RD Heritage Co-Founder Dr. Robert Davis Explores What Post-Coronavirus Las Vegas Might Look Like?
While the coronavirus pandemic has inevitably shifted the tourism landscape, many highly populated tourist locations such as Las Vegas, have been heavily impacted by government social distancing mandates. With the closing of popular restaurants and nightclubs, business owners have either had to adapt to the current stay at home order or close altogether.
However, there is growing (but cautious) optimism in Las Vegas that the worst of the coronavirus pandemic is over. But this does not mean that things are — or perhaps ever will — return to exactly how they used to be; either for the locals, or the 42 million tourists that annually flock to the city each year.
“When people think of Las Vegas, they imagine dynamic, non-stop energy, excitement, and entertainment,” commented Dr. Robert Davis, the co-founder of RD Heritage, a partnership of five family offices and their portfolio investments. “The good news is that there is nothing — not even a global health crisis — that can extinguish the essence of what Las Vegas is all about. However, the bad news is that things are going to look and feel quite different for the foreseeable future, and it’s going to take tourists as well as locals some time to get used to.”
Implications of Social Distancing Measures
One of the biggest changes that Robert Davis — whose firm RD Heritage is headquartered in Las Vegas, and who has lived in the city for nearly 20 years — refers to is already taking place on Las Vegas’ fabled casino floors. Occupancy limits and social distancing rules mean that fewer people are allowed to gamble. At the same time, individuals who don’t gamble but still want to enjoy the energy of the casino — or at least, provide moral if not financial support to their spouses, friends, or other companions who are gambling — should expect to find themselves politely asked to leave the immediate premises.
What’s more, change is also taking place outside of the casinos. Gone are the days (at least for now) of hundreds or thousands of people flocking outside to take in a concert, enjoy a dazzling fireworks display, or gather with other hockey fans outside of T-Mobile Arena and watch a Las Vegas Golden Knights game. Crowd control is in full effect, and any large gatherings will be broken up by hotel employees or police, with those who don’t comply subject to hefty fines.
And then, of course, there is glorious thing that brings so many people from across the U.S. and around the world to Las Vegas each year, conventions.
“Each year, there are around 20,000 conventions that are held in Las Vegas, including many enormous events such as CES which welcomes around 185,000 participants,” commented Robert Davis, who prior to launching RD Heritage spent 10 years as an ER, Ambulatory Care Physician, and locum tenens physician in rural communities across the country. “In the wake of COVID-19, the maximum number of people who can gather in a convention hall or other similar space is 250. This is not just going to dramatically change how events are held, but it is going to force them to re-invent themselves by moving a great deal of content, such as keynotes and demonstrations, online.”
Naturally, the transition towards a post-coronavirus world is going to be challenging for Las Vegas; just as it will for other cities across the country and around the world. However, while the road ahead will be difficult, there is little if any doubt that Las Vegas will adjust and ultimately triumph.
“The people of Las Vegas are incredibly hard working and take an immense amount of pride in this city,” commented Robert Davis, whose firm RD Heritage holds diverse investments in food, real estate, pharmaceuticals, medical devices, biotech, solar energy, and oil & gas exploration and production. “Will the next version of Las Vegas be the same as the one that we’re used to? No, it won’t. But I believe that it will emerge even better, stronger, and more energized and dynamic.”