Caesars furloughs 90% of staff amid Covid-19 lockdown

Caesars has furloughed 90% of its employees as part of a temporary shutdown of its casinos following the Covid-19 outbreak in the US.

The decision follows the closure of all its land-based casino properties in March.

“Given the uncertain duration of the property closures throughout the network, Caesars is temporarily moving to the minimum workforce needed to maintain basic operations,” the company confirmed in a statement.

Caesars currently employs 70,000 individuals across its various business arms. It is unknown whether Caesars Interactive staff are affected.

Caesars CEO Tony Rodio said the firm had taken “difficult but necessary steps” to protect its financial position and its ability to recover the business when the US-wide lockdown ends.

“The company entered this crisis with strong operating performance, which, combined with the steps we are taking now, are critical to the future of our company,” Rodio said.

Caesars will pay employees for the first two weeks of the closure period with employees having the ability to use available paid leave after that.

Individuals enrolled in the firm’s health benefit plans are covered for 100% of health insurance premiums through to June 30 or their prospective return to work, whichever comes sooner.

Caesars’ UK business was hit with a $16m regulatory fine from the UK Gambling Commission yesterday for failures relating to social responsibility and anti-money laundering practices relating to several VIP customers.