Wynn Resorts and MGM Close Casinos in Las Vegas Due to Covid-19 Pandemic Crisis

29.03.2020, 18:48

The leading Nevada enterprises, Wynn Resorts and MGM Resorts International, decided to shut down their properties on March 17 due to the fast spread of coronavirus. The decision has affected casino facilities and hotels in Las Végas.

On Sunday, March 15, Wynn Resorts (WYNN) affirmed the end of the temporary closure of property in Las Vegas «as a major aspect of limiting the circulation of the Covid—19 virus,» cited CNN.

Those limitations began at 6 p.m. on Tuesday, March 17. They ought to go on for about fourteen days. From that point forward, the organization shall choose the next steps of such measures.

The pioneers of the gambling clubs and hotels declared on Sunday, March 15, that they would revive in about fourteen days.

A short time later, MGM Resorts International, another club administrator, affirmed eight facilities — including Bellagio and Mirage — would be shut also.

One of the guests at Mirage had a positive COVID—19 test result last week. Just a few days later, the coronavirus was detected in a number of MGM workers as well.

“This is a moment of chaos for our nation and the rest of the world, and we will all do everything best to avoid the outbreak,” said Jim Murren, Head of MGM Resorts, adding that the resorts are expected to reopen «as long as everything is safe. We must help our employees and visitors.”

“We will need to do our best to avoid the dissemination of this virus«, Murren added.

MGM shares went down 13.2% on Monday, March 16, on the trading market. The price of Wynn shares has gone down by 10.3%. The capital of both companies fell by more than 50% in the last month.

Here is a list of several properties that have been closed in Las Vegas:

• Aria
• Mandalay Bay
• Mirage
• Bellagio
• Delano
• Signature at MGM Grand
• Vdara
• Excalibur
• MGM Grand
• NoMad

Afterward, on March 18, Steve Sisolak (the legislative leader of the American state Nevada, where the well—known gaming city of Las Vegas is found) ordered the closure of all public enterprises in Nevada: bars, cafés, sports centers, and all entertainment organizations within its domain. In this way, the legislator wants to prevent the coronavirus from spreading.

«Today, it is clear that additional measures must be taken to slow down the spread of this deadly virus in our state,» Associated Press quoted Sisolak. He noted that entertainment facilities would be suspended for 30 days.

«I have announced that all slot machines will be shut down by midnight,» the governor wrote on his Twitter following his conference on March 18.

In consultation with Gaming Control Board Chair Sandra Douglass-Morgan, I announced that all gaming machines, devices, tables, games, & equipment will be shut down effective at midnight. Restaurants & bars located within gaming properties will be subject to the same restrictions.

— Governor Sisolak (@GovSisolak) March 18, 2020

In Nevada, over 50 cases of infections of coronavirus were reported according to AP.

All entertainment services, including casinos, restaurants, theatres, health centers, and shopping malls — as well as transmissions- must be suspended in the State of Nevada in the United States for 30 days to avoid the spread of the coronavirus. As it is noted, all institutions stopped working at noon on March 18.

That is an extremely new case in modern human history. 25 November 1963 was the first and last time the casinos closed in Las Vegas, which was made after the assassination of President John Kennedy.

Earlier it was reported that all states in the U.S. had recorded cases of COVID—19. West Virginia was the last state to detect COVID—19. A total of 100 people have died in the country.

Earlier in February, the authorities of Chinese Macau — one of the world’s largest gambling centers- had also closed all the casinos in the city due to the epidemiological situation in the country.

The statement by Mayor Ho Yia Seong came after ten confirmed cases of coronavirus (Covid—19) were reported in a former Portuguese colony. Also, the situation has placed restrictions on visitors from China — therefore, there were fewer and fewer gamblers visiting the casino in Macau.

Residents of the city were advised to wear masks when traveling around the city, and it is best to stay at home.

Latest data on Coronavirus distribution and victims provided by SCMP

The National Health Commission of China claims there are 80,967 confirmed cases of the illness. The number of people infected worldwide has exceeded 233,700 (according to SCMP).

The World Health Organization claimed 16,556, new cases of the disease were confirmed worldwide per day. More than 87 thousand people were infected in the European region. A total of 9839 people died (according to SCMP data).

Due to the current situation with the virus, the World Health Organization has announced the status of the coronavirus pandemic. In most countries of the world, there is a restriction on mass events; Europe (a new dangerous outbreak of the virus) is closing borders and reducing air traffic. Schools and public organizations are switching to remote work.

Compared to previous outbreaks, the coronavirus is likely to have a deeper economic impact on China due to the fact that the Chinese economy has grown substantially, and its ties with the United States have deepened. In 2003, when the pneumonia epidemic began, China’s GDP was $1.6 trillion, and today it exceeds $13 trillion.

Starbucks confirmed the closing of over 50% of its coffee shops in mainland China due to the coronavirus epidemic. The factories are also closed down by many businesses. For instance, an H&M retailer has shut down at least 45 stores and stopped all business trips to and from China. In mainland China, IKEA has closed half of its 30 outlets. The nearby Coca—Cola factories have also been hit by this outbreak.

Coronavirus strikes a massive blow to the economies of countries around the world. Most economists agree that the world is facing a huge crisis, from which only companies with the highest resistance to market movements and the ability to work on—line will recover. We follow the situation. The data is changing every hour.