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'Super' Las Vegas weekend may see $100 million in lost business amid pandemic

Jobs, wages, taxes hurt by COVID impacts
These are photos of the Las Vegas strip at Flamingo and Las Vegas Boulevard as seen in Jan. 2021
LAS VEGAS STRIP WITH CARS
The Westgate Superbook is one of the largest in the world as seen in these photos taken Sept. 2020.
The Westgate Superbook is one of the largest in the world as seen in these photos taken Sept. 2020.
circa3.jpg
Circa hotel and casino opened in Oct. 2020 and is the first newly built, from the ground up, in downtown Las Vegas since 1980
Circa hotel and casino opened in Oct. 2020 and is the first newly built, from the ground up, in downtown Las Vegas since 1980
Posted at 8:38 PM, Feb 05, 2021
and last updated 2021-03-16 18:46:09-04

LAS VEGAS (KTNV) — The biggest NFL game of the year usually translates to a super busy and profitable weekend for Las Vegas but the pandemic will put a damper on the party, leading to a staggering loss in revenue.

In a typical year, the Super Bowl would bring in 300,000 visitors and boost the local economy by as much as $500 million dollars.

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Since the pandemic forced closures and severe restrictions on businesses, Las Vegas has sputtered along in the neighborhood of 40% to 60% of "normal" business and economic numbers according to Jeremy Aguero of Applied Analysis.

“I don’t want to compare Super Bowl weekend necessarily with New Year’s or the sports betting with March Madness, there’s a lot of great weekends in Las Vegas. This is one of them," said Aguero.

"It is one that is critically important to us during a really important time for Las Vegas," added Aguero.

The losses this weekend could be as much as $100 million which would have translated to jobs, wages, and taxes generated to pay for critically important services.

"What you are talking about is 300,000 visitors, traditionally that come here and hundreds of millions of dollars in economic impact. All in a single weekend," explained Aguero. "It's a very important weekend."

Still, there will be gatherings and parties in Las Vegas which Aguero estimates could bring in between 70% and 80% of "normal" revenue.

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"Vegas is going to try and have a Super Bowl Sunday, Vegas is going to give it the good old college try," said Anthony Curtis with LasVegasAdvisor.com.

Curtis says a recent survey conducted this week shows there are many parties planned but most have filled and there are no more reservations available.

“Surprisingly, there are a lot of parties around town but a lot of them are already at capacity and you can’t make a reservation for them,“ added Curtis.

Curtis says hotel room rates are higher than normal, as expected on a Super Bowl weekend, but some properties remain closed or are not operating at full capacity.

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The state of Nevada remains under severe restrictions at 25% of capacity for many public venues.

“There will be people coming in, of course, it won’t be the same type of crowds we’ve seen in the past with the Super Bowl, but especially people coming in driving in from LA," added Curtis.