A Las Vegas Strip casino is suspending its midweek operations indefinitely to account for the decrease in consumer demand.
Wynn Resorts announced Tuesday that it would beginning Monday, October 19, it would be closing its Encore Las Vegas casino starting every Monday at noon and reopen the property at 2 p.m. every Thursday. Wynn’s poker room, which is located in Encore, will be moved to the casino floor of the Wynn near the self-parking garage until 24/7 hours are restored.
According to the press release, the new schedule will remain intact “until consumer demand for Las Vegas increases.”
Nevada’s gross gaming revenue in the months since Gov. Steve Sisolak allowed casinos to reopen in early June shows that gaming operators are still struggling to return pre-coronavirus numbers. With tourism numbers for Las Vegas dropping, thanks in large part to the absence of midweek conventions, Strip casino operators posted a nearly 40 percent year-over-year revenue decline in September.
UNLV gaming historian David Schwartz told the local CBS affiliate that Wynn’s move is reasonable given the situation and that more casinos will likely use this business model until the market rebounds.
“With most conventions being on hiatus, we don’t have a lot of mid-week occupancy, so it makes sense to close hotels, or even the entire resort during the week,” said Schwartz. “If the current conditions continue, we could see more properties do this.”
Another Las Vegas Strip property, Planet Hollywood, implemented similar measures when it reopened last week. The Caesars-owned property will keep its casino floor open 24/7, but the hotel operations will only be available Thursday-Sunday.
Wynn Resorts’ CEO, Matt Maddox, penned a piece last week outlining a potential plan to bring large gatherings back to Sin City. If those gatherings return, it would lay the foundation for the Las Vegas gambling market to return to pre-lockdown levels.