In The News: Lee Business School
With the Strip effectively closed by the coronavirus pandemic, job losses have soared to record levels in Nevada.
Like much of the country, Nevada has all but shut down, with the bright lights of the Las Vegas Strip replaced with the flashing lights of police cars stationed in front of casinos amid efforts to slow the spread of COVID-19.
Like much of the country, Nevada has all but shut down, with the bright lights of the Las Vegas Strip replaced with the flashing lights of police cars stationed in front of casinos amid efforts to slow the spread of COVID-19.
Hector Padilla lost his Las Vegas house after the 2007-09 recession. It could be happening all over again.
At a time when the new coronavirus threatens not only public health and safety but also the livelihoods of small-business owners, Las Vegas entrepreneurs are adapting or upending their business models to continue serving their communities. In turn, they hope locals will continue to support them.
The coronavirus has spread to every continent. The numbers of confirmed cases and death continue upward in many countries. Doctors and nurses around the world are trying to save patients, but it seems the number of patients who need treatment is greater than the medical care available in some countries like Italy and Spain, and previously in cities such as Wuhan, China and Daegu, South Korea.
It’s hard to imagine a place that stands to lose more during the coronavirus outbreak than Las Vegas. Its economy is built on big gatherings: casinos and concerts, conferences and clubs. According to the Nevada Resort Association, a quarter of all Nevada workers are in the hospitality industry.
Stephen M. Miller, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas, gives insight into how the COVID-19 pandemic impacts American economies.
On the low end, Penn National Gaming is burning through $6.4 million daily having just 5.2 months before running out of cash, the report said.
On the low end, Penn National Gaming is burning through $6.4 million daily having just 5.2 months before running out of cash, the report said.
On the low end, Penn National Gaming is burning through $6.4 million daily having just 5.2 months before running out of cash, the report said.
The U.S. convention industry is expected to lose billions of dollars in revenue, as businesses restrict employee travel and governments ban large gatherings in the face of the coronavirus, an industry group said.