Coronavirus won't stop Wynn Resorts CEO from paying workers despite closings
The CEO of Wynn Resorts sends employees a lifeline amid coronavirus closings
Wynn Resorts, like other casinos, may be closed due to the coronavirus outbreak but CEO Matt Maddox is standing by his 15,000 employees.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WYNN | WYNN RESORTS LTD. | 90.74 | -2.23 | -2.40% |
In a memo obtained by FOX Business, Maddox informed employees in Las Vegas and the newly opened Encore Boston Harbor property that they'd be paid full wages, including tips, despite the closings.
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Payroll coverage for the next 30 days will include all current Wynn and Encore employees. For tipped employees, it will include your average tip compliance rate or distributed tips/tokes since the beginning of the year...
Memo From Matt Maddox Re Ne... by FOX Business on Scribd
In a video message, he also emphasized and urged the importance of social distancing and introduced Dr. Rebecca Katz, head of Health Security and Pandemic Research at Georgetown University. Katz has been advising the casino on the outbreak globally.
Wynn was an early pioneer in Macau, China, a major casino hub.
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Including the families of Wynn employees the company is covering closer to 50,000 individuals, Maddox noted.