because most travelers arrive<\/a> at the largest US gaming mecca via passenger jet.<\/p>\nThat makes Las Vegas vulnerable to airlines’ recent moves to slash routes to conserve cash. Wall Street analysts believe it will be 2022 at the earliest before domestic carriers see capacity levels on par with pre-crisis norms. Compounding Nevada’s woes is that drive-in traffic from neighboring Arizona and California remains slack.<\/p>\n
However, there are incremental signs of improvement. In July, the consumer price index (CPI), the primary gauge of inflation in the US, rose 0.60 percent month-over-month. Relevant to gaming companies, airfares increased 5.4 percent, rental car prices jumped four percent, and hotel rates rose 1.2 percent, according to PIMCO research.<\/strong><\/p>\n\u201cTaking a step back, US prices in travel and leisure services, in general, have been much more flexible during the COVID-19 crisis versus what we\u2019ve seen in past crises,\u201d notes the asset manager.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fixed income manager Pacific Investment Management Co. (PIMCO) sees opportunities with corporate debt issued by travel and leisure companies, including casino operators, particularly if a coronavirus vaccine comes to market. Airlines, gaming companies, and hoteliers, to name a few, were among the leisure segments most repudiated during the March financial market selloff caused by the […]<\/p>\n","protected":false},"author":46,"featured_media":146671,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
PIMCO Enthusiastic on Travel, Leisure Debt, Including Casino Bonds - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n