Though authorities are not calling the horrific massacre in Las Vegas a terrorist attack, the atrocity might have a negative impact on a city built on gambling and entertainment.

At least 50 people were killed and more than 200 were injured when a gunman fired an automatic weapon from the roof of the Mandalay Bay Resort and Casino Sunday night at those attending a large outdoor concert festival in the deadliest mass shooting in U.S. history. SWAT units killed the gunman, 64-year-old Stephen Paddock.

CNN reported that hospital officials said 104 patients were receiving care at the University Medical Center of Southern Nevada.

Thousands of people fled in horror during the performance of country singer Jason Aldean, who was on stage outside at the Route 91 Harvest Festival, a three-day country music event.

McCarran International Airport in Las Vegas said that some flights bound for the airport were diverted because of police activity. The airport is just east of the Mandalay hotel. The hotel was placed on virtual lockdown after the shooting, according to guests.

The stakes are high for Las Vegas. Tourism supports 407,000 jobs, or 44% of the work force in southern Nevada, according to the Las Vegas Convention and Visitors Authority.

Through August, the desert resort has had 28,541,867 visitors, down 0.9% from a year ago.

Hotel occupancy in Las Vegas is averaging over 90% and revenue per available room, a key measure of profitability in the hospitality industry, was up 4.4% to $116.42. The average daily room rate price was $129.44, an increase of 4.3% from a year ago.

Gaming revenue in Clark County, where Las Vegas is located, has risen 4.3% to $6,687,769,000 for the period ended in August.

Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.