Wynn Resorts Prepping for Conventions, Entertainment and Events
CEO of Wynn Resorts, Matt Maddox, has provided insight into how the casino operator plans to bring back conventions and other entertainment.
In Nevada, casinos have been up and running since June, after shutting down in March due to the onset of COVID-19. Once casinos were back in business, they could only offer certain services and have a low capacity. This has led to lower revenues of course and a lack of tourism. Operators are now trying to figure out how to start offering even more services and bring players in. Wynn Resorts CEO Matt Maddox recently wrote an opinion piece that provides details on how the company plans to bring back such options as conventions and concerts. Such plans include creating an on-site test facility.
Wynn Resorts Plans
In the piece by Maddox, which was published by The Nevada Independent, information was provided based on research by the company. Potential visitors to the state, particularly Las Vegas, are not staying away due to actions of the casinos. They are not visiting because they fear coming in contact with someone who has the virus.
For Wynn Resorts, they see this fear and want to do something to alleviate it. To accomplish this, they have been working on rapid COVID-19 testing. The Wynn Las Vegas and the University Medical Center of Southern Nevada have teamed up to build a special medical lab at the resort that will be used specifically for COVID-19 tests.
The new lab will be able to process thousands of tests each day. They will also be able to produce same-day results. The lab can provide testing for employees as well as guests of the facilities. According to Maddox, the lab will use PCR technology which is FDA approved to provide accurate testing.
With testing, employees will know if they have the virus or no on every workday while guests can test before attending major events or conventions. The goal is to provide accurate testing so that people feel more secure when it comes to traveling to the region. The testing lab should provide results within hours to those tested via a free mobile application.
Trying to Rebound
The economy in Nevada relies heavily on the tourism industry. Las Vegas is the largest city in the state, and they continue to struggle due to the COVID-19 pandemic. Visitor volume is low and poor turnouts are seen month after month.
In August, only 1.5 million people came to Las Vegas. This is a decrease of 57% year over year. Gross gaming revenues came in at just over $317 million in August on the Strip, which is over 25% less than what was earned in August last year.
One big problem is the loss of conventions. Groups are not allowed to meet in the state due to COVID-19 restrictions. Usually, the city is filled with conventions and these events bring in a large number of tourists. The lack of conventions should change soon, as just this week, Governor Steve Sisolak announced large venues can now offer events.
Venues that can hold over 2,500 people can operate at 10% capacity indoors. Smaller venues must allow lower numbers in groups, with 250 people or less.
Maddox feels that it will take more than the government to get Las Vegas back on its feet. The CEO is calling for community leaders to provide science-based options that can be used to advance goals to ‘reignite our city’.
It will be interesting to see how Wynn Resorts implements the new changes including the testing lab at the Wynn Las Vegas. It might be just what the city needs to begin to see travelers coming to the region once again to enjoy a variety of entertainment options, including conventions.