Looks like Las Vegas Strip may be planning to open for Memorial Day Weekend?

All nonessential businesses in Nevada were temporarily closed on March 17 by Governor Steve Sisolak because of COVID-19. Sisolak’s order was extended through April 30.

MGM Resorts International (NYSE: MGM) company spokesman says they have canceled room reservations at its Las Vegas properties through May 21.

According to a Securities and Exchange Commission filing, whenever the Las Vegas Strip reopens, MGM officials expect to open their properties incrementally. MGM's filing indicated the company’s 10 casinos on the Las Vegas Strip will be opened in phases. However With reservations for Friday May 22nd and the Memorial Day weekend not being included in the cancellations notice, this may indicate that the first phase will be a soft re-opening for the holiday weekend for those who already have reservations.

Visiting the MGMResorts.com webpage, the first available date for booking is June 1st. This may indicate a second phase in re-opening of the Las Vegas Strip for new reservations.

Because of the economic fallout from the Coronavirus pandemic, MGM's stock took a downturn around February 20th and bottomed around March 18th, dropping approx $25 a share the day after Vegas was shuttered.

While the company isn’t scheduled to release its first quarter financial performance until 4/30/20, company officials predicted dire results for the first quarter of 2020. MGM is estimating its consolidated net revenue total for the quarter to be about $2.3 billion, which would be about a 29% decrease from the same period in 2019.

Officials also mentioned MGM’s solid liquidity, the company reported it has about $6 billion in cash. The domestic properties still cost about $270 million per month to maintain and have begun "aggressive cost reduction initiatives".

About 52,000 of MGM’s 80,000 world wide employees are based in Las Vegas.

MGM Properties: Bellagio, ARIA, MGM Grand, Mandalay Bay, Delano Las Vegas, Park MGM, The Mirage, New York-New York, Luxor, Excalibur.

Not knowing how long travel restrictions will last and how scared the population is to return to crowded venues, it remains unknown how fast the casinos will get back to normal. So these cost cutting measures will help ensure sustainability until it is back to business as usual.

No matter what, vacations like Casinos, Cruises and Theme Parks will likely be forever changed.

Get Free Casino Comps
RobinHood.com Get a Free Stock

CDC - Cruise Line No Sail Order Extended

Cruise ships haven't been sailing since March 14th, 2020, and that means a lot of refunds being issued by Carnival (NYSE:CCL), Royal Caribbean (NYSE:RCL), and Norwegian Cruise Line (NYSE:NCLH).

On Thursday April 9th, The Centers for Disease Control and Prevention (CDC) announced an extension of a No Sail Order for all cruise ships for 100 days. This means Ships won't sail til at least mid-July.

The highly leveraged cruise lines are attempting to retaining the funds already paid to them for Spring and Summer bookings and encouraging guests to accept 125% credits toward a future cruise and/or large amounts of on-board credit to rebook a future date.

Even those booking new cruises are getting great deals. For example, I checked today on a Cruise to Mexico and the cruise, taxes, fees and gratuities add up to less than the onboard credit Carnival offered, meaning I would make $6.78 on taking the cruise.

All 3 cruise lines have taken steps to slow spending, but cash flow is still needed.

As the cruise lines are not registered in the US, they may not be eligible for US Government loans and assistance from the Stimulus. Carnival is incorporated in Panama, Norwegian is incorporated in Bermuda, and Royal Caribbean is incorporated in Liberia.

Royal Caribbean has recently accessed approx $3.5 billion from existing credit lines.

Carnival has shown that at the right price, the cruise industry can find the money it needs amid turmoil caused by the coronavirus (COVID-19) panic. Carnival initiated an effort to raise over $6 billion to shore up liquidity. Approx $4 billion was raised by selling its debt by way of secured bonds (secured by a first-priority claim on the company’s assets). The three-year bonds have a yield of just under 12%. Information released during the bond offering: Carnival has received 39,000 bookings since it stopped sailing, and 45% of customers whose cruises had to be canceled/rescheduled chose credit for future trips as opposed to cash refunds.

On 4/6/20, a filing with the Securities and Exchange Commission shows that Saudi Arabia’s Public Investment Fund (PIF) now owns an 8.2% stake in Carnival. Saudi Arabia’ PIF held no stock in the cruise line at the start of 2020.

The same day, Carnival director Randall Weisenburger paid $10 million for a large block of shares at $8 a share. He now owns 1.38 million Carnival shares,  he had last bought Carnival stock on July 3, 2019, when he paid $930,000 for 20,000 shares, a per-share average price of $46.50.

Swiss bank USB report issued March 31, found that 9% more cruises have been booked for 2021 than were being booked the same time last year. This does include people using credits for canceled cruises, but the increase still shows many have the desire to book a cruise and the industry will bounce back when restrictions are lifted. How soon will you plan your next cruise?

Carnival Cruise Line

Customer service: 1 (800) 764-7419
Reservations: 1 (800) 327-9501
Headquarters: Miami, FL

Norwegian Cruise Line

Customer service: 1 (866) 234-7350
Reservations: 1 (866) 234-0292
Headquarters: Miami, FL

Royal Caribbean International

Customer service: 1 (800) 256-6649
Reservations: 1 (866) 562-7625
Headquarters: Miami, FL


Get free stock when you sign up at RobinHood.com
Get Free Comped Cruises from URComped.com

Disneyland & Universal Studios Hollywood Close Amidst Coronavirus Panic

Disney and Universal Studios close California parks in March to help halt spread of Coronavirus. Update: Knott's Berry Farm announced on Facebook, they are following suit.

Walt Disney Company spokesperson released a statement this afternoon saying, “While there have been no reported cases of COVID-19 at Disneyland Resort, after carefully reviewing the guidelines of the Governor of California’s executive order and in the best interest of our guests and employees, we are proceeding with the closure of Disneyland Park and Disney California Adventure, beginning the morning of March 14 through the end of the month”.

Another California Theme Park, Universal reported a closure with a similar statement, “The health and safety of our team members and guests is always our top priority,” said a spokesperson for Universal Studios Hollywood. “Out of an abundance of caution and in response to the guidance provided by the California Department of Public Health, Universal Studios Hollywood will temporarily close beginning Saturday, March 14,” they added. “The theme park anticipates reopening on March 28 as we continue to monitor the situation.”

This is only the 3rd time Disneyland has fully suspended operations since opening on July 17, 1955.

• Day of mourning following President John F. Kennedy's assassination
• Response to 9/11 

There was also a partial shut down in 1994 for safety inspections after the Northridge earthquake.

Universal Studios' Citywalk will remain open as will Disney Downtown, both feature eateries and shopping.

Disneyland will also keep its hotels open until Monday, March 16 "to give guests the ability to make necessary travel arrangements.". Park officials are expected to work with guests looking to change or cancel visits.

Disneyland temporarily reaches capacity a few times a year during the peak tourist seasons (estimated 80,000 capacity with approx 65,000 visitors on an "average" day), usually in mid-summer and around Christmas break. That means there will be over a $7 Million dollar loss per day in just ticket sales.

Estimates of a two-day closure of the Disney World in Florida following Hurricane Irma in 2017 were an approx $100 million hit to Disney's operating profits.

Disney stock fell to $91.81 USD, down −$13.78 (13.05%) from previous close of $105.59.

Is The Walking Dead Attraction closing at Universal Studios Hollywood?

Update, This has been confirmed:
Universal Studios Hollywood spokeswoman Audrey Eig stated “We continually evaluate our entertainment offerings and are thrilled guests have enjoyed ‘The Walking Dead’ attraction as part of our daytime mix,” She continued to report “A temporary “Walking Dead” maze will return during the park’s annual Halloween Horror Nights event.”

This information has not been confirmed by Universal Studios Hollywood, so treat it as a rumour until an official announcement is made.

According to www.insideuniversal.net, the only source I could find making this claim: The Walking Dead Attraction (TWDA) which is a year-round walk-through haunted house, may close on March 3rd, 2020.

Located in the Upper Lot, the attraction is located near the theme park’s entrance in a building built specifically for it. The attraction opened July, 4th 2016.

You follow in the footsteps of Rick Grimes, Daryl Dixon and other survivors, making your way through iconic scenes!

The speculation appears to come from the walk-through's proximity to Secret Life of Pets: Off the Leash Attraction, set to open this Spring. Universal Studios is in the process of transforming the area from Baker Street to Pets Place, connecting the family-friendly Illumination Entertainment properties.

TWDA has been a staple in Halloween Horror Nights and replaced the previous haunted attraction 'Universal’s House of Horrors'.

So what are your thoughts? Will it close? Should it Close?