Majority of Americans want COVID-19 vaccine on market before visiting Las Vegas: Macquarie Survey
Las Vegas casinos will likely take a long time to return to normalcy as a survey conducted by research firm Macquarie Group indicates that travelers want COVID-19 vaccine to be available in the market before visiting the gaming hub.
According to the newly-released survey report, 65 per cent of the 417 adults polled by the research firm said that that they would not travel to the Sin City until an approved corona virus vaccine becomes available in the market. Based on 2019’s Las Vegas visitation stats, 65 per cent equals to 28 million visitors.
Following the last five years of forty-two million visitors (on average), the current year was expected to surpass that mark by attracting more gaming and entertainment enthusiasts to the Sin City. Previously estimated major demand-drivers included the National Football League (NFL) Draft and the opening of Allegiant Stadium. But, the outbreak of COVID-19 infections disrupted all those demand drivers. The NFL pulled the previously planned draft from Las Vegas and opted for a studio format. The Sin City will likely not be able to host the event before 2022.
While a number of pharmaceutical companies, including J&J, Pfizer, Gilead and Moderna, are working around the clock to produce an effective treatment to fight back corona virus, it will probably take many more months for a treatment to hit the market.
Concluding the findings, Macquarie said, “The base case scenario is that health officials and regulators will have an answer on at least one of the vaccines currently in development by December or early 2021. Assuming that news is good, it would still take several months before the product could be widely distributed.”
After originating in China, the deadly corona virus gradually spread to other parts of the world, including the United States. High rate of infections and deaths accompanied by lack of treatment forced authorities to issue closure orders for all non-essential businesses like casinos. As the economy of Las Vegas as well as Nevada is mainly based on gambling and entertainment industry, the months long closure of casinos made a big dent in it. While most of the gambling facilities are once again up and running, in it is unlikely that the gaming hub will return to normalcy in the foreseeable future as the facilities are operating with a number of restrictions in place.
The survey suggested that the deadly corona virus remains a major hurdle on the way back to normalcy. As the many states of the US have started reporting a second wave of the deadly infection, the gaming industry’s recovery may take even longer time. In short, hopes of the Sin City’s recovery could be pushed to sometime in the second half of 2021.
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