Coronavirus forces Wynn Resorts, MGM to close Vegas casinos
The properties will temporarily close on March 17
The coronavirus is throwing a wrench into the casino industry as medical professionals recommend social distancing.
Both Wynn Las Vegas and Encore along with MGM Resorts will temporarily close properties beginning Tuesday, March 17.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Wynn says its properties will close to the public at 6 pm, and then work to internally shut down operations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WYNN | WYNN RESORTS LTD. | 87.17 | +1.85 | +2.17% |
Reduced staff will work to keep buildings secure, others will work from home.
Wynn resorts is estimating a possible reopening by April 1, but will review the situation and make the next decision in 10 days.
"I know it may seem that we are undertaking this action early," said Matt Maddox, CEO Wynn Resorts. "Here is how I have thought about this: Nothing is more important than your safety and that of your family. You would personally do whatever is necessary to keep you and your loved ones safe. I have that same responsibility to you, and based on all the information I have, this is the right decision, right now."
CLICK HERE TO READ MORE ON FOX BUSINESS
All full-time Wynn employees will continue to receive their regular pay during the closure.
Properties owned by MGM Resorts will also suspend operations on Tuesday. This includes The Bellagio, MGM Grand, Mandalay Bay, The Mirage, Luxor, NY-NY, Excalibur and Park MG. They will not be taking reservations prior to May 1.
The following statement was released by Jim Murren, Chairman and CEO of MGM Resorts:
"Despite our commitment to dedicating additional resources for cleaning and promoting good health, while making difficult decisions to close certain aspects of our operations, it is now apparent that this is a public health crisis that requires major collective action if we are to slow its progression."