Las Vegas is looking towards a major transition over the next few years, culminating in 2020 with the opening of at least half-dozen major projects that will affect both The Strip and the city as a whole. The developments include approximately 9,000 new hotel rooms, significant expansion of the Convention Centre, and a range of new entertainment venues.
This change has been in motion for several years. The biggest resorts anchoring Las Vegas tourism have recognised that gaming is unlikely to be the growth engine it once was for the city. This report will take a closer look at all the ways Las Vegas intends to grow as an entertainment capital, including through e-sports, professional sports and legalised wagering on games.
The difficulty in preparing for the Las Vegas of 2020 is that, while some effects of diversifying into more than gaming have precedent, there are so many variables in a market and an industry as mature as Vegas and gaming. As the city has learned, whether from a severe recession in 2008 or the mass shooting at Mandalay Bay in 2017, events outside anybody’s control can dampen demand for the Las Vegas experience and test a property’s mettle for operations, marketing and revenue management. So can new supply — plenty of which is on the way at The Strip.
This report released by Duetto, a hospitality technology company, tracks what’s in the pipeline for Las Vegas over the next few years and includes helpful examples of how the city has managed previous transformations. It also includes experts’ viewpoints on how the next few years will play out, and a crucial discussion of a casino Revenue Strategy that will help position properties to win.
Download the report here >> vegas-2020-report-compressed