The year 2024 has seen a series of major fines imposed on several casinos in Las Vegas due to compliance issues. The Nevada Gaming Commission has intensified its oversight, ensuring that all gaming establishments adhere to the stringent gambling regulations set forth by the state. These regulatory actions aim to maintain the integrity of the gaming industry and protect both operators and patrons.
All told, Nevada regulators say Nicole Bowyer made over $667,000 directly from her husband’s gambling at RWLV. MGM Resorts International and its most-recently acquired casino property, The Cosmopolitan of Las Vegas, paid $7.45 million as a result of the Sibella incident. According to authorities, Sibella knew about Wayne Nix, a now-convicted bookmaker, and allowed him to gamble at MGM properties. In August, state gaming regulators filed a complaint against RWLV, alleging that the property was a haven for criminal misconduct dating back to its 2021 opening. In May, Sibella was sentenced after pleading guilty to a single count of failing to file required anti-money laundering compliance reports while president of MGM Grand. Shortly after, Sibella took the head job at the yet-to-be-operational Resorts World Las Vegas property, shepherding the casino-hotel through its June 2021 opening.
- The empty 27-acre lot where the amusement park once stood is a sore subject for many city residents.
- For several years, would-be developers have talked about new construction projects at the site.
- To address the tourism decline, the LVCVA is launching the first-ever VegasWide Sale featuring dozens of deals on hotels, shows and attractions from Sept. 22 through 26.
- The cyberattacks resulted in Caesars Entertainment losing sensitive customer data, according to financial filings, and MGM Resorts International properties experienced significant operational disruptions.
Confirmed layoffs started taking place last summer, with the off-Strip Rio casino acknowledging labor reductions in August. Three months later, Venetian and Palazzo casinos confirmed they had parted ways with less than 50 employees, mostly management and supervisory-level workers. What is known is that several factors are driving the cuts, with macroeconomic conditions and evolving consumer behaviors at the top of the list.
Federal Government Shutdown Could Further Strain Las Vegas Tourism
Celine Dion, Carrie Underwood, Katy Perry, Luke Bryan, Tiësto and Zedd are all featured in its “Stay Fabulous” campaign. Rideshares are limited as many drivers stopped last year and haven’t returned in full force. As of a couple of weeks ago, only 50% of rideshare requests were being fulfilled. There’s also a shortage of rental cars as more people are flying in than at any time in the past year. Pre-booked car services can be a bit expensive but that’s one way to beat the traffic at McCarron Airport. According to the WARN Act, no large business may lay off 50 or more employees at a single site during a 30-day period without 60 days’ written notice to the affected employees, their union representatives, and state/local government officials.
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There are still rumors that Bally’s Las Vegas (the Caesars casino) could be rebranded, sold, and/or both. Caesars CEO, Tom Reeg, says the company doesn’t plan on selling a property this year. MGM Resorts kept some to sell special weekend packages with hotel rooms and more. Others are looking at next year, especially around the time of when Las Vegas hosts the 2022 NFL Draft. Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University, said casinos ultimately follow customer demand when making floor decisions. “All of this would encourage casinos to re-examine their staffing levels and make strategic cuts now in order to prevent more widespread layoffs in the future,” she said.
Station Casinos Reopening Poker Room Near Vegas
But the casino agreed to make changes to its leadership and implement stricter protocols for preventing money laundering, the newspaper reported. The Las Vegas Valley is ecologically part of the Mojave Desert, whose characteristic plant is the Joshua tree. The smallest of the North American deserts, vegas casino app the Mojave supports significant human settlement only in the Las Vegas area and at a few points along the Colorado River. More than four-fifths of the city’s water supply comes from the Colorado River at Lake Mead. As more water has been removed from these aquifers, the sandy soils have subsided, leading to fissuring and structural damage of the surface and the formation of large sinkholes.
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Both of these upgrades can be considered as improvements for guests but they should also lead the casino operators to greener pastures. An MGM spokesperson said there is no company-wide reduction in workforce and that hours are always based on demand and season, like any business in the hospitality sector. Beyond the decline in national and international travelers, workers point to high Strip prices as a barrier for tourists and locals alike.
Adding high-limit slot rooms is so important that it’s the main feature of the current expansion of Durango Casino. The property will be adding 120 more high-limit slots in a casino that already has a room dedicated to these games. Numerous corporations have been making these two changes over the past couple of years on the casino floor and in the hotel rooms throughout the Las Vegas Valley. There’s no end in sight to how much longer these two areas will be the focus of Las Vegas casino operators.
Not too long ago, Scott Sibella was a rising star in the Las Vegas casino industry. The one-time president of the MGM Grand casino-hotel once appeared on a hit television show as an undercover executive, giving millions of viewers a behind-the-scenes look at casinos and endearing the industry to the public at-large. The influx of new casinos has attracted significant investment in infrastructure to support the growing needs of the gaming and hospitality sectors. This includes upgrades to transportation systems, enhanced accommodations, and expanded entertainment venues. Such developments ensure that Las Vegas remains a top destination for both domestic and international tourists.
- Frequent snapshots of America’s top gambling hub, with news about the latest casinos and hotels to open, those that have shuttered, those that are renovating, and those that are expanding their footprints.
- The valley fans out eastward from the picturesque, pine-clad Spring Mountains, whose highest point, Charleston Peak, rises above 11,910 feet (3,630 meters).
- Visitors will notice fewer of the traditional slower-playing reel slot machines in the newest high-limit slot rooms.
Nearly every major tourism indicator — except gross gaming win — was down for the month of August, continuing a trend that began earlier this summer. The $6.3 billion dual acquisition of IGT and Everi all but solidifies Apollo as one of the largest and most influential players in the gaming industry. Apollo is the current casino-hotel operator of The Venetian and The Palazzo on the Strip, and it now controls a market-leading digital system and game manufacturer. Online sports gambling is legal in 33 states and Washington, D.C., putting digital gambling in the hands of more than one-third of Americans.
All feared the downturn — which the author attributed to economic uncertainty, rising costs, and geopolitical tension — would not be short-lived. The “less than 50” in the property’s statement is notable not only for its incorrect grammar, but because of compliance with the WARN (Worker Adjustment and Retraining Notification) Act. This federal law, enacted in 1988, protects workers by requiring advance notice of significant layoffs, giving them time to prepare for the transition. Similar to the high-limit slot room upgrades, room renovations aren’t only for Vegas Strip properties.
In 2024, the market trends in Las Vegas indicate a strong focus on enhancing gaming revenue through innovative technologies and customer-centric services. Casino resorts are diversifying their offerings to include more than traditional gaming, with a push towards integrated resort experiences that combine luxury, entertainment, and cutting-edge technology. For the latest Las Vegas casino and gaming industry news and headlines visit reviewjournal.com. “Bally’s Las Vegas represents a once-in-a-generation opportunity to redefine the heart of the Strip,” said Soo Kim, Chairman of the Board of Directors, Bally’s Corporation. Resorts World announced a partnership with cryptocurrency exchange and custodian Gemini. The goal is for the property to be the most crypto-friendly casino on the Vegas strip.
Once derided as a cultural backwater, Las Vegas has evolved into an economic power that outstrips the output of whole countries. It is one of the country’s leading vacation destinations, drawing far more tourists than the Grand Canyon or Yellowstone National Park. During its first-quarter earnings call, Red Rock Resorts dropped a hint of what the company is planning after Palms is sold. A plot of land off the Vegas Strip on Durango Drive appears to be a standout location. The latest and greatest Las Vegas news this May includes cryptocurrency on the Vegas Strip, new residencies and booming casino sales.
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Owens, who has lived in the valley for eight years, said this isn’t her first extended period without work. The Las Vegas Convention and Visitors Authority reported tourism was down 12% year-over-year in July, marking the seventh consecutive month of declining visitation. The downturn is creating a ripple effect for workers who depend on tourist volume for their livelihoods. The NGCB complaint filed against Resorts World Las Vegas in August also alleges that another since-convicted illegal bookmaker named Mathew Bowyer gambled with impunity at the property. Two other individuals with ties to illicit gambling activities were also named in the complaint. In November, the second Formula One Las Vegas Grand Prix took over the Strip, transforming the heavily traveled corridor into a high-speed racetrack.
Wynn/Encore, Cosmopolitan and Stratosphere are the first three casinos that can allow 100% capacity on the gaming floor in Las Vegas. All Caesars, MGM Resorts, Boyd Gaming and Station Casinos properties were also allowed 100% capacity shortly thereafter. This is due to the fact that 80% of their respective employees are vaccinated for COVID-19.
The new hotel-casino has been dropping lots of details about what visitors will find when it opens. Entertainment will be a huge attraction to Resorts World given its Theater by AEG. Dates haven’t been announced for artist residencies but there will be plenty at after it opens.
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This summer Station Casinos is set to renovate all of the hotel rooms at Green Valley Ranch. Not coincidentally, this off-strip casino already upgraded its high-limit rooms. Corporations have a responsibility to shareholders to increase revenue and profits. One relatively easy way for Las Vegas casino hotel operators to boost profit is to offer new rooms. In late 2023, The Palazzo opened a beautiful new high-limit slot and table game lounge.
The space also offers bartop gaming…and the ability to play two slots at the same time. Enter LVXP, an ambitious project that promises to feature the city’s tallest building and an NBA-ready arena. The 752-foot, 2,605-unit hotel and condominium project with an 18,000-seat NBA-ready arena on the north Strip received approval from Clark County officials earlier this month.
Visitor volumes, particularly among international travelers, have softened in recent months, adding pressure. Technology is also playing a role, as automation and digital services reduce the need for certain in-person roles. And because many Las Vegas casinos are owned by publicly traded companies, there is a constant push to meet profitability targets and deliver returns to shareholders. Reports of layoffs at various Las Vegas casinos have been popping up for several months now, raising questions about whether the gaming industry is nearing an end to the post-COVID economic boom. The resort corridor’s gambling returns have been trending downward in the final months of the year, even as Nevada’s overall gaming revenue climbs upward. Beginning in July, the Strip posted three consecutive months of declining year-over-year revenue, the first time that has happened on the Strip since the start of the pandemic closures (March 2019 through May 2019).
