consultancy work has declined since few are traveling except when necessary. The silver lining is that Hayley now has a new Account Executive position with Peloton home gym equipment, a much larger company. The bigger question is how representative are they of

young families in Las Vegas and throughout Nevada? They rent their house and can work from anywhere, so why should they stay? (For the record, my family would love them to move back East.) I wonder if that question is under discussion, not only

their local markets of younger customers. The key senior customer group is staying away out of fear of illness. Fortunately, Las Vegas Sands Corp.’s (LVS) Venetian

and Palazzo will continue all employees’ pay and benefits through at least October 31. Of Nevada’s top six, LVS is the only operator without any furloughs or layoffs. LVS Chairman/CEO Sheldon Adelson’s phenomenal

success resulted from his early concentration on conventions over gaming. He focused on attracting millions to Las Vegas, especially on quieter week days, to trade shows/conferences. Building resorts to accommodate millions of visitors meant billions in economic hospitality benefits. So, what happens without convention visitors over the

short term? We know about G2E’s cancelation, but the giant CES technology conference for January is also canceled. As one of the world’s largest conferences, CES attendee numbers totaled more than 170,000 last January. More cancelations will mean greater losses. We’ve seen downturns before, but this feels different. I’m a half-full person, but I worry about the repercussions from a lack of opportunity for younger industry members. Anyone associated with large group leisure activities has suffered lost business. That scenario has hit my own family. My niece Hayley,

her husband Sean and new baby girl Sage live in Las Vegas, where life has already changed. She was a fitness organization executive and he is a hospitality technology consultant. With gyms closed, her company hit hard times. Hayley saw the proverbial handwriting on the wall. His

     

in Nevada, but in other jurisdictions so dependent on gaming. Growth depends on the young, so gaming must do everything it can to support opportunities for the next generation. Time will tell as experts warn that recoveries for gaming may take 18 to 36 months. We have to take our good days where we can and

technology is providing good news. Wherever there is legal online and/or sports betting, operators are salvaging profits. Currently, 18 states, plus Washington D.C., offer legal, regulated sports betting. Four more states may soon come online. Looking back, my former New Jersey Governor Chris Christie rightly stood firm as his coalition battled to legalize sports betting. A weaker person would have surrendered, leaving many jurisdictions to now face catastrophe. As leisure dollars shrink in 2020, the public wants

integrity. New American Gaming Association (AGA) research reveals consumers favor regulated options over illegal bookies. Average spending with illegal bookies fell 25 percent in legal sports betting states in 2019. Legal online and mobile betting increased 12 percent. Legal wagers in the US totaled more than $22 since the 2018 Supreme Court PASPA decision. The three compelling reasons were confidence of

payment, an awareness of legal options and the desire for regulated books. More education is necessary since 55% of consumers on illegal sites believed they were betting legally. 2020 was to become a record-breaking sports betting

year, already at $3.5 billion legally wagered in January and February, an increase of $1.6 billion from early 2019. Can we return to those glory days? Ultimately, yes, if we look at that glass as half full.

12 AUGUST 2020


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50