China is the largest steel exporter in the world, and many construction projects in the United States have been budgeted based on the price of steel imported from China. If a truce is not reached during the trade war between the United States and China, the tax on steel imports will be increased from 25% to 30%. With a significant increase in the prices of materials, which will become unduly burdensome for the construction of a casino in Las Vegas. Tariffs increase the cost of steel, and Vegas Construction says it is unwilling to pay that price.
The development of Las Vegas casinos could be hit hard as many projects will have to rethink their future. This development will not affect virtual platforms, including the licensed online casino at https://casino-slotschampion.com/oficialnyy-sayt/, since for the introduction of new online machines it is not necessary to implement new construction projects. Jeremy Aguero, an analyst at Applied Analysis, told the Las Vegas Review-Journal: “We are hearing more and more about projects that overestimate the transition from planned to actual construction due to increased costs of implementation.
According to data from the Las Vegas Convention and the Visitor Affairs Administration (LVCVA), Vegas is currently considering several major projects, with approximately $ 15.2 billion spent on either construction-in-progress or planned projects that would otherwise have opened before 2022. Such projects include Resorts World Las Vegas, The Drew (formerly Fontainebleau), the Hard Rock-to-Virgin modernization and the possible purchase and subsequent renovation of the Palms by Red Rock Resorts.
Another project will move forward, but it will have to decide how to cover the difference in cost. A new sports and entertainment complex is popping up in Las Vegas with the backing of former NBA star Jackie Robinson, and its value has increased to $ 3 billion from $ 2.7 billion due to higher steel prices and increased labor costs.
