Tourism figures are expected to slow down through the rest of the year, following the tragic event of the Las Vegas shooting. Casinos and police may have to impose new security measures after gunman Stephen Paddock brought more than 20 rifles into his hotel room and drove a car filled with explosives into the parking garage.
Stock prices for all Las Vegas casino companies have taken a drop since the shooting while Morgan Stanley predicts that demand for the Las Vegas market will decrease for about six months resulting in a 4-6 percent effect on the economy.
Increased security has also been a question mark for the time being. In the immediate aftermath of the shooting, increased security measures such as more diligent vehicle checking, increased police presence on the Strip, plus hand-held metal detectors were all implemented. Since then, they’ve all been rolled back.
Spokeswoman Debra DeShong for MGM Resorts International said in a statement that the company has elevated its level of security without providing any details.
In the immediate aftermath, however, it doesn’t look like tourism has been hurt too much. So far, MGM has yet to comment on any hotel or convention cancellations while Caesars said that its properties hasn’t seen any outside-the-norm room cancellations and all conventions on its property are still happening as planned.