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Casino Closures - Employee Impact

Discussion in 'Casino Industry & Development' started by Count de Monet, Apr 3, 2020.

  1. Bo333

    Bo333 VIP Whale

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    I gamble so much at the same tables that I feel like the dealers are my friends. (I text with a few of them when I'm not in Vegas and they want to share some info I might be interested in.)
    I feel so bad for them. MGM was just starting to improve their working conditions when this all went down.
     
  2. dmr

    dmr Registered Abuser

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    Strictly intuitive, no numbers to back this up, but I might infer from this one (of many, of course) data point as to the general fiscal health of the organizations, with Shelley's company doing comparatively well, followed by Stations, Sahara with CET (edit: Eldorado? What are they calling the company this week?) as so-so and Cosmo and Boyd somewhat (or very) shaky.
     
    Last edited: Apr 5, 2020
  3. Flowers

    Flowers VIP Whale

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    Encore is still part of the WYNN corporation. It's still publicly traded as WYNN. The name never changed and I wouldn't expect it to do so.

    Edited to add: And to your point, I don't know why but I happened to check the condition of the stock of most of these companies and what the general consensus of analysts was, the P/E, etc. SANDS, RELATIVELY speaking, I recall, seemed okay as did WYNN in some respects though the WYNN stock took a bit hit on Friday.
     
    Last edited: Apr 5, 2020
    Celebrating Life & My Birthday In a Different But Special Way
  4. dmr

    dmr Registered Abuser

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    Duh! I meant Eldorado. Maybe I'm going prematurely blonde in the isolation? (I do know that my true color is showing.) :( :(
     
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  5. Flowers

    Flowers VIP Whale

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    My weekend has been like that @dmr. LOL. I recall Eldorado and CZR still being listed separately but yes, I guess that might change at some point.
     
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  6. azbob

    azbob Low-Roller

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    Boyd's really works hard at giving customers a reason not to show up in their properties.
     
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  7. Hyperfocal

    Hyperfocal VIP Whale

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    I was really surprised that Sheldon Adelson really stepped up. Given that he was the first to implement 000 roulette, I figured he would say, good luck and leave people to their own devices. Glad to see he's treating his employees right.

    Cosmo is owned by a private equity company and I doubt they care about anything except the bottom line.
     
  8. Sonya

    Sonya Queen of VMB

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    I'm hearing reports about Stations Casinos doing better for their employees than some of the bigger players. I'm not entirely sure what their policies are, outside what they publish on https://www.stationcasinosinfo.com/ They seem to get left out of a lot of these conversations about what Wynn and Sands are doing.
     
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  9. luck.ofthe.draw

    luck.ofthe.draw VIP Whale

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    This has been the same for a tribal casino I worked at in San Diego. :)
     
  10. Armadillo Al

    Armadillo Al Tourist

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    Adelson is worth, if Google is to be believed, $28 billion. To put that in perspective, if you were to divide it evenly amongst the Las Vegas Sands's 51,500 (if Wikipedia is to be believed) employees, each one would get $543,689 (before taxes).

    He can definitely afford to foot the bill for their wages for a good length of time.
     
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  11. Sonya

    Sonya Queen of VMB

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    Couple of announcements on this topic came out today.

    Cosmo is furloughing all employees, effective April 17.

    IMG_20200408_150943.jpg

    Boyd doing the same, effective April 11.

    IMG_20200408_151149.jpg

    Stations says they will continue to pay workers through May 15th.

    IMG_20200408_161637.jpg
     
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  12. Coppertop Tester

    Coppertop Tester Tourist

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    A friend of mine who works at Sunset Station said the employees are off until the end of May, but they were only guaranteed pay until the end of April. I'm glad to see that it was extended two more weeks.
     
  13. VinVegas

    VinVegas Tourist

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    I am a casino employee on the east coast who has survived 3 rounds of furloughs at my company so far (who knows how long I have left). I normally stay at Cosmo but i will be switching to Wynn for future visits. Obviously this issue is close to home for me and it's important for me to support the gaming companies that are standing by their employees. Stay safe everyone!
     
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  14. Sonya

    Sonya Queen of VMB

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    El Dorado expect to furlough employees tomorrow:
    https://www.cdcgamingreports.com/regional-casino-operator-eldorado-resorts-to-furlough-employees-on-saturday/
     
  15. 44inarow

    44inarow VIP Whale

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    In some instances, employees even within the same property get inconsistent communications, depending on their department.
     
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