“Our advance bookings both for the second half of this year and in  are extremely strong, “Reeg said in an interview with CNBCs Contessa Brewer on “The exchange.” “Business groups want to come back. We just have to make sure we can take them in,” added Reeg.
According to Reeg, Caesar’s future events are approaching with greater uncertainty than they did before the pandemic. One on the short term horizon is the world of concrete can be set In early June at the Las Vegas Convention Center. The event for the concrete and masonry industry has drawn over 60,000 people in pre-Covid years.
“We assume that any group that is booked has more abrasion than normal. We just don’t know how quickly people will come back,” said Reeg.
Caesars stock rose nearly 4% to around $ 96 apiece on Thursday. The stock is up 28% so far this year and 425% over the past 12 months.
Las Vegas was hit hard by the pandemic when health restrictions slowed the spread of the virus mandatory closure of hotels, casinos and restaurants in the tourism-dependent city. After some relaxation, Nevada implemented Governor Steve Sisolak stricter virus mitigation measures in November in response to rising coronavirus cases.
“The case rates here have been pretty scary to be honest. When the cases were withdrawn, we saw the restrictions eased and we saw business resume,” Reeg said, hoping the situation would change Further improvement in public health can lead to “a further relaxation that would allow us to offer comprehensive services to all future Group businesses.”
“They will be wearing masks for the foreseeable future,” he added.
With Covid vaccinations accelerating this year, casino operators are seeing positive signs for their business. Last month, Penn National Gaming CEO Jay Snowden said CNBC He saw “receipts and amounts that I haven’t seen in years.”
Caesars – the country’s largest casino entertainment company – saw a sharp surge in demand as of February, Reeg said. Reeg said the recovery has been “exceptional” at its regional properties in numerous states including Indiana, Iowa and Arizona. “There’s a lot of pent-up demand out there.”
Public health officials in the United States have continued to stress to Americans that despite advances in vaccines, the country is making a recovery from Covid still faces challengeshow highly contagious variants. The Pandemic trajectory In Michigan in particular, there is cause for concern.
“This is a critical moment in our fight against the pandemic,” said CDC Director Dr. Rachelle Walensky last week. “We cannot afford to let go of our watch.”