![]() Neither Las Vegas Sands nor Wynn Resorts executives mentioned mask mandates as having any effect on Nevada business trends during their quarterly company earnings conference calls. Unfortunately, those customers are not currently that strong.” With the exception of New York, their main customer focus has been on international markets. “While the leadership team is not new to Las Vegas, the Resorts World brand is new, and they are still trying to introduce themselves to Las Vegas guests. “In comparison to its peers, (Resorts World) is well behind more established brands in terms of occupancy and revenue, both gaming and non-gaming,” Bussmann said. “The initial numbers for the opening of a new property shows the challenges of introducing a new brand on the Strip,” Brendan Bussmann, a partner and consultant with Las Vegas-based Global Market Advisors said.Īs a comparison, the two Strip resorts operated by Las Vegas Sands during the third quarter reported net revenues of $399 million, cash flow of $132 million and hotel occupancy of 96.9 percent covering some 7,000 rooms and suites.Īt Wynn Resorts’ two Strip properties, which account for more than 4,700 rooms, third quarter revenues were $476 million, cash flow was $183.4 million and total hotel occupancy was 83 percent. Through a public relations firm, Resorts World officials declined to comment on the third-quarter results, though outside analysts said initial struggles were expected for a new Strip property. Additional retail, restaurants and The Theatre at Resort World are expected to open in the fourth quarter. Meanwhile, Genting said Zouk Nightclub, a spa, and additional retail outlets and restaurants all opened at Resorts World during the third quarter. Genting added that several conventions at Resorts World were cancelled “as a result of the (mask) mandate.” “(Resort World Las Vegas) results in the current quarter were impacted by the State of Nevada’s mandate requiring face masks while in public indoor spaces regardless of vaccination status on July 30,” the company said in a statement.
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