.Caesars Entertainment drops from S&P 500 amid Vegas tourism shift
Scripps Local · Just In
Scripps Local
Just In
Caesars Entertainment has been removed from the S&P 500 as Las Vegas faces declining tourism. Hotels are lowering base rates while keeping resort fees high. The Las Vegas Convention and Visitors Authority is launching a new campaign to attract more visitors.
Breakdown
- Las Vegas visitation has steadily declined in recent months, per LVCVA data.
- Hotel occupancy and room rates have dropped, but resort fees and parking charges remain high. 8s
- Concerns have been raised about possible layoffs and Caesars Entertainment's removal from the S&P 500. 17s
- Resorts are questioning whether the Strip remains a value destination. 28s
- The LVCVA has launched a new national ad campaign to attract more tourists. 47s