Page 54 - https://downmagaz.net

welcome them back to a safe and entertaining

environment,” state Gaming Control Board chief

Sandra Douglass Morgan said Wednesday.

The regulatory board required detailed health

safety plans from resort owners by last week,

before giving the go-ahead to reopen.

Feldman said he thinks it will take a long time for

the sector to recover.

“This is going to be a pretty long, slow climb,”

said Feldman, who was with MGM Resorts when

Las Vegas experienced an abrupt air travel stop

after the Sept. 11, 2001, terror attacks, and later

a crippling plunge in business during the Great

Recession over a decade ago. “I’m hopeful it is a

consistent climb, without setbacks.”

Recovery from the recession took years —

reaching best-ever numbers last January and

February, when taxable casino winnings were at

$1 billion each month and unemployment was

at an all-time low of 3.6%.

By April, unemployment reached 28.2%, topping

figures in any state even during the Great

Depression. Casino winnings were near zero.

The biggest casino operators, MGM Resorts and

Caesars Entertainment, won’t immediately open

all their Strip properties. Executives said they

want to see how many people show up.

The first to arrive were expected to be area

residents, then motorists from nearby U.S. states

followed by air travelers.

“The market still relies heavily on air traffic, and

the longer stays in Vegas are usually tied to

mass social gatherings, including conventions ...

concerts and fights, all of which may take longer

to recover,” UBS analyst Robin Farley said.

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