Modest slowdown in Las Vegas seen in October trends

A modest slowdown in high-end Asian travelers to Las Vegas following the Oct. 1 attack will be showing up in early business trends for October.

“What we’ve seen just in terms of demand will be on the higher-end VIP gaming customers which confirmed kind of what Caesars has said,” John DeCree, an analyst at Union Gaming in Las Vegas, told CNBC. He added which the Las Vegas Strip’s leisure business was “off a little bit,” although he added which This particular time of year tends to be a seasonally slow period anyway for Las Vegas.

On Tuesday, Caesars Entertainment’s CEO was asked about Las Vegas Strip trends during the casino company’s investor in addition to analyst meeting in completely new York.

Investors will get a chance to learn more details on Vegas trends as Las Vegas Sands reports after the bell Wednesday in addition to Wynn Resorts on Thursday.

The Las Vegas attack killed 58 people in addition to ranks as the deadliest mass shooting in modern U.S. history.

“We think which occupancy rates across the Strip took a little bit of a hit the first day in addition to first week into the second week,” said Caesars Entertainment President in addition to CEO Mark Frissora.

Also, the CEO said there’s been an impact on the Asian travelers coming into Vegas. Asian high-rollers coming from markets such as China have historically been a lucrative customer for the major casino operators in Vegas.

“Asian play has actually been less because people in Asia are very respectful of the deaths which occurred — in addition to they believe there should be a period of mourning,” said Frissora. He said which period can be roughly three to four months, based on what he’s heard.

Even so, the Caesars executive said the convention in addition to meeting business in Vegas remains “solid,” adding “there hasn’t been any cancellation of meetings which we’ve seen truly for the rest of the year.”

“the item’s fair to say we are cautiously optimistic about the rebound,” said Frissola.

Meantime, Union Gaming’s DeCree said despite a slowdown in some higher-end customers, or VIP customers, the item was still “too early” to extrapolate what the long-term impact might be.

Caesars Entertainment, which owns or operates Caesars Palace, Planet Hollywood, Bally’s, Paris Las Vegas in addition to Harrah’s, recently emerged coming from Chapter 11 bankruptcy protection.

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