E Las Vegas And Covid-19 Weakest Link

We drove down the Strip 3/21/20. There were lots of cars, more than reported recently. Many lights were on. Had the Bellagio and Caesars had more lights, things would have been close to normal. Caesars did have the Forum lights on and Bellagio had the lights near the water feature on. The fountains are shut down.

I saw three people walking. The sidewalks were empty, with few exceptions. The casino floors were closed. It was so odd and eerie.

But Las Vegas is poised to bounce back. Mayor Goodman wants a reassessment in two weeks. A partial bounce back is doable, but with one major obstacle holding it back.

 

Strip: Property of Cheri Johnson used with Permission

The Weakest Link

New York City and Las Vegas have had a historical and positive link for many years.  Las Vegas gets many tourists and former residents from the Big Apple. New York influences the shoppes in the various upscale malls on the Strip. More importantly, New York and celebrity publicity doomed illegal gambling centers and drove tourists to Las Vegas in the 1950s:

Along with their connections in Hollywood and New York City, these interests in Las Vegas were able to use publicity provided by these media capitals to steer the rapid growth of tourism into Las Vegas thereby dooming Galveston, TexasHot Springs, Arkansas; and other illegal gaming centers around the nation.[20] Nevada's legal gaming as well as the paradoxical increased scrutiny by local and federal law enforcement in these other locales during the 1950s made their demise inevitable.

But now, New York has become the weakest link to Las Vegas recovery. One of the first Covid-19 case here was thought to be a New Yorker.

New York has a problem with the virus because of density. Percentage-wise, there are fewer single-family houses there than in most cities. Multifamily residences dominate the landscape. And New Yorkers use public transportation on a massive scale.

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Disclosure: I have no financial interest in any companies or industries mentioned. I am not an investment counselor nor am I an attorney so my views are not to be considered investment ...

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Gary Anderson 3 months ago Author's comment

Update 5: Shelter in place orders from the governor of Nevada have darkened the Strip since this article was written. Air travel and NYC's illness rate still pose big problems for Las Vegas in the near future.

Gary Anderson 4 months ago Author's comment

Update 4: #notdying4wallstreet Roubini believes that the lockdown should continue a couple of months to squash the virus. A bigger aid package. We know Wall Street cannot dictate the solution. If it makes a mistake Roubini says the virus could explode making it far worse.

Backyard Hiker 4 months ago Member's comment

Are MONTHS really necessary?

Gary Anderson 4 months ago Author's comment

They were in China. The problem with this disease is it is spread by healthy people and we aren't even testing healthy people. Think about it.

Gary Anderson 4 months ago Author's comment

Update 3: This pretty much sums it up: #notwillingtodieforWallAtreet Shame on you Scott Wapner.

Gary Anderson 4 months ago Author's comment

Update 2: Donald Trump wants to reopen American business in two weeks. But he would be foolish to do so until NYC and three or fout other hotspots are controlled.

Gary Anderson 4 months ago Author's comment

Update 1: Congress is failing the American people. The cash sent to mainstreet should be separated out and sent immediately. The slush fund for big biz should be accessible only to those who prove they use the money to pay salaries with it. Clawback requirements for noncompliance should be fierce and punitive.