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Las Vegas casinos hope that CES will trigger an economic boom

Date posted: May 1, 2021, 03:25 am

Last Updated: May 1, 2021, 05:14 h.

Larry Henry

The return of CES to Las Vegas early next year gives casino officials hope that the southern Nevada economy is booming.

CES
Crowds gather at the pre-pandemic CES event in Las Vegas. The popular fair will return to southern Nevada next year. (Picture: Forbes )

The four-day CES show will start on January 5, 2022, according to Las Vegas Review-Journal . After four decades in Las Vegas, the event was held practically earlier this year due to the COVID - 19 restriction.

Next year, the online option will be available to those who do not wish to attend in person.

The Arlington, Va. The fairs held as part of the Consumer Technology Association were previously known as the "Consumer Electronics Show". On its website, the CTA encourages people not to call it this old name.

Chandra Allison, senior vice president of sales at Venetian Resort, told the newspaper that organizing events and meetings, such as CES's return to southern Nevada, is "most important to the city's economy."

The 2020 show attracted 180,000 visitors to Las Vegas, the newspaper said.

Since the March 2020 outbreak of the coronavirus pandemic, no major conventions have taken place in the city. Conventions are seen as essential for populating the huge hotel towers in the Las Vegas Valley, especially on the slow days of the week.

Over the past year, several major resorts along the Las Vegas Strip have temporarily closed their hotel rooms in the middle of the week due to low demand.

Looking for Conventioneers

On Saturday, the Las Vegas casino floors started operating at 80 percent capacity versus 50 percent. The social distance requirement has been reduced from six feet to three feet.

This week, in a phone call about earnings, Corey Sanders, CEO of MGM Resorts International, pointed out that hotel rooms could fill up again when people felt comfortable with loose distancing rules, according to the newspaper. During the conversation, he mentioned a CES event.

I think there is a slim chance early 2022, we can start to see 90 percent busy, ”said Sanders.

Since 1999, Las Vegas resorts generated more revenue from conventions and hotel amenities than from gambling, according to Wall Street Journal .

This economic change is visible in the way the region is promoted. The Las Vegas Convention and Visitors Authority recently unveiled a TV commercial showing no recordings of the floor of the casinos or any gaming tables or machines.

Tourism officials also advertise the $ 987. The 1 million expansion of West Hall at the Las Vegas Convention Center and the underground human movement developed by The Boring Elon Musk Co. Both are to speak to the clergy.

"Additional amenity"

In an interview with Casino.org , the eminent screenwriter noted that the departure from Las Vegas' long-standing status as a desert gambling establishment was due to an "entirely different economy of scale".

Nicholas Pileggi said the shift began in 1980, when publicly traded corporations began to build 3,000 - megarezorts of peace. At these luxury resorts, gambling "is an added convenience," he said.

Pileggi, who co-wrote the 1995 film Las Vegas Mafia Casino with director Martin Scorsese, said casino companies learned that the new model was more lucrative. This model involves attracting conventioniers.

"You can make a lot more money with this kind of audience than you can with three hundred guys betting yellow chips at the craps table," said Pileggi Casino.org .

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