An ominous new message from Las Vegas Sands says the parent company of the Venetian and Palazzo will continue to pay its employees through at least October 31 as the coronavirus pandemic continues and gaming revenue slumps.
The note, written by Sands chairman and CEO Sheldon Adelson and posted on Facebook, says that the company will pay benefits as well even as business demands decline amid the pandemic.
The news comes as the state Gaming Control Board releases new gaming numbers that show a 45.5 percent decline in revenues in June compared to last year. CDC Gaming Report notes that April gaming numbers were down 99.6 percent and May numbers were 99.4 percent lower than last year.
Big conventions such as the Consumer Electronics Show in January and Global Gaming Expo in October already canceled and opted to go virtual instead, leaving restaurants and resorts without much-needed business tourism dollars in the coming months.
Last week, an unknown number of employees at Wynn Resorts Ltd., the parent company of Wynn Las Vegas, found out they face a second round of furloughs while more than 870 employees at Circus Circus and the Tropicana are expected to be laid off in September and October. The week before, Boyd Gaming said it laid off 25 percent of its staff.
Gov. Steve Sisolak shut down casinos for 78 days to prevent the spread of COVID-19 starting on March 17. Sands paid its employees throughout the shutdown. Casinos reopened statewide on June 4.
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