Market Needs 'Catalyst' for People to Feel Safe in Large Gatherings, Says Sands COO

Weekend occupancies at the Venetian and Palazzo “have been as high as 70%,” said Las Vegas Sands CEO Sheldon Adelson on a Q3 investor call Wednesday. The resorts are “working diligently to prepare to safely host convention and group meeting customers from throughout the world,” he said. Resuming a higher volume of commercial “airlift” into and out of McCarran airport and bringing back the convention business “are both critical components to achieving a full recovery in Las Vegas,” said Adelson. CES 2021 was canceled in July as a physical show at the Las Vegas Convention Center (see 2007280034), and the NAB Show was postponed at the LVCC to October 2021 from April (see 2009090049). Sands sees “some bright spots” looming in the Vegas convention and group business, said President-Chief Operating Officer Robert Goldstein. “Some of these large shows still want to come in Q1. We have a couple of major impediments that I don't know how we're going to correct them.” Nevada Gov. Steve Sisolak (D) imposed restrictions on large public gatherings, and “it's very difficult to overcome that,” he said. The Sands organization hopes Sisolak will "revisit those restrictions and enable the market to talk to some of these large shows,” said Goldstein. Sisolak’s office didn’t respond to questions Thursday. The governor announced a loosening of restrictions on large gatherings last month. The positive news is, “we’re getting inquiries from people from all different parts of group market saying 'we want to come back.'” The market needs a “catalyst” to change how people view “being in a place with 30,000, 40,000, 50,000 people,” he said. Goldstein doesn’t see “a lot of change” in Vegas “until there's a change structurally in the governor's position,” plus an increase in airline volume and a change in people's willingness to be in large gatherings, he said.