Caesars Entertainment Corporation owns and operates over 50 properties across the world, with 10 of those mega-popular resorts in Las Vegas.
According to Caesars CEO Tony Rodio, the company will reopen its U.S. properties in a series of phases depending on the local response to the coronavirus pandemic in the properties respective cities.
Out of all its properties on the Las Vegas Strip, Rodio said Caesars Palace may be the first to open. The company will monitor the demand as Strip casinos reopen and determine whether or not they will open more properties to meet that demand. Caesars could reopen up to three or four of their Vegas properties at once, including Caesars Palace and possibly a “value property.”
Caesars will make the initial decision to reopen its properties nationwide based on guidance from applicable government agencies or tribal bodies. Based on demand and capacity, the company will then determine how many of its properties to reopen.
This is similar to how MGM Resorts International is planning to reopen its properties in Las Vegas. MGM plans on opening a couple of their 10 Strip properties first, and deciding where to go from there. The Bellagio and New-York New-York will likely open before the rest of the properties.
Caesars CEO Praises Governor for Reopening Approach
As heard in today’s first-quarter earnings call, Rodio showed his support to Gov. Sisolak’s for his phased reopening plan for Nevada, saying that he’s done a “fantastic job.”
Assuming things go well in Phase 1 of the Governor’s multi-faceted reopening plan, Rodio expects some Strip resorts to start welcoming back guests within the next few weeks. He was also surprised that Phase 1 came a week sooner than projected.
“The fact that he decided to open the phase one businesses, I didn’t expect that to happen until later in the month. If all goes well, knock wood, phase one could be about a two-week phase. If there’s not a spike, we could be looking at Strip openings later this month,” Rodio said.
Caesars Reopening Measures
According to a statement Rodio gave ahead of Monday’s earnings call, the company is implementing a series of new protocols that will prioritize the wellbeing of team members, guests, and communities by creating “environments with high standards of sanitization and physical distancing practices.”
Rodio advised that the company is working closely with public health authorities, gaming regulators, and infectious disease specialists in developing and designing their specific action plan.
As part of the reopening measures, Caesars will require all team members to wear a mask while working, with some team members asked to wear gloves, depending on their job role and in conjunction with local guidelines.
Guests won’t be required to wear a mask, but it will be encouraged.
Caesars also plans on providing on-site health screenings for employees, as well as a thorough training on COVID-19 cleaning and sanitization practices once employees return to work.
All Properties Will Implement Social Distancing Practices
Caesars properties nationwide will take social distancing measures seriously across gaming floors.
Their plans for facilitating social distancing guidelines include rearranging table games and slot machine spots. As far as non-gaming offerings, the company said those would reopen in phases with limited capacity. Those non-gaming offerings refer to restaurants and bars and entertainment.
Guest waiting areas will be marked on the floor for social distancing, such as check-in and taxi lines and elevator lobbies. Employee queues areas will also be marked, including break rooms and cafeterias.
Quarterly Call Summary
Due to the coronavirus pandemic, Caesars Entertainment Corp missed their quarterly revenue estimates this Monday, but it comes as no surprise as its properties have been shuttered nationwide.
The company explained that nearly all of its casinos worldwide have been shut down since March 17 because of the outbreak, resulting in an estimated daily cash burn of $9.3 million. The company has over $2.6 billion in liquidity as of March 31.
According to Rodio, the company has taken aggressive steps to strengthen its financial position. One of those aggressive steps was furloughing roughly 90% of its North American workforce.
Could Las Vegas visitors get to reenter Caesars Palace within the new few weeks? In measuring the current coronavirus situation in Clark County, that could very well be a reality soon.
Will you be visiting Caesars Palace or another Las Vegas property once it reopens? Let us know in the comments below. Be sure to check back for more coronavirus coverage in Las Vegas.