-
Casinos for you
Caesars Entertainment Furloughs 90% of Staff
By Jeff Osienya Apr 06, 2020 Industry90% of Caesars Entertainment’s workforce has been forced to go on unpaid leave amid the Coronavirus crisis. More gaming companies are hitting a wall as governments try to control the spread of COVID-19.On Thursday, Caesars Entertainment announced that the company would be furloughing 90% of its employees across the United States. The gaming goliath is one of the hardest-hit companies in the face of mandatory COVID-19 shutdown orders of non-essential businesses currently in effect all over the country.
Caesars representatives released a statement indicating that they still don’t know when the company will reopen its doors again, but the closures will continue until at least 30th April. As a result, the company is switching to running with minimum load necessary to maintain their routine operations.
To defend their tough decision, Caesars CEO, Tony Rodio said how they are taking difficult but necessary steps to secure the current financial situation of the company together with its ability to recover when circumstances allow them to reconvene operations. This decision will affect the staff of its 36 business premises in the United States, complete with their administrative headquarters.
Sources also indicate that there is a possibility that the furloughed employees may come back under new management as Caesars is looking to close a $17.3 billion merger acquisition deal with Eldorado by the start of June. However, this merger acquisition, which would hand over the control of the company to Eldorado, still needs regulatory permission in the states of New Jersey, Nevada and Indiana.
According to Caesars’ statement, furloughed employees will continue to receive their paychecks for the next two weeks after the announcement. And on top of that, employees will still be eligible to use their standard paid time off after operations resume. Caesars also indicated that they would continue to pay health insurance premiums for the furloughed workers up to 30th June or the day they resume working, whichever comes first.
More Gaming Company Workers Forced to Go on Leave
Earlier that day, IGT Global Solutions Corp, also announced that the company would furlough about 2,300 of its employees in North America owing to the impact that COVID-19 has had on their business. Robert Vincent, IGT’s added that this would be an 8-week long furlough which becomes effective starting today, 6th April. The affected employees will, however, receive their health insurance and all other welfare benefits through the 8 weeks.
Unlike Caesars and IGT however, Sheldon Adelson, the founder and CEO of Las Vegas Sands, said that he would continue to pay his furloughed staff of about 10,000 workers for the next two months. Sheldon made his announcement on Wednesday and come Friday; the company management added that they would also continue paying the 1,200 employees currently working for their 14 third party restaurants. Likewise, hourly and casual personnel will also be getting their weekly income.
You might also like