The increased demand for Las Vegas resort offerings was cited as the key driver of MGM Resorts International’s 24/7 resumption of operations at three of its resort properties.
Those in question are Mandalay Bay, Park MGM and The Mirage, with the change coming as Nevada casinos begin to relax restrictions as part of the most recent steps of the ‘Road to Recovery’ plan of Governor Steve Sisolak.
Live entertainment shows
The company has also indicated that many of its live entertainment shows would return to the stage in the not too distant future, in the face of an increase in interest in traveling to the area.
Previously, due to COVID-19, each property had introduced selective mid-week closures associated with reduced business volumes.
Decrease in Las Vegas revenue
Earlier in the month, despite retaining confidence in the recovery of both Las Vegas and Macau, it said that during Q4 2020, pandemic and associated operational constraints, as well as midweek hotel closures at the aforementioned trio of venues, were the key drivers of its Las Vegas revenue decreasing 66 percent to $ 479.7 million (2019: $ 1.42 billion).
Total group revenue fell 53 percent year-on-year to $1.49 million for the quarter (2019: $3.18 million), driven by lower market volume and travel operation due to COVID-19, hotel and other closures at some properties, travel restrictions to resorts in Macau, and continuing operating restrictions.
Bill Hornbuckle, MGM Resorts CEO and president said: “As we begin to see positive signs around the public’s sentiment about traveling, coupled with important progress on the vaccination front and decreasing COVID-19 case numbers, bringing Mandalay Bay, Park MGM and The Mirage back to full-week operations is an important step for us.
“We remain optimistic about Las Vegas’ recovery and our ability to bring employees back to work as business volumes allow us to do so.”
This week, Nevada casinos are permitted to raise capacity to 100 people or 35 percent of fire code capacity, whichever is less, along with a number of other facilities that include food and beverage outlets, places of worship, gyms, arcades, bowling alleys and similar activities.
In addition to an increase in capacity of 10 percent, organisations are now allowed to start submitting plans for large-scale meetings, but no such events will resume until 1 March and have only been approved by the appropriate local health and state authorities.
The next date for Nevadan diaries is Monday 15 March, after this relaxation, when a 50 percent capacity limit or 250 participants, whichever is less, comes into force under strict social constraints.