Will the Casino's be honest.

I've wondered once the the re-opening has gone on for a while, will the Casino's report on their employees catching the Virus.  I'm thinking they will cover it up!

Originally posted by: Rocky Kollmeyer

I've wondered once the the re-opening has gone on for a while, will the Casino's report on their employees catching the Virus.  I'm thinking they will cover it up!


Nope, this is why Mitch McConnell is pushing for a nationwide liability shield. That way casinos and other big businesses can treat their customers and employees like mushrooms and face no recourse for doing so.

 

But... it is actually the employees that are more at risk from the patrons not observing safety protocols.

 

The Republicans are apparently going to get that liability shield; furthermore, they're going to get a drastic reduction in unemployment benefits. Otherwise, they'll stall the bill indefinitely or Trump will veto it. That's the problem with a Republican-controlled Senate.

 

The idea is to force people to go back to work, even if in unsafe conditions, and get Trump reelected. We can't forget that that has been the sole goal of Republicans all along. They have only approved coronavirus aid because it would be political death to oppose it. And Trump only wants it because his polling numbers would go to the sub-basement if he blocked it.

Originally posted by: Rocky Kollmeyer

I've wondered once the the re-opening has gone on for a while, will the Casino's report on their employees catching the Virus.  I'm thinking they will cover it up!


To answer your question: absolutely not. The reality is that the opening up of casinos has already caused hundreds of deaths--we just haven't seen them yet. Some employees will sicken and die. Some of their friends and loved ones will sicken and die. It's inevitable, given that a casino is an almost perfect breeding ground for coronavirus infections--despite all the employees wiping down the slot machines, etc.

 

So in order to cover up the fact that the casinos did something stupid and deadly, they simply won't inform us of what's happening to their employees. As far as I know, they're not required to.


I'm in several casinos every week.  I' ll ask some of the dealers and staff.

Originally posted by: cjen

I'm in several casinos every week.  I' ll ask some of the dealers and staff.


I wouldn't. If they're overheard telling you the truth, they might get fired.

 

I also wouldn't endanger casino staff by going there. The dealers in particular aren't well protected. They're being forced to work because in Nevada, the casinos ARE the government, and they want to resume bleeding America dry. Concerns over the health of casino workers are strictly secondary.

 

BTW, almost every major casino group had well over a year's worth of cash reserves on hand as of March, so it's not like they had to open up or they would have disappeared. They should have just kept on paying their employees, and kept them on the payroll so they could continue to get health insurance.

Kevin lies again. 

For example, Caesars on 12/31's balance sheet had $1.8b in cash. In 2019 caesars had over $8b in expenses. 

So the $1.8b was the equivalent of about 3 months of expenses. 

El Dorado Resorts is in the process of acquiring Caesars for about $8.5 billion in cash and shares.

Caesars operates casinos with the Harrah's and Horseshoe brands. Eldorado owns 26 properties in 12 US states. The combined company will retain the Caesars name and own, operate and manage 60 casino-resorts across 16 states. 

 

Ref: BBC

This was Published

 

The report by Macquaire Research estimates that casino companies will be able to survive between 5.2 and 14.3 months before having to file for bankruptcy protection.

MGM Resorts International is among the highest spenders, having $14.4 million cash depletion per day and according to its last reported reserves, the company would survive for 9 months at that rate of cash burn.

Boyd Gaming Corp will survive 9.4 months as it is spending $3.2 million per day.

Penn National Gaming is using $6.4 million of its cash daily and at that rate will survive just 5.2 months before running out of cash and filing for bankruptcy.

Red Rock Resorts is burning $1.7 million daily and will last 13.8 months.

Golden Entertainment, even with less cash depletion per day, $1 million, has cash reserves for 10.4 months.

Other casino operators, Century Casinos, Monarch Casino & Resort, and Full House Resorts, will need much less cash than their bigger competitors, between $200,000 and $300,000 per day, and will last between 5.8 and 14.3 months with no revenue.

 

https://www.gamblingnews.com/news/casinos-burn-millions-per-day-depleting-cash-reserves/

 

By Bailey Schulz    Las Vegas Review-Journal
June 26, 2020 - 3:43 am
 
Updated June 30, 2020 - 10:34 am

Last week, at least nine employees on the Las Vegas Strip tested positive for COVID-19, prompting a mix of responses from companies.

Some immediately shut down the venue where the employee worked. Others kept operations going, and declined to share information, such as which department the worker had staffed.

Every hotel-casino that discovers a positive COVID-19 test among its staff must contact the Southern Nevada Health District. It’s up to each casino operator and health district to determine what to do, if anything, after that.

Full Story:  https://www.reviewjournal.com/business/casinos-gaming/what-happens-when-a-casino-employee-tests-positive-it-varies-2061431/

Contact tracing is meaningless when tests take a week or more to come back. The casinos are never going to be forthcoming about covid-19 infections among their employees or customers.

 

https://www.reviewjournal.com/business/casinos-gaming/what-happens-when-a-casino-employee-tests-positive-it-varies-2061431/

Tom, Tom, Tom, you really don't understand finance, do you?

 

The casinos' expenses during a shutdown are MUCH less than normal. No employees. Much smaller power bill. Lower liability insurance payments. Et cetera. Et cetera. Et cetera.

 

And Tom---just to give you a lesson in Acting Like a Decent Human Being 101--when someone makes a statement you feel is inaccurate, you can express your disagreement without saying nasty shit like "Kevin lies again."

 

You get a pathetically huge number of things wrong, but I don't call you a liar for it. When your mom said it was Tuesday but it was really Wednesday, did you call her a liar? (Actually, maybe...)

Edited on Jul 25, 2020 11:26am
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