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Casino
May 28, 2020
Wynn and MGM Vow to Reopen Properties on June 4 in Nevada
With Nevada’s phased reopening plans pushing ahead, Wynn Resorts Ltd. and MGM Resorts confirmed on Wednesday that their Nevada properties will restart operation on June 4. Wynn and MGM Confirm Reopening Date for June 4 With the world reshaped completely by the COVID-19 outbreak, the gambling industry is preparing to go back to the new […]
Casino
May 15, 2020
Massachusetts Regulator Extends Closure, State Casinos to Re-Open Last
The Massachusetts Gaming Commission unanimously voted Wednesday to extend casino closures to the three state casinos, pushing a potential re-opening date to June 1, mainly following the guidance from St. Gov. Charlie Baker, but casino operators in Massachusetts may not be in a hurry to re-open for business. Gloomy Picture Ahead Representatives of the three […]
Casino
May 11, 2020
LVS May be Considering the Acquisition of Wynn Resorts, Analysts Suggest
Las Vegas Sands (LVS) may be looking to acquire Wynn Resorts, an analysis by a boutique investment bank and advisory firm for the gaming industry suggests. Union Gaming LLC, in a note published Thursday overnight, cited Okada Manila in the Philippines, Australia-based Crown Resorts, and Wynn Resorts, all three as potential acquisition targets for the […]
Casino
May 7, 2020
Wynn Resorts Revenues Materially Impacted by Casino Closures
Wynn Resorts issued today its first quarter financial results, posting 42.3% drop in operating revenues, due to the closure of its properties, in February in Macau, and from mid-March in the USA. Revenue Impact Material First quarter revenue for the company fell to $953.7 million, from $1.65 billion for Q1 2019, nearly $700 million less, […]
Casino
April 26, 2020
Gaming Regulator in Massachusetts Turns to Macau Experience for Re-Opening of Casinos
Massachusetts Gaming Commission started researching in detail what the process of re-opening the state casinos would require in terms of safety measures, based on the experience from casino-operating companies in Macau. Closure Period Not Over Yet Casinos in Massachusetts have been shut since St. Gov. Charlie Baker has issued his order March 15, to close […]
Casino
April 23, 2020
Casinos in Nevada Remain Closed, Reopening Plan Announced
Casinos in Nevada will remain closed. The government has announced a plan for the reopening of businesses. The Stay at Home Oder is Active since March 17 Nevada’s Governor Steve Sisolak issued the stay-at-home order on March 17. The order effectively closed all non-essential businesses, including casinos. The stay at home order was then further […]
Business
April 8, 2020
Wynn Spends $3.5M a Day to Keep Employees in COVID-19 Outbreak
The novel coronavirus (COVID-19) pandemic has brought the majority of casino operations to a halt in the United States, putting unprecedented pressure on business. However, Wynn Resorts has decided to keep on paying its 15,000 employees through May 15. The company is spending $3.5 million a day to meet this pledge. Wynn Resorts Continues to […]
Business
April 3, 2020
All US Wynn Resort’s Employees to Receive Payment till May 15
Amid the ongoing COVID-19 pandemic in the US, while Nevada extends the stay-at-home order, Wynn Resorts is taking action to help the company’s employees. Growing COVID-19 Pandemic Keeps Casinos Closed till End of April Wednesday, 1st of April – Nevada Gov. Steve Sisolak announced the extending of the stay-at-home order through April. The order being […]
Casino
January 28, 2020
Casinos’ Stock Continues to Fall as China Battles Coronavirus
The deadly new strain of pneumonia known as coronavirus has already claimed the lives of 106 people and counting. Amid the spread of the disease, casino companies have also suffered from a historic drop in visitations to Macau and share price decline. Coronavirus’ Spreading Causes Casino Shares to Fall Again Amid China’s efforts to contain […]
Casino
January 24, 2020
Coronavirus Prompts Macau to Issue Warnings to Casino Operators
As Macau continues to monitor the coronavirus outbreak, U.S. operators who own properties in the gaming hub have said they will be willing to shut down their operations temporarily to help fight the spread of the pathogen. Operators Ready to Shut Down in Macau to Curb Threat of Coronavirus Several U.S. casino operators have confirmed […]