G2E Officially Cancelled
The Global Gaming Expo, or G2E has been officially canceled due to concerns of the coronavirus pandemic. The event was scheduled to take place from Oct. 5-8, but recent spikes in positive COVID-19 cases have forced the event organizers to cancel the event.
The Sands Expo and Convention Center in Las Vegas was set to host the event, but this will end up being another event that has been canceled in the Las Vegas area. Global travel restrictions and unclear guidelines are the main reasons for the cancellation of the event.
The American Gaming Association is the leading sponsor of the G2E event, and they have noted that there is simply too much uncertainty in the country to host the event. Health and safety have always been a priority for the American Gaming Association, and they are unsure that they can provide a safe environment for presenters and guests.
G2E is the largest trade show in the gaming industry in the United States, and the AGA spends millions of dollars on the event each year. There have been more than 30,000 attendees at the event over the last 20 years, but it continues to grow every year.
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Even though the G2E has been canceled in 2020, the AGA is working to produce a virtual event this year. Several key players in the sports betting industry were set to present at the expo, and they can transform their productions into a digital format.
Vegas Loses Out Again
The city of Las Vegas has been hit hard by the coronavirus pandemic, and the gambling industry has been dealt the biggest blow. The city is also home to many other conventions and large events, and none of these have been able to take place in 2020.
Las Vegas lost out on the 2020 NFL Draft, which cost the city millions of dollars. Other small conventions were forced to cancel their events in Las Vegas, but the city was counting on G2E to bring in some revenue this fall.
There were over 42.5 million visitors that traveled to Las Vegas a year ago for conventions, but the city has not been able to host any large events since March. The Las Vegas economy is supported by tourism, and the area is set to lose close to $2 billion during 2020.
Las Vegas will be awarded conventions in the future, but the revenue lost in 2020 cannot be made up.
Hotels Also See Major Revenue Loss
Hotels on the Las Vegas Strip were hoping to bring in plenty of money during the G2E convention, but now that won’t be the case. Hotels were jacking up prices for rooms during the event, and they were looking to make up for lost revenue during the coronavirus pandemic.
Almost all of the hotels in Las Vegas had increased their prices for the G2E convention, but now they are set to issue several refunds. Most of the rooms had already been booked for the event, but other guests were waiting until the date got a little closer.
Sands’ Venetian and Palazzo were charging $277 per night for a standard room during the G2E conference, which was much higher than the normal rate. Encore was charging guests close to $400 per night from Oct. 5-8.
Some of these hotels are still shut down due to the coronavirus pandemic, but they were expected to reopen in time to host guests for this massive conference. It’s unclear what the cancellation policy is for each of these hotels, but all of the resorts will once again be missing out on significant revenue with another cancellation in Las Vegas.