Rio Las Vegas Expected to Reopen in 2020
Before the year is over we could finally see all Caesars Entertainment resorts open in Las Vegas. The last remaining property, Rio, could open as soon as the end of the year it was revealed in in earnings call last week.
“We opened Cromwell last week. I’d expect to see Rio open before the end of the year,” Caesars Entertainment Inc. CEO Tom Reeg said during that call Thursday.
The Rio closed in March of this year, when the state called for all nonessential businesses including casinos to shut down because of the COVID-19 pandemic. The state of Nevada allowed casinos to reopen on June 4 at 50% capacity with social distancing in place and mandatory masks.
Caesars doesn’t plan to mimic other hotel-casinos on the Strip and shut down properties during the week to cut costs, Reeg said. “What I will tell you today is when we get into a post-COVID world, the pent-up demand you’re going to see for gaming in general and Las Vegas in particular is going to be beyond your wildest dreams,” Reeg told investors. He added that customers 55 and older who may feel uncomfortable visiting a casino now, could be more willing to do so once a COVID-19 vaccine is widely available.
During the call it was also revealed that occupancy in Las Vegas was “just under 60%” for the third quarter. Caesars is now running mid-50s occupancy for the week and 90s for the weekends.
For those visiting from out of state, Caesars began charging for parking Oct. 30 at its reopened properties (Caesars Palace, Paris Las Vegas, Bally’s, Flamingo, The Linq Hotel and Harrah’s). Nevada residents with valid identification, hotel guests and Caesars Reward loyalty members at platinum rating and above still get free parking. Self-parking at Miracle Mile Shops and Planet Hollywood remains free to all guests.
HT: Eater Las Vegas
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