>> FIVE, FOUR, THREE, TWO, ONE.
[ CHEERS ]
LIZ: VEGAS PUTTING ITS OWN
ROULETTE WHEEL SPIN ON NEW YORK
CITY’S NEW YEAR’S EVE BALL DROP.
LAST NIGHT AT MIDNIGHT, THE
HOTEL AND CASINO WAS AMONG A
GROUP OF RESORTS THAT FLUNG
THEIR DOORS BACK OPEN.
TOURISTS HAVE BEEN ANXIOUSLY
AWAITING THE AMERICAN GAMBLING
MECCA TO REOPEN AFTER BEING
SHUTTERED FOR TWO AND A HALF
MONTHS DUE TO THE CORONAVIRUS.
THE OWNER EVEN APPARENTLY SET UP
A RIBBON CUTTING WE ARE SHOWING
YOU RIGHT NOW ON THE CASINO
FLOOR SAYING QUOTE, I WAS THERE.
JUNE 4th REOPENING, LAST VEGAS.
THERE IT GOES.
I WAS THERE.
CLASSIC VEGAS, RIGHT?
AT 12:01 A.M., PEOPLE STREAMED
INTO THE CASINOS THAT WERE ABLE
TO REOPEN BUT YOU ALL SHOULD
KNOW IT WILL BE A MUCH DIFFERENT
VEGAS THAT THEY WILL FIND WHEN
THEY ARRIVE.
LAS VEGAS BLOGGER AND VITAL
VEGAS.COM FOUNDER SCOTT ROGEN
JOINS US NOW.
YOUR VOICE IS ONE THAT WALL
STREET ANALYSTS AND INVESTORS
LISTEN TO BECAUSE YOU HAVE YOUR
EAR TO THE GROUND WHEN IT COMES
TO VEGAS.
THANKS FOR JOINING US.
YOU WERE THERE LAST NIGHT.
FIRST DESCRIBE THE SCENE.
>> YES, WELL, THE VIDEO KIND OF
SHOWS THE ENERGY.
I HAVE BEEN TALKING ABOUT
PENT-UP DEMAND BUT THERE WAS
KIND OF ALSO JUST A PENT-UP
EXUBERANCE.
PEOPLE KIND OF, THEY WERE
CHOMPING AT THE BIT TO GET TO
THEIR FAVORITE MACHINES.
FOR MONTHS I HAVE BEEN
ADVOCATING OPENING UP.
I THINK PEOPLE NEED A BREAK FROM
THE STRESS AND ANXIETY AND
CASINOS ARE PRETTY MUCH A
SOLUTION TO THAT.
IT WAS WILD.
IT WAS GREAT TO SEE A SELECT
NUMBER OF CASINOS OPENED LAST
NIGHT AT 12:01, AS YOU SAID.
TODAY, THE BIG CASINOS ON THE
STRIP ARE OPENING UP.
DOWNTOWN IS KIND OF A MICROCOSM
OF LAS VEGAS SO I TOOK IT AS A
REALLY GOOD SIGN THAT PEOPLE
WERE READY TO GET BACK AND HAVE
FUN.
OBVIOUSLY WITH CARE.
I HAVE KIND OF BEEN USING THE
PHRASE CONFIDENCE AND CARE
BECAUSE THE NUMBERS HAVE LOOKED
PRETTY GOOD, ESPECIALLY IN
NEVADA.
CARE ALONG WITH THAT AND THE
CASINOS HAVE TAKEN A LOT OF
STEPS TO MAKE PEOPLE FEEL MORE
CONFIDENT.
LIZ: CAN YOU GIVE US, OUR
VIEWERS, A SENSE OF ROOM
OCCUPANCY NUMBERS WE ARE SEEING?
BECAUSE THE CASINO STOCKS TOOK
OFF A DAY OR TWO AGO AFTER YOUR
BLOG PUT OUT SOME NUMBERS AND
THEY LOOK TO BE PRETTY GOOD FOR
THE COMING WEEKEND AND
IMMEDIATELY WE SAW CASINO STOCKS
JUST JUMP, AND SO GIVE US A
SENSE OF THE LATEST NUMBERS YOU
HAVE AND WHAT YOU ARE HEARING
ABOUT.
>> WELL, I ALWAYS GET NERVOUS
WHEN THE MARKET DOES ANYTHING
BASED ON MY SILLY TWEETS BUT I
DO SPEAK TO FOLKS IN THE
INDUSTRY.
IT WAS LOOKING VERY GOOD FOR
FLAMINGO AND CAESARS PALACE
SPECIFICALLY.
FLAMINGO, I HAD HEARD THEY WERE
BOOKED TO 70%.
AS YOU KNOW, THE OCCUPANCY LIMIT
IS 50% BUT THAT DOESN’T KEEP
THEM FROM TAKING BOOKINGS.
ACTUALLY THEY OPENED A THIRD
HOTEL TO ACCOMMODATE THAT
PERCENTAGE OVER.
SO THE CASINOS ARE OPENING MORE
QUICKLY THAN EXPECTED.
BECAUSE OF THAT DEMAND.
I THINK THERE WERE A LOT OF BIG
QUESTION MARKS.
SOME OF THE QUESTIONS HAVE BEEN
ANSWERED OBVIOUSLY FROM WHAT
HAPPENED LAST NIGHT BUT ALSO
THESE FOLKS ARE REALLY GOOD AT
PROJECTING DEMAND, WHEN THEY
START TO SEE SIGNS THAT THINGS
ARE COMING BACK AND ROOM
OCCUPANCY IS ONE OF THOSE THINGS
WHERE THEY CAN SEE IT VERY
CLEARLY AND THEY DECIDED -- THEY
PLANNED ON DOING TWO MAJOR
RESORTS UP FRONT, AND NOW HAVE
DECIDED TO OPEN ANOTHER.
I’M HEARING THAT THAT’S TRUE
ACROSS THE BOARD.
MGN RE
MGM RESORTS, THEY OPENED TWO,
WENT TO THREE AND ALL THEIR
PROJECTIONS, SOME OF WHICH WERE
VERY PESSIMISTIC, SOME OF THESE
CASINOS THEORETICALLY WOULD NOT
HAVE EVEN OPENED UNTIL 2021,
THOSE ARE ALL BEING MOVED UP.
LIZ: OKAY.
COULD I JUST ASK YOU, WE SHOWED
A LIST OF THE ONES THAT HAVE NOT
REOPENED.
THE MIRAGE.
THAT’S A PRETTY HOT PROPERTY.
WHY WOULDN’T THE MIRAGE OPEN?
IS THAT ANYTHING WE CAN DEDUCE
FROM THAT ABOUT THEIR BOOKINGS?
>> THERE ARE A LOT OF -- SO MANY
VARIABLES, SO MANY MOVING PARTS.
PART OF IT HAS TO DO WITH SHEER
LOGISTICS.
EACH OF THE MAJOR CASINO
COMPANIES DECIDED TO OPEN ONE OF
THEIR HIGH END RESORTS, THEIR
HIGHEST END RESORT, AND ONE THAT
WAS A LITTLE MORE VALUE
ORIENTED.
THE MIRAGE IS PROBABLY RIGHT IN
THE MIDDLE.
SO IT WAS PROBABLY SEEN AS BEING
REDUNDANT TO NEW YORK NEW YORK
WHICH WAS THE ONE THAT IS
OPENING TODAY.
SO THERE ARE A MILLION FACTORS.
MANY OF THEM RELATED TO DEMAND
BUT ALSO JUST THE LOGISTICS
BEHIND THE SCENES, BACK OF
HOUSE, HOW FOOD IS PURCHASED,
DISTRIBUTED, HOW STAFFING IS
DONE, WHAT THE UNION
REQUIREMENTS ARE.
THERE’S A LOT OF VARIATIONS
THERE.
THEY ARE DOING IT VERY
STRATEGICALLY, IN A VERY
REASONABLE WAY SO THAT THEY’RE
NOT KIND OF OVEREXTENDING BEING
TOO OVERLY OPTIMISTIC BECAUSE
ONCE YOU PUT BODIES IN THAT
BUILDING, YOU ARE TALK ABOUT
THOUSANDS OF PEOPLE BOWING
BROUGHT BACK TO WORK AND JUST
THE SHEER ADMINISTRATIVE HEFT OF
THAT.
THEY ARE HAVING TO MAKE THESE
DECISIONS IN A VERY DELIBERATE
WAY.
LIZ: IT’S GREAT TO HAVE YOU.
I WOULD LOVE TO HAVE YOU BACK.