Wynn Resorts’ Encore to close for 3 days a week due to low demand
Paradise, Nevada-headquartered casino operator Wynn Resorts Limited has confirmed that its Las Vegas gambling & entertainment property Encore will remain closed for three days a week due to weak demand. Announcing shutting down of the Encore for part of the week, the American casino giant said that the property would operate and welcome guests only from Thursday through Sunday. Since its reopening in June, following the Covid-19 pandemic, the property has been operating on a 24x7 basis, albeit at curtailed capacity.
The operator added that it decided to slash operating days for the property due to weak demand, and the property would continue to remain closed from Monday to Wednesday every week until consumer demand picks up.
It was not revealed immediately how many employees of the affected facility would suffer due to the decision, but the operator acknowledged that a fraction of the workforce could have to remain at home due to potential redundancy. Some estimates suggested that the closure would affected less than 4 per cent of the company’s workforce, but if the Encore is going to be shuttered for half of the week, other properties could also make such moves in the imminent future, paving way for more redundancies and furloughs.
When asked for a comment on potential redundancies, a spokesperson for the Wynn said, “We have not yet determined the number of employees who will be furloughed as a result of the reduction in operating hours.”
In September, more than five hundred Wynn employees have tested positive for the potentially lethal corona virus infection, discouraging many from visiting the company’s properties.
As a whole the Las Vegas Strip, which claims to be the world’s second most popular gambling hub behind China’s only legal gambling hub Macau, has witness a drastic decline in national and international tourists due to COVID-19 pandemic. The threat of the pandemic and various travel and border restrictions discouraged tourists from visiting the Sin City.
The Encore, just like many others, just has not shown the increase in footfall necessary to keep it open. Solutions to fix mid-week lull, like possibly a bullet train, has thus far been quite away from becoming a reality. Now, the Encore’s closure left many to wonder just how bad the current year is going to be for the already struggling casino industry.
United Kingdom News
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