Twin River has notified the Rhode Island labor officials that it could be laying off a total of 1,300 employees next month .
According to Twin River spokeswoman Patti Doyle, the company filed a layoff notice with the State Department of Labor and Training last August 11th. Doyle clarified that 1,043 furloughs in Lincoln, and another 296 in Tiverton are set to become permanent at the end of next month.
Doyle added that the workers who are facing layoff are currently furloughed by the company and they continue to receive health insurance benefits. She added that the number of workers let go could still change, depending on the on the business conditions at that time.
Numbers Could Still Change
In a call with analysts, Twin River CEO George Papanier revealed that the company tried to bring back as many employees as possible after the coronavirus pandemic forced the closure of their establishments. However, he said that with the current restrictions they are faced with since reopening, they don’t know how many will ultimately be brought back. Said Papanier:
“While we have been able to welcome back a large percentage of those affected, there are still a large number of employees affected on furlough while we await the ability to increase capacity and amenities.”
Last August 11th, Twin River reported a $24M second quarter loss as a result of the casinos being forced to shutdown in March due to the coronavirus pandemic and also by the decreased capacity it has operated with since they were allowed to reopen.
Rhode Island Slow to Recover
However, CEO Papanier said that Twin River is pleased with the results they have seen since they were allowed to reopen in June. Out of their $24M Q2 loss, only $2M came in the month of June and the initial figures for the month of July were encouraging for a return to profitability. Added Papanier:
“While we continue to be willing to spend money to capture market share and drive revenue, we don’t expect to simply return to the old way of doing business. We believe many of the efficiencies we have realized are sustainable over the long term and will result in improved profitability for our properties even while increased sanitation and cleaning costs become the norm.”
Business in the South and West casinos of Twin River have picked up faster than their Rhode Island flagship with states like Colorado and Mississippi faster to ease COVID-19 health restrictions. However, Twin River Rhode Island President of Operations Marc Crisafulli is optimistic because he hopes that they will be allowed to return to 24-hour operations in the coming weeks.