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Las Vegas Sands (LVS) could soon embrace online gaming despite long-time opposition from CEO Sheldon Adelson, who died on Jan. 11, industry experts said. Then-President Donald Trump awards the Presidential Medal of Freedom to Miriam Adelson in 2018. The widow of Las Vegas Sands CEO Sheldon Adelson could play a key role in shaping the company’s priorities, such as on online gaming. (Image: Saul Loeb/ AFP via Getty Images) His legacy will not lead to prohibitions against online gambling or sports betting initiatives at the company. Instead, opportunities exist for LVS in these areas in an overall climate where gaming expansion is expected to continue, the experts add.
Nevada’s gaming floors, bars, and restaurants must keep in place the 25 percent occupancy limit for another 30 days due to coronavirus risk, Gov. Steve Sisolak (D) announced on Monday. But the move led experts to question its effectiveness and the impact on the economy. Nevada Gov. Steve Sisolak (D) seen here. On Monday, he extended the 25 percent occupancy restriction on gaming floors and other businesses for another month. (Image: KLAS) “You do wonder how much longer the Nevada economy can take lockdowns of 25 percent,” said the Rev. Richard McGowan, a finance professor at Boston College who closely follows the gaming sector, to
MGM Resorts International has furloughed about 140 managers at its Las Vegas properties. That’s while it also is planning to hire 400 seasonal pool workers starting next month, according to local news reports. The pool at the MGM Grand, seen last March. MGM Resorts will hire several hundred pool-related workers soon, as it also furloughs Las Vegas property managers. (Image: Las Vegas Review-Journal) Since the COVID-19 pandemic outbreak began, close to 63,000 MGM employees were furloughed last year. Some 18,000 were laid off in August. Still, MGM Resorts announced this week the company is hiring 400 seasonal workers for pool-related jobs. On Saturday, MGM will hold an online career fair to fill the positions. Jobs include attendants, lifeguards, receptionists, retail staff, and security officers.
Boston College Prof., Rev. Richard McGowan warned that the capacity limit of 25 per cent could force many gaming properties in the state to permanently discontinue operations. However, those properties that rely on revenue from table games, food and entertainment might not hurt much. Commenting on the new restrictions, McGowan said, “If a casino is dependent on slot machines for their revenues, then 25 percent capacity is a death warrant. If the casino is one that depends on high rollers, i.e., table games and large expenditures on food and entertainment, then it might not hurt as much.” After closely following and analyzing New England gambling trends, McGowan predicted that some venues like Encore Boston Harbor might be able to survive if the high rollers continue to fly into Boston. However, lack of patrons will hurt venues like MGM Springfield and Plainridge Park Casino a lot.