MGM Resorts International is one of the biggest and most profitable casino companies in the world. Not long ago, company officials announced a new set of health regulations inside their properties. Moving forward, all new employees at MGM Resorts will need to provide proof of vaccination.
This rule took some by surprise. MGM Resorts is one of the first major casino operators to require its employees to get vaccinated. This is done in response to the growing number of Covid-19 cases around the country.
Here’s a quick look at what is happening with this company.
New Employees at MGM Resorts Need to Show Covid-19 Vaccination
The past two years have been interesting for all major US casino companies, to say the least. 2020 brought about massive revenue drops for casino operators around the country. Things have turned around in 2021, though, and most of the country’s casino companies are reporting record-breaking revenue figures.
Recently, the new Delta variant has caused a spike in Covid-19 cases around the United States. This has led certain health officials in different states to order intense new regulations toward casinos. Some felt this would lead to another major drop in tourism and revenue to gambling hubs.
It seems that many casino companies are working to take safety measures into their own hands. MGM Resorts International was one of the companies to start implementing new measures. Moving forward, all employees at MGM Resorts will need to provide proof of vaccination.
This measure has officially taken effect. All hourly and salaried employees need to provide their vaccine certificate before being able to work inside any of the company’s casinos. Las Vegas attorney Craig Mueller spoke to the media about this situation and claims that MGM is likely able to prove this is necessary in case legal battles arise.
“They’re going to be dealing with a large number of the public,” he said. “If the public is scared witless, and they won’t come unless they know everyone has been vaccinated, they’ve got a pretty good argument that they can do that.”
MGM Resorts’ Revenue Numbers Continue to Impress
The events that unfolded throughout 2020 took a devastating toll on MGM Resorts International. This company was not alone experiencing major revenue drops, though. It is also not the only one to see sharp rises in casino revenue throughout 2021.
The American Gaming Association claims that gambling revenue is set to break an all-time record this year. The success of companies such as MGM Resorts International has helped to accomplish this goal. The year’s second quarter proved to be one of the best in history for MGM Resorts.
This company’s revenue increased by 683% in Q2 when compared to Q1. Net revenue of $2.3 billion was reported over April, May, and June. Consolidated operating income came out to $264 million over the same time period. Much of this surge is due to the massive spike in tourism rates to Las Vegas over the summer.
It seems likely that 2021’s third quarter will be even more successful. Gambling revenue in Las Vegas just broke another record last July. Based on the current trend, this will be the best year in history for MGM Resorts and other companies like it.
We will be sure to report on MGM Resorts’ revenue figures as the months go on. Stay tuned for updates!
Will Casinos Order More Restrictions Soon?
The past eight months have been fantastic for the US casino industry. Last year proved how vulnerable the country’s casino companies really are, though. It only takes one decision from state leaders to devastate this industry.
Some analysts question whether or not more intense health restrictions will be ordered over the next few months. Covid-19 cases continue to steadily rise around the country. New health regulations are appearing in different states around the US.
The casinos in Las Vegas are now ordering all patrons to wear masks. Fortunately, this does not appear to be taking a toll on tourism into Las Vegas. Additional restrictions could end up devastating the gambling venues here, though.
Casino executives will be putting pressure on state leaders to avoid ordering more restrictions. Doing so, they will argue, will set their industry back years.
Are you surprised to hear that employees at MGM Resorts are now required to be vaccinated? Will other casino companies order the same measure? Let us know in the comments section below!