Las Vegas Casinos try to analyze economic effect on best online casino singapore

 

 

 

Hotel occupancy rates were as low as 50 percent this past weekend at the Strip’s most successful megaresorts, as tens of thousands of guests stayed home after Tuesday’s terrorist attacks on the World Trade Center and Pentagon.

 

Fewer customers could be found at Bally’s, the Flamingo and Bellagio, among other well-known casinos, than on a typical Friday or Saturday night, when weekend occupancy rates typically run as high as 100 percent.

 

“We came into town, and the Strip wasn’t nearly as busy,” Los Angeles resident Joe Garcia said. “Normally it would take over an hour to drive from downtown to the end of the Strip, but last night it only took about 30 minutes.”

 

Revenues are expected to be down for several weeks in all aspects of megaresort operations, and casino industry bosses will have to consider a multimillion-dollar challenge to their bottom line.

 

The goal is to determine the amount of revenue and jobs that could be lost in Las Vegas if tens of thousands of tourists stay away from the city for an extended period of time.

 

The reality: No one knows.

 

The business declines left workers at the Strip’s largest properties voicing fears of layoffs. Top executives at MGM Mirage and Park Place Entertainment rejected such talk this past weekend, but MGM Mirage executives do expect to cut back standby workers called in each day, while sending many home early if they are not needed.

 

How long could the trouble last?

 

“Clearly, there’s going to be a short- to medium-term reduction in airline travel, both for tourism and business purposes,” said Peter Navarro, an associate professor of economics at the University of California, Irvine.

 

How long is short term? That could be three months to a …