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 normal. Already, 20 properties in Oklahoma restarted, giving the rest of the states an example to follow. Specifically, two Nevada gaming giants, MGM Resorts and Wynn Entertainment, are planning to reopen on June 4, which coincides with the Silver State’s own plans to introduce a phased reopening of business.
With the governor and state authorities’ blessing, MGM Resorts International, owned by MGM China Holdings Ltd, confirmed on Wednesday that it is reopening a number of properties, including New York-New York, MGM Grand Las Vegas, Bellagio and The Signature. All properties are close or directly located on the Las Vegas Strip, making them the most prominent ones in the brand’s portfolio.
However, MGM Resorts cautioned that operating hours and capacity will vary from one venue to the next and all facilities will operate in accordance with state authorities’ health recommendations and MGM’s own seven-point plan to uphold patrons and staff safety on the premises.
Wynn Resorts Ltd., the parent company behind Wynn Macau Ltd., also released a statement on Wednesday, arguing that the company was prepared to welcome guests back and offer a “complete Las Vegas experience,” with all amenities available to visitors.
Wynn confirmed that both the hotel towers and casino located at Wynn Las Vegas will relaunch.
Not an Easy Start for the Casino Sector
The current developments are a silver lining for cash-starved casinos who have been on lockdown since mid-March. However, the restart won’t be easy at all, with the casinos having to rely on locals who are just as cash-strapped as the rest of the country.
As per Nevada Governor Steve Sisolak’s recent statement, Nevada will change its quarantine policy for visitors, changing it from the current mandatory 14-day quarantine to a yet unspecified measure. Originally, Sisolak only planned to have casinos closed between March 18 and April 30, but he then extended the closure order through May 31 as COVID-19 fatalities in the United States kept climbing up.
Meanwhile, both Wynn Resorts and MGM Resorts have issued health and safety plans on how to restart operation without endangering the health of those in attendance. The planned measures pertain to ventilation and air conditioning as well as the overall air quality, regular temperature checks for guests, and mandatory face masks for staff members.
MGM Resorts will subject employees to massive testing before returning back to work. The company has already got in touch with the University Medical Center, the Culinary Health Fund, and the Las Vegas Convention Center to help set-up the company’s mass-screening and testing initiative.
However, if Macau has taught the rest of the world any lessons, that is that even after reopening things will be slow to pick up. Research and analytics firm Moody’s published a report in April in which it outlined a slow return to casino visitors and said that the gaming industry was going to suffer 60% to 70% slump in EBITDA in the 12 months through March 2021.