then came the report from the Nevada Gaming Control Board that gaming profits had surpassed $ 1 billion for the first time since February 2020, and reached their highest level in more than eight years.
On the same day, the Las Vegas Convention and Visitors Bureau reported 2.23 million visitors in March, an increase of 44.8 percent from February and 45.7 percent more than in March 2020. This prompted the LVCVA to include the numbers for 2021 to compare 2019 results to give the public a chance to better compare to prepandemic, a great idea.
CES is coming back
Shortly after the LVCVA was released, the Washington-based Consumer Technology Association announced something we already knew but wrapped up in new details: CES, the massive consumer electronics show that arrives in Las Vegas every January, goes live in 2022 to return.
You may recall that CES 2021 was offered entirely online with no one in the city’s convention halls. The association confirmed that CES 2022 would be a live event, adding dates for the show next year January 5-8, with media previews January 3-4.
These dates are interesting as CES attendees have the chance to populate local resorts Monday through Saturday after tens of thousands of people are believed to have been in town the previous weekend for New Year’s Eve.
The resort industry in general likes that CES is here around the middle of the week, presumably Sunday through Thursday, so after leaving the CES crowd they can enjoy the weekend recreational goers. The CES 2022 dates will move into the weekend. But hey, just having CES back is going to be a huge win for the local economy.
The last good news came from MGM Resorts International in the first quarter, when CEO Bill Hornbuckle said the company was looking to return to pre-pandemic levels a little earlier than forecast.
“We’re really looking forward to the summer and fall,” said Hornbuckle. “We believe that the Regionals will return to 19 levels by the end of the year and … in the first half (of 2022) versus the second half, except internationally, we believe that we will return to 19 levels here in Las be Vegas. “
There are many indications that MGM’s outlook is being duplicated by other companies. Caesars Entertainment Inc. and Wynn Resorts Ltd. have not yet published any results for the first quarter and have not yet commented on the future. In the past few months, both have expressed optimism about the return of visits due to future bookings for congresses and trade fairs. Caesars and Wynn both barely used conference centers that they will fill in the coming months.
Here comes World of Concrete
The Las Vegas Convention Center will host the World of Concrete in early June, and the first resort in more than a decade opens on the Strip on June 24th. I tend to agree with Scott Sibella, President of Resorts World Las Vegas, that July 4th – A three day weekend two months away will be the biggest Independence Day celebration in Las Vegas history.
There will also be a return of special events, with concerts at the Allegiant Stadium, full participation in the Raiders games for the 2021 season and the Life Is Beautiful and Electric Daisy Carnival festivals taking place in the fall.
What is that supposed to mean?
Brenden Bussmann, director of government affairs at Global Market Advisors, said all the news was good last week – but some issues still need to be addressed.
“Our comeback really started when Wynn made his announcement, ‘Here’s our health and safety plan for the future,’ long before they reopened,” he said. “Of course we’ve had bumps along the way since last June, but if you’re looking forward to a reopening, when hopefully we’re at 100 percent, we’ll have a full year of ups and downs, but we’re headed in the right direction . “
Bussmann said it was clear that demand for Las Vegas was high based on the number of people who came here even during periods of lower capacity during the pandemic.
Signs of optimism
Other signs of optimism abound, as well as some cautionary views, Bussmann said.
“Other signs I see out there are several new entrants. Are Bally’s and Planet (Hollywood) for sale or both? “He asked.
Airline lift is a major concern, and that includes concern about the return of international flights.
“People will be returning to Vegas when they can and they want the full Vegas experience,” said Bussmann. “While we appreciate all of the people who came back during the pandemic that they might just have been here to play and stay and have a nice bite to eat, hopefully the light at the end of the tunnel is there with shows and gatherings to to come back totally. “
He said he sees continued optimism about where things are going, but noted that the challenges that remain are to keep more people busy. “It won’t be ideal to begin with, but once the volumes come back it will be pretty good.”
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.
