Las Vegas Resorts Scramble for New Strategies Amid 4th Straight Month of No Conventions
Skift Take
Las Vegas casino resorts are seeking creative alternative revenue streams while convention travel is bottomed out, but it's highly unlikely anything will match the dollars associated with a mammoth, multi-day event.
Sin City in July entered its fourth month without any convention business due to the global pandemic, and a revival of the large events sector is likely months away.
The 1.4 million visitors to Las Vegas in July was up from the 1.1 million seen in June, but convention travel continues to be nonexistent, according to the Las Vegas Convention and Visitors Authority. There were 3.7 million total visitors and roughly 500,000 convention goers to Las Vegas in July of last year.
Las Vegas companies like MGM Resorts International in late summer began pursuing alternative uses for their hotels, like their work-from-home (or hotel) potential, to recoup some of the convention losses.
A casino-to-coworking shift may seem like a head-scratcher, but analysts and executives increasingly see the merit to the strategy as a worthy stopgap until events like the Consumer Electronics
