In a press release this morning, Caesars Entertainment (CZR +0.00%) says it will be the first casino and resort company to bring live entertainment back to the Las Vegas Strip. The first show opens today, with three additional shows to begin operating by Nov. 11.
Caesars is leading its initiative with adult entertainment, with X Country, a topless revue, at the company's Hannah's Cabaret property. Other shows the company has slated include Absinthe, a modernized burlesque performance, along with the comedian and magician Piff the Magic Dragon and the more family-friendly Tape Face comedy and magic show.
Image source: Getty Images.
The live shows are competing with the animatronics entertainment that rival Wynn Resorts (WYNN 3.15%) introduced at the start of October. Caesars' comedians and showgirls will find themselves competing against 28-foot-tall singing toucan robots for the limited number of fun-seekers currently visiting Vegas.
Though Caesars has multiple health protocols in place both for its shows and its open casino facilities, it faces a sharp shortage of customers along the Strip due to the coronavirus. In an Oct. 16 article, the Las Vegas Sun quoted at least one highly experienced casino owner as saying he believes gambling traffic in Las Vegas won't recover to its pre-coronavirus levels until 2022.
With gambling revenue in physical casinos still sharply down, Caesars Entertainment has recently made an aggressive push into the booming online sports betting sector. The analysts at casino-focused Union Gaming believe an internet sportsbook could push Caesars' stock to record highs, regardless of the success or failure of its live shows on the Strip.
