Wynn Resorts Pays Employees Despite Casino Closure Due to Coronavirus
It is the Wild West in Nevada when it comes to provision for tens of thousands of hourly employees. Las Vegas Sands, the owner of The Venetian and the Palazzo, said it will pay its employees without having put a time limit on how long. MGM Resorts also said it will be paying its furloughed labours for two weeks. However, it has laid off many. Caesars Entertainment mentioned that it has had to furlough labours since its properties were well-ordered to shut.
Maddox pointed out the loyalty move of continuing to pay workers produces in employees. “We have been known as the best venue in Las Vegas for service, and experience”. Employees should be happy to be at work, because if they’re happy, players will be happy, so is our shareholders too.”
Even though Wynn Resorts committed to pay its employees, counting tipped and hourly employees, the commitment is only for 30 days. “We have a runway, nonetheless every day we’re thinking about where and how we can save money,” Maddox said.
Maddox asked directors and executives to switch salaries for stock to preserve money as he has done.
He said- “We should be able to borrow money to pay salaries and wages of our line-level staff and healthcare benefits. And then, once we’re reopened and out of this, we should pay it back.”
And if there’s hope, Maddox points to the “Get Back to Work” message in China. Nearly all staffs are back on the job at Wynn’s properties in Macao.
Even though ferries are not running, tourist visas are also not yet being issued and visitation is ten percent of what it was before. There is really an emotional shift with the economy having fallen. However, a sense of optimism is there to show that they have made it through.
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