Plenty of uncertainty
The world was swept into turmoil on Wednesday after US President Donald Trump’s “Liberation Day” tariff announcement took some unexpected twists and turns.
retaliation is expected in the coming days
These new taxes hit most big countries, and retaliation is expected in the coming days. Global stock markets were in the red on Thursday morning, with the S&P 500 down 3.5% in pre-market trading.
Concerning times
Everyone from employees to business owners and government officials is now trying to determine whether these changes will impact their industry or operations.
Of the 2,500+ people who responded to a poll from Las Vegas Locally on what they thought this might mean for Sin City, 68% believe the tariffs will hurt the local economy:
Only 18% believe tariffs will help Las Vegas, with the remaining 14% being unsure.
Knock-on impact
The general consensus is that the tariffs will hit the wallet of the general consumer as companies pass on much or all of the costs by increasing prices.
That will, in turn, lead to people having less money to spend on vacations, entertainment, and gambling. Of course, this would have a big knock-on effect on Las Vegas, which relies so heavily on these verticals.
Airport traffic numbers and gaming revenue have dropped recently, perhaps a warning of what’s to come.
share prices drop between 3.5% and nearly 5% overnight as investors react to the news
Major casino companies like Wynn Resorts, MGM Resorts, and Las Vegas Sands have seen their share prices drop between 3.5% and nearly 5% overnight as investors react to the news.
