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This Week in Gambling: Some Las Vegas casinos may not survive COVID-19 closure

19 Aug 2020

Will the coronavirus closures mean the end to some of Sin City's best known casinos? There is talk that some Las Vegas casinos will not survive and may never reopen again.

Las Vegas casinos and the city itself are known for never sleeping, but several of its properties have had their lights turned off for nearly five months. A total of 11 properties owned by MGM Resorts International, Caesars Entertainment Inc., Red Rock Resorts Inc. and Boyd Gaming Corp. have yet to reopen in Las Vegas, as occupancy rates hover as low as 30 percent on weekdays.

Caesars executives revealed that the future of some properties remains uncertain. The Cromwell, Planet Hollywood Resort and the Rio remain closed. The Linq Hotel, another Caesars Entertainment property, doesn’t yet allow room reservations.

MGM Resorts has yet to reopen Park MGM. Its sister property, the Mirage, is set to reopen Aug. 27. In a July 30 earnings call, CEO Bill Hornbuckle said all of the company’s reopened properties are cash flow positive, with the exception of Mandalay Bay. Hornbuckle did not say why Park MGM is among the last to reopen.

Red Rock has yet to reopen four Southern Nevada properties: Texas Station, Fiesta Henderson, Fiesta Rancho and the Strip-adjacent Palms. Chairman and CEO Frank Fertitta III said the company doesn’t know “if or when” it will reopen any of its closed properties.

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