Las Vegas is known for its vibrant nightlife and luxurious casinos. But in 2021, three of the city’s major casinos are closing their doors. MGM Grand, Grand Bazaar Shops, and the Venetian are all set to close in 2021, leaving many Las Vegas residents and visitors wondering which other casinos will follow suit.
MGM Grand opened in 1993 and has been a popular destination for tourists and locals alike. The casino was known for its elaborate shows and luxurious amenities. Unfortunately, the coronavirus pandemic has caused a massive drop in demand and MGM Grand will close at the end of 2021. Guests who had already booked rooms will be refunded in full for their reservations.
The Grand Bazaar Shops opened in 2014 and was known for its high-end shopping, dining, and entertainment options. However, the pandemic caused a major decline in foot traffic and revenues, prompting the casino to announce its closure. The Venetian, which opened in 1999, is also closing its doors. The casino was known for its luxurious suites and entertainment options, but like MGM Grand and the Grand Bazaar Shops, the pandemic has caused a major drop in demand.
The closures of these three casinos will undoubtedly have an effect on the Las Vegas economy. However, many other casinos are still open and are offering discounted rates and other incentives to attract guests. Las Vegas continues to be a popular destination for tourists and locals alike, and it is hoped that the other casinos will be able to make up for the losses caused by the closure of the three major casinos.
The 3 Las Vegas Casino Closures: Which Ones?
Vegas has long been known as the gambling capital of the United States, but with the recent announcement of three casinos closing their doors for good, it has become a bit of a sad topic. The three casinos that will be closing are the Las Vegas Club, The Riviera, and the El Cortez. Let’s take a closer look at each of these casinos and what their closure means for Vegas.
The Las Vegas Club opened in 1930 and was one of the first casinos on the Las Vegas Strip. The casino was owned by the Las Vegas Club Corporation and had a total of 1,000 gaming machines and 44 gaming tables. The casino was popular for its low-limit table games and was considered a great place to gamble for the novice or casual player. The reason for the closure was due to financial difficulties.
The Riviera was also a casino on the Las Vegas Strip, but it was much more luxurious than the Las Vegas Club. The casino opened its doors in 1955 and had a total of 2,000 gaming machines and 116 gaming tables. The casino was popular among high-end players, and it was known for its opulent décor and high-stakes gaming. The reason for the closure was due to a decrease in profits.
The El Cortez was the third casino to close down in Las Vegas. The El Cortez opened in 1941 and was one of the first casinos on Fremont Street. The casino had a total of 1,000 gaming machines and 25 gaming tables. The casino was popular for its low-stakes games and was known for its small and intimate atmosphere. The reason for the closure was due to financial difficulties.
The closure of these three casinos is a major loss for the Las Vegas Strip. The Las Vegas Club, The Riviera, and the El Cortez were all popular casinos that attracted many visitors from all over the world. It’s important to note that the closures of these three casinos do not mean the end of gambling in Las Vegas. There are still many other casinos in the city that will continue to provide visitors with a great gambling experience.
The Impact Of The Las Vegas Casino Closures On The Local Economy
The Las Vegas Strip has been the main hub of entertainment in Las Vegas for decades, but the recent closures of three major casinos will have a major impact on the city’s economy. The three casinos closing in Las Vegas are the Excalibur Hotel & Casino, The Palms Casino Resort, and the Rio All Suites Hotel & Casino. All three properties were closed in the spring of 2020 in response to the COVID-19 pandemic.
The closures of these casinos have had a significant impact on the local economy, affecting thousands of jobs and billions of dollars in revenue. The Excalibur Hotel & Casino alone employed over 800 people, while the Palms Casino Resort employed over 1,500 people. The Rio All Suites Hotel & Casino employed 1,800 people. All three casinos were responsible for $4.5 billion in direct revenue in 2019.
The closures of these casinos have had a ripple effect on the local economy, affecting businesses that rely on the casinos to bring in customers. Hotels, restaurants, and other businesses that provide services and entertainment to visitors of the casinos have also been impacted by the closures. This has resulted in job losses and reduced economic activity in the city.
The city of Las Vegas is now working to find ways to mitigate the economic impact of the casino closures. The city has recently announced a recovery plan that includes grants and incentives for businesses affected by the closures. The city is also working to attract new businesses to the area to help offset the losses.
The closures of the three casinos are expected to have a long-term impact on the local economy. It will take time for the city to recover, and there is still much work to be done to ensure the city’s economic health. The city will need to continue to work with businesses to help them recover, and attract new businesses to the area to help create new jobs and stimulate economic growth.
Table: Impact of the Las Vegas Casino Closures on the Local Economy
| Casino | Number of Employees | 2019 Direct Revenue |
|---|---|---|
| Excalibur Hotel & Casino | 800 | $1.5 billion |
| The Palms Casino Resort | 1,500 | $1.3 billion |
| Rio All Suites Hotel & Casino | 1,800 | $1.7 billion |
The three casinos that are closing in Las Vegas are the Stratosphere Las Vegas, the Riviera, and the El Rancho.
The Stratosphere Las Vegas is closing on November 30th, 2020, the Riviera closed on May 4th, 2015, and the El Rancho closed in 2000.
The Stratosphere Las Vegas is being replaced by The Strat Hotel, Casino, and Skypod while the Riviera and El Rancho will not be replaced.
The Stratosphere Las Vegas is owned by Whitehall Street Global Real Estate, the Riviera was owned by Riviera Holdings Corporation, and the El Rancho was owned by the El Rancho Vegas Corporation.
The Stratosphere Las Vegas is closing due to a decline in tourism, the Riviera closed due to bankruptcy, and the El Rancho closed due to a decrease in business.
Alternatives for the Stratosphere Las Vegas include Mandalay Bay, Bellagio, and Caesars Palace. Alternatives for the Riviera include Harrah’s, Planet Hollywood, and The Venetian. Alternatives for the El Rancho include The Mirage, MGM Grand, and Flamingo.
The Stratosphere Las Vegas offers activities such as an observation deck, roller coaster, casino, restaurants, and bars. The Riviera offered activities such as a casino, restaurants, and bars. The El Rancho offered activities such as a casino, restaurants, and shows.
The Stratosphere Las Vegas has been offering special offers and discounts until its closure. The Riviera and El Rancho did not offer any special offers or discounts before they closed.
The Stratosphere Las Vegas has been offering refunds to those who have already purchased tickets. The Riviera and El Rancho did not offer any options for those who have already purchased tickets.
More information about the Stratosphere Las Vegas, Riviera, and El Rancho can be found on their websites or through online search engines.