Wynn Resorts, who have their hopeful eye on a Memorial Day Weekend reopening, says they will likely reopen their Strip resorts at the same time once casino restrictions are lifted.
According to Wynn Resorts CEO, Matt Maddox, the reopening of both of its Las Vegas properties will be consciously done at a limited capacity and in response to what looks like a “pent-up demand in the leisure segment.”
“Clearly, we won’t be opening large mass gathering places — nightclubs or convention areas or shows…but we will be opening most of our restaurants, and we’ll be working with our retail partners to try to have an experience that will be safe and fun,” Maddox assured.
Company officials say that the two properties will need to reach an occupancy rate of 50-60% to break even.
Wynn Provides Full-Pay to Employees Through May 31
The company recently announced that they will be extended pay coverage and benefits to all of its salaried, hourly, and part-time employees in Las Vegas through May 31. Wynn Resorts employs nearly 15,000 in Las Vegas.
With the extension of pay coverage, in total, the company will cover a total of 75 days of employee payroll.
Wynn Resorts has also recently partnered with University Medical Center (UMC) in Las Vegas to provide staff with free COVID-19 testing, which will begin next Monday.
Strip Casinos Likely to Have Staggered Re-openings
Even when Strip casinos do get the green light to finally reopen, it’s likely they won’t all reopen at once.
MGM Resorts International executives recently discussed which of their 10 Strip properties they’ll likely reopen first, and believe the Bellagio and New York-New York will be their best bets as they target different traveler’s budgets.
Late May Opening Possible
In the company’s Wednesday earnings call, Maddox said a reopening in May could be a possibility with Nevada’s phases reopening plan. Beginning this Saturday, May 9, Nevada will move into Phase 1 of reopening, which means the reopening of retail stores, restaurants, barbershops, hair salons, and nail salons at 50% occupancy.
Maddox added that casino’s reopening would depend on the state hitting its public health benchmarks as indicated in the Governor’s reopening plan, which was announced April 21.
It’s still unsure what the Strip reopening looks like, whether less than 10 properties will open at once to test the waters, or whether they’ll all want to jump back into business. It will really just depend on the state of the outbreak at that time and visitor’s confidence in traveling to Las Vegas.
Be sure to check back for more coronavirus updates in Las Vegas.