"R0" is pronounced "R-naught" and it's a subscript number 0, not a lowercase letter o. Generally when subscript is not available, it's typed as "R0" and not "Ro" to prevent confusion. The R0 number measures how many people, on average, that an infected person will spread the disease to. So if the R0 is <1, that means the disease is retreating and will eventually die out on its own. If the R0 is >1, that means that further intervention is required to prevent an outbreak. A R0 = 1 means that infections are stable and the infection rate is not increasing or descreasing.
The estimated R0 of COVID-19 is around 2.5 to 3, so a local R0 of 1.4 is actually quite low and a sign that preventative methods are helping to slow the transmission rate. It's above 1, so it means that infection rate is still increasing, but if the "protective bubble" that Bob McKenzie refers to is put into place to further mitigate the spread of infection, there's no reason why Vegas wouldn't be a suitable location for a hub city.
Here's an article on R0 explained in the vernacular by the NY Times.