Wynn Resorts has been testing staff members at a rate of 500-600 people tested per week to determine if members of the staff have been infected. So far, 300 people have tested positive for the novel coronavirus with nearly the whole work force undergoing a test.
Wynn Tests Staff Members for Novel Coronavirus Infection
Wynn Resorts has initiated mass testing of its employee base, encompassing some 17,000 members of the staff so far. That constitutes 98% of the work force employed under the Wynn banner. Some 300 workers have tested positive for the novel coronavirus since Wynn rolled in mandatory testing procedures. The procedure includes 500 to 600 random tests conducted weekly in a bid to try and establish infections if one is available.
The news came on Tuesday and were part of the company’s Q2, 2020 report. Wynn Resorts CEO Matt Maddox assured that 99% of the employees had been infected out of the company’s facilities, citing information provided by contact tracers.
Maddox said that Wynn Resorts’ priority remained the safety and health of team members. To this end, he was in constant touch with the Georgetown university head of global and health security and pandemic research.
In Maddox words, he met with the person weekly to ensure that the casino is complying with health measures and staying ahead of the pandemic. Maddox did mention last week that Wynn Resorts is “probably the safest place outside of home” that employees and customers could go.
When’s Wynn’s Business Operations Going to Restart?
Put under a lot of strain, hospitality and gaming companies have been trying to weather the crisis as best as they could. Many have resorted to furloughs and outright layoffs.
Meanwhile, Wynn Las Vegas and Encore Wynn Las Vegas have been brought back up in June after Governor Steve Sisolak allowed casinos to reopen. Wynn has booked estimated 4,000 reservations every day, but these numbers have come crashing with COVID-19 cases spiking, and bookings falling by 24% by July 4.
According to Wynn, the reason for the sudden drop was the increased rate of infections in Arizona and California, and some lawmakers suggesting quarantine for those arriving from certain states.
Wynn’s properties outside of Las Vegas have done fairly well. The Encore Boston Harbor in Massachusetts opened doors in mid-July, complying with reduced capacity, health, and safety measures. Wynn’s also been hopeful to see a return of border gaming, with China and Macau negotiating a special traveling regime for mainland gamers who can finally travel to the special administrative region and play.
The Financial Outlook Any Good?
Understandably, Wynn was affected badly by the lockdown which wrote off 95% of its revenue year-over-year (YOY) in the second quarter. There have been massive shutdowns, limited traveling and a full lockdown with people not allowed to go to most public places.
Over the quarter, Wynn said it had suffered a net loss worth $638 million. Wynn couldn’t hold on to its massive work force either, having to let some people go. Wynn paid all 30,000 workers throughout May but it was forced to furlough many people in July, and all throughout the pandemic.
At the end of June, Wynn said it would furlough 3,000 employees at the Encore Boston. The only hospitality company to have truly fought for its staff is Las Vegas Sands Corp., controlled by casino mogul Sheldon Adelson.