Back in November of 2019, the Cosmopolitan Las Vegas announced that it was suing San Jose Sharks player Evander Kane for failing to pay back $500,000 in gambling markers. It now appears this lawsuit is ending. The Cosmopolitan has confirmed that it’s dropping charges against Kane this week.
This isn’t the first time a casino has asked for its money back. Today, we’re going to look at the details of this case. We’ll also talk about some of the other measures that the Cosmopolitan is taking right now.
Let’s get into it!
Las Vegas Remains Shut Down Due to Covid-19
Over the past month, we’ve covered the progression of the new coronavirus. It’s now spread to hundreds of thousands of individuals around the country and many have lost their lives. Some cities are being impacted more than others.
New York is the worst hit in terms of overall cases. This state now has more cases than any country in the world. Extreme social distancing measures set in place here seem to be having a positive effect, yet death rates are continuing to rise here.
Other states including New Jersey and Michigan are seeing their infection rates surge, as well. Lawmakers in these areas are working to change this trend. It’s unclear when the stay-at-home orders set in place here will be lifted.
Las Vegas is still seeing relatively low rates of infection, yet the city is taking a major toll economically. The entire gambling industry here is completely shut down. Governor Sisolak recently extended this casino shutdown. Not even the top officials here can accurately say when the city will get back to normal.
Casino companies here are doing everything they can right now. Many of them are losing millions of dollars every single day. The mayor of Las Vegas has told the Governor that things cannot remain the way they are. This week, one of the biggest casinos here decided to drop an ongoing lawsuit.
Cosmopolitan Las Vegas is No Longer Suing NHL Player
As most are well-aware, many casinos in Las Vegas will offer casino credit to certain players. Occasionally, these players fail to pay back the money they lose. According to officials at the Cosmopolitan, this is what happened with NHL player Evander Kane.
This casino claims to have offered the San Jose Sharks player $500,000 in casino markers. He is said to have taken out eight credits of varying amounts in mid-April of 2019. It’s being alleged he never attempted to pay back the losses.
The Cosmopolitan Las Vegas then decided to press charges. They asked for the money back as well as legal fees. Since November, there has been little coverage of this lawsuit and some feel it was already settled.
It’s now being reported that the casino has dropped this lawsuit. Whether or not the case was settled out of court is still unknown. Some believe the effect of the coronavirus has pushed the Cosmopolitan to take this route.
Lawrence Semenza, an attorney at the Cosmopolitan, claims the lawsuit may still be brought up again in the future. We have not received a statement from Kane. We’ll need to see whether or not this is brought up again over the next few weeks.
More Workers Are Furloughed at Cosmopolitan
The Cosmopolitan Las Vegas is one of the biggest and most lucrative casino-resorts on the Las Vegas Strip. This property cost billions of dollars to construct and, unsurprisingly, costs a huge amount of money to operate. Unfortunately, the coronavirus is taking a serious toll on this property.
It’s clear that this casino-resort is bleeding money right now. As a result, the owners are doing everything they can to cut costs. According to new reports, Cosmopolitan has decided to furlough a huge number of its employees.
“As a result of the continued impact of the COVID-19 pandemic and Governor Sisolak’s extension of the resort closure mandate through April 30, 2020, we have had to make the very difficult decision to reduce staffing and furlough employees,” the casino said in a statement.
As we’ve already mentioned, it’s unclear when Las Vegas will get back to normal. State officials continue to set new regulations. Some analysts feel it may be more than a year before the Strip is back to the way it was earlier this year.
How this will affect casino companies here is still unknown. Much of it depends on the ability of health officials to form a vaccine.
Stay tuned for more Las Vegas casino news over the next few weeks!