On Thursday, Caesars Entertainment announced that due to economic downfall caused by the coronavirus casino closures, they would be furloughing roughly 90 percent of its staff in the U.S.
This decision came on the heels of government officials extending shutdowns and social distancing guidelines. Originally, Nevada casinos were to be shut down for 30 days, scheduled to reopen April 16. Gov. Sisolak has since extended the shut down until April 30.
The furloughs will affect the company’s domestic employees, including corporate staff members.
Tony Rodio, Chief Executive Officer of Caesars Entertainment said the company has been taking “difficult but necessary steps to protect the company’s financial position and its ability to recover when circumstances allow us to reopen and begin welcoming our guests and employees back to our properties.”
When the furloughed employees have an opportunity to return to work, it might be under new ownership as reports have been circulating that Eldorado Resorts may be closing a $17.3 billion deal with Caesars come June.
Two Weeks Pay, PTO, and Health Care Premiums Paid
In an effort to help those employees who are being furloughed, the company will pay their first two weeks, at their current pay rate. Employees will then be able to utilize any paid time off after that check comes through.
For those employees who are under the Caesars health care plan, they will have their premiums covered until June 30, or until they return back to work.
Las Vegas Gaming Companies Who Are Paying Their Employees During Casinos Closures
Las Vegas Sands Founder, Chairman, and CEO Sheldon Adelson outlined his plans to pay his U.S. employees in a New York Post piece.
Adelson said that the company will be paying their 10,000 US employees, all of which who are out of work during this time, for the next two months. It’s an act of generosity and immense help for out-of-work employees, and Adelson is hoping other gaming executives will follow suit.
“The coming weeks will be tough, and the months that follow will be unsteady,” Adelson wrote. “To my fellow business leaders, let us lead by example.”
Wynn Resorts announced earlier this week that they would be paying their 15,000 workers in Las Vegas and Boston combined until May 15. Keeping employees on payroll allow their salaried, part-time, and hourly workers to receive two months-worth of wages from the date that Wynn properties closed.
Station Casinos announced that all hourly and salaried full-time workers will receive normal pay, as well as insurance benefits, until April 30.
Lastly, MGM Resorts will be utilizing its emergency relief fund to help their employees out during this challenging time. Currently, the fund has $4 million in it with gracious donation provided by the company, singer Bruno Mars, who has a Las Vegas residency this year, and Kirk Kerkorian, the estate of MGM founder.