LAS VEGAS, NV: LV Sands announced a whopping $1 billion loss for second quarter 2020. Conventions aren't expected to return to Las Vegas in 2020 so Wynn, MGM, & Caesars should see similar results. Nearly 1/2 the casinos in Vegas remain closed. The few casinos that are operating report record low occupancy rates of less than 25%. Twitter Blogger Las Vegas Locally wrote that Wynn sees occupancy in the teens.
What happened? Simple robbery.
The Great Palms Casino Caper of 2019
That's a billion dollars stolen from Las Vegas.
MGM, Jim Murren, Steve Sisolak & Stephen Paddock
Jedi will probably never be able to prove the connection, however, Steve Sisolak provided Jim Murren material inside information regarding the State's plan to shut down Nevada on March 17th 2020.
There's another billion dollars that was stolen out of Las Vegas.
The Venetian Bought Las Vegas' Only Newspaper
What do casino operations & honest journalism have in common? Nothing, Except Sheldon Adelson.
You don't hear Stephen Paddock's name very often from Las Vegas blogger or local media because there is a general rule in Vegas: do not report any bad news that could affect tourism. To make sure of that, Sheldon Adelson & the Adelson family purchased the Las Vegas Review-Journal in 2015,. This is straight out of Citizen Kane. Sheldon has Trump in his back pocket. Sheldon is Trump's largest donor.
Its convoluted and complicated. A full formal investigation would take years. The bottom line: Vegas has been sending fake news to Wall Street since Sheldon & his family secretly bought the paper. The local media and bloggers simply repeat what the Review Journal writes.
How many billions were stolen from Vegas by creating a fake "Best of Vegas" news article?
The Final Straw: Nearly $1 Billion Tax Burden to Hotel Casinos for the Raiders Stadium
You can voice your opinions on a publicly funded civic stadium to be paid for by tourists but from a cosmic, karma point of view-- Sisolak, Murren, Adelson, and the others done gone too far ripping off consumers. The stadium was rejected by voters. A new deal was promoted through the Las Vegas Review journal convnced local voters to tax tourists to pay for nearly 1/2 of a civic stadium. Does that seem right? Making visitors form Green Bay pay for the Raider Nation Stadium? If it were the other way around, anyone in the Raider Nation would have a shit cow.
There you go: 4 examples off the top of my head from just reading twitter shows nearly $4 billion of tourists profit gone. As the CEO of a small convince store, I can tell you that losing one candy bar means you'll have to sell at least 5 before you break even.
How many candy bars will Vegas need to sell before it breaks even?