Las Vegas Casinos may have reopened to soon for Covid-19. The outlook for the Las Vegas Tourist Business, and the Meeting and Convention Business,, is bleak for the remainder of 2020.
In addition Las Vegas is one of 11 cities now being urged to take “aggressive” steps to mitigate their Covid-19 outbreaks. Clark County has been reporting more than 1,000 daily outbreaks for the last week. The Covid-19 pandemic is causing Las Vegas Strip properties to cut back on mid-week services. This is resulting in casino workers being furloughed and projecting layoffs later this year.
Circus Circus plans to permanently lay off 252 employees on Sept. 1.The Strip property, had started furloughs, permanent layoffs and reduced hours for 2,074 employees on March 17, according to a letter dated June 30. These actions “have continued and will continue” through the first of September. The notices comply with the Worker Adjustment and Retraining Notification Act, which is meant to ensure employees have notice before significant layoffs so they have time to find work elsewhere..
The Sands was the first Las Vegas-based casino operator to report second-quarter earnings. Sands’ Venetian and Palazzo resorts were closed for more than two-thirds of the quarter that ended June 30, reopening June 4.
Las Vegas Sands Corp. offered a gloomy near-term forecast of the company’s Las Vegas business — the meetings and conventions industry — when they reported second-quarter earnings.
The Las Vegas-based company’s net revenue plunged 97.1 percent in the second quarter to $98 million compared with $3.334 billion in the same quarter a year ago, and the casino company showed net losses amid the Covid-19 pandemic.
Wynn Resorts Ltd. is set to place workers on furlough, effective this week, and shut down some operations on weekdays.
An unknown number of employees at Wynn Resorts Ltd., the parent company of Wynn Las Vegas, will face a second round of furloughs Wynn didn’t reveal how many employees in Vegas will go on furlough.
Tropicana, which plans to reopen on September 1, said it will lay off 620 employees beginning October 15 over a 14-day period, according to CDC Gaming Reports. The company filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the Nevada Department of Employment on July 3 forewarning of the layoffs.
Las Vegas MGM Resorts and Caesars Properties are facing similar bleak pictures for 2020…