Market Update
Las Vegas Real Estate Market Update – March 2020
March 12, 2020
Las Vegas Shutdown
Las Vegas Boulevard Drive Thru During the Shutdown
March 27, 2020

How the Coronavirus is affecting Las Vegas

Coronavirus in Las Vegas

How the Coronavirus (COVID 19) is affecting Las Vegas

 

The coronavirus outbreak continues to cause closures and changes to business conferences, shows, sporting events and other gatherings in the Las Vegas area. The “Las Vegas Strip” has been hit hard by show’s pulling out. Virus’ effects are now becoming visible.

 

Mandalay Bay has confirmed that three more of its restaurants will close temporarily after service Sunday, following the news Tuesday that the resort’s parent company, MGM Resorts International, will close seven of its Las Vegas Strip buffets effective Sunday.

 

MGM Resorts International told employees Friday night that significant furloughs and layoffs will begin at properties effective next week and that 150 food and beverage outlets will be closed.

 

Also, beginning this weekend Wynn Resorts will be temporarily cancelling all large entertainment gatherings. So, no buffets, no nightclubs, and no theater performances.

 

Hundreds of conferences, concerts and other events worldwide have been cancelled, postponed or transformed into “digital-only” affairs as coronavirus continues its global spread. To date, more than 20.9 million attendees have been forced to change their plans.

 

Those cancellations have spread far and wide, including everything from the City of Austin’s cancellation of South by Southwest last week to the announcement that Coachella — a long staple of the music festival circuit — would be postponed until October.

 

UNLV has now gone to on-line classes starting after their Spring Break on March 23rd.

 

Clark County is not planning to close schools because of the Coronavirus fear – yet that is. However, 2 Summerlin private schools; Alexander Dawson School and the Meadows school have temporarily closed down.

 

CCSD suspends all athletic events, assemblies, and extra-curricular events until further notice.

 

Governor Steve Sisolak on Thursday, has declared a state of emergency to deal with the ongoing coronavirus outbreak in Nevada. This declaration will allow Nevada to tap more easily into its emergency management resources as it deals with our rapidly developing situation.

 

The Southern Nevada Health District on Friday announce 8 new positive cased of COVID-19, doubling in one day the number of cases of the new coronavirus in Clark County to 16. There are now currently 20 known cases in Nevada.

 

CONVENTIONS AND MEETINGS CANCELLED OR POSTPONED

At least 17 conferences, which have brought an estimated 290,000+ visitors to town, have been cancelled or postponed.

 

Here is what has been cancelled/postponed in Las Vegas so far:

  • The International Pizza Expo will not be taking place this month at the Las Vegas Convention Center and has been postponed until June.
  • Engineering company Aruba Networks will not host the upcoming conference March 23-27. The company announced it will take place via video, streaming and small local events, “rather than an in-person event in Las Vegas,” according to a post on the show’s website.
  • Channel Partners Conference & Expo has postponed, “with the intention to announce a new date shortly,” It was previously scheduled for March 9- 12 at The Venetian and Sands Expo.
  • Security industry conference ISC West at the Sands Expo and Convention Center has been pushed back until July. The trade show was scheduled for March 17-20.
  • The 2020 Veterans Stand Down scheduled for March 25 has been postponed. Organizers hope to reschedule the event.
  • Software company Adobe said it will not host its upcoming Adobe Summit at The Venetian this month, citing the spread of coronavirus. The annual summit, taking place March 29 through April 2, was expected to bring about 22,000 guests to the Las Vegas Strip, but it will now be held online.
  • CinemaCon, a four-day convention scheduled for March 30-April 2 at Caesars Palace was called off. Around 5,000 attendees from 80 countries were expected at what would have been the conference’s 10th anniversary.
  • IWCE (International Wireless Communications Expo) 2020 has been postponed, according to a statement out March 9, adding the “intention is to announce a new date shortly.” The expo had been scheduled for March 30-April 3 at the Las Vegas Convention Center.
  • Atlassian Summit 2020, scheduled to be in a person conference starting March 31, has been canceled. It has turned into a remote event April 1-2.
  • The National Association of Broadcasters(NAB) announced it is canceling its upcoming trade show, expected to take place April 18-22.
  • Oracle NetSuite is postponing SuiteWorld20, until August 10 – 13, 2020, according to a statement on the website. The conference had been scheduled for April 20 – 23 at the The Venetian Resort and the Sands Expo Convention Center.

 

SPORTS UPDATES

  • UNLV and UNR announced that their spring sports events will take place without the presence of spectators because of the growing concern of coronavirus.
  • The 2020 NFL draft, which is expected to be one of the largest events Las Vegas has ever seen, is still a go despite ongoing coronavirus concerns. The NFL is monitoring developments closely, said a spokesman. 
  • The Las Vegas Polo Classic is being moved from April 18-19 to July 16-18. The new site will be South Point Arena.
  • The Pac-12 men’s basketball tournament at T-Mobile Arena has been cancelled.
  • The Western Athletic Conference has canceled the rest of its tournaments.
  • The NBA has suspended its season after a player preliminarily tested positive for coronavirus, stunning fans and players who heard the plan.
  • The NHL is suspending its season indefinitely.
  • Las Vegas Aviators president says baseball has been postponed
  • The PGA Tour plans to keep playing, just without anyone watching from outside the ropes.

 

OTHER NEWS COUNTRY WIDE

  • Congress is shutting the Capitol down to the public until April in reaction to the spread of the coronavirus.
  • Princess Cruises, which had one of its ships quarantined off the coast of Japan last month, is suspending global operations through early May because of the coronavirus pandemic.
  • President Donald Trump announced he is cutting off travel from Europe to the U.S. and moving to ease the economic cost of a viral pandemic that is roiling global financial markets and disrupting the daily lives of Americans.
  • Walt Disney Company is closing their them parks around the world
  • On Friday President Trump declared the Coronavirus pandemic a national emergency in order to free up more money and resources.

 

The World Health Organization declared last Wednesday, that the global coronavirus crisis is now a “pandemic” but also said it’s not too late for countries to act.

 

The virus has spread to more than 110 other countries and regions, with Italy, Iran and South Korea reporting the most cases outside China.

 

About 80 percent of documented cases have been fairly mild, but the virus can result in pneumonia and has caused more than 4,700 deaths.

 

There have been 36 deaths from COVID-19 reported in the United States, 30 of them in Washington state. Other states reporting deaths were California (4); Florida (2); New Jersey; South Dakota (1).

 

Evidence suggests that it primarily spreads much as the flu does — through droplets from a sneeze or a cough, or by touching an infected surface. Tests by the U.S. government and outside scientists published Wednesday showed the virus can live on surfaces for up to three days.

 

The CDC lists three symptoms for COVID-19: Fever, cough and shortness of breath. It says symptoms may appear two to 14 days after exposure.

 

Subscribe to our YouTube Channel: http://bit.ly/YouTubeAOHare

 

Moving to Las Vegas – Top 5 Reasons to Move to Las Vegas

 

Angela O’Hare, Realtor
The O’Hare Team
Home Realty Center
License #180246
702-370-5112
[email protected]
www.neighborhoodsinlasvegas.com