COVID-19 Latest For Caesars Ent, Aristocrat, The Venetian

Caesars Entertainment has set up an aid fund to help its staff members who have endured unexpected challenges at the company’s assets around the US due to the latest health pandemic.

The employee assistance fund, called “Caesars Cares,” will be composed of donations from its board of directors and executives. It will be governed by Lifeboat, a public charity based in Louisiana, and will be managed and controlled by an autonomous board of directors including a representative of the Caesars.

The independent board will review applications for assistance to support members of Caesars’ team based on unusual difficulties resulting from the public health emergency COVID-19.

In addition to the assistance programme, the corporation has announced that contributions made to the Caesars Foundation will be used in the areas where it works to support groups addressing COVID-19 related issues.

Caesars Entertainment Chairman, Tony Rodio, said: “Company support, in the forms of extended pay, paid time off and uninterrupted, company-paid medical benefits through the earlier of employees’ return to work and June 30, 2020, for employees enrolled in company-sponsored health plans, as well as government assistance, will be a financial bridge for most of our furloughed employees until they return to work.

“However, some team members at our US properties may suffer other unexpected setbacks that require additional help. Caesars culture has always been based on caring for our people and our communities.

“Caesars Cares will be available to our workforce nationwide, and Caesars Foundation will support local charities engaged in fighting this public health emergency. These initiatives reinforce this caring tradition and are certainly appropriate in these challenging circumstances.”

Aristocrat Leisure has received additional updates on the measures that the company is taking to mitigate the COVID-19 impacts on its market.

The company stressed that the safety and well-being of workers, families, customers and suppliers remains its first priority. It helps over 99 per cent of Aristocrat’s global workforce to work from home.

It reported that since mid-March all of its land-based customers have been suspending operations, with reopening planned to be phased out.

Aristocrat’s reported that his balance sheet remains “solid,” with more than $1 billion in available liquidity being taken with “significant” operational measures to drive savings and maximise cash reserves.

CEO and managing director of Aristocrats Trevor Croker commented: “We are very sensitive to the impact of necessary cost reduction measures on our people, and will work hard to support them through this difficult time consistent with our ‘people first’ approach.

“We believe that these changes will help maximise opportunities for Aristocrat’s dedicated and talented people over the longer term. We will continue to do everything we can to restore momentum in our land-based business as quickly as possible recognising the importance of continuing to develop and deliver game content during this period.”

Inspired Entertainment has provided its lenders with an revised 13-week cash flow outlook reflecting an enhanced liquidity profile as opposed to an outlook previously issued.

Based on the April 24, 2020 predictions made available to borrowers, Inspired current forecasts show an available cash balance of £25.7 m, or $31.8 m, by July 17, 2020, assuming retail lockdowns continue for that time.

This is an improvement from a projected cash balance of £10.1 m, or $12.5 m, by July 31, 2020 based on preliminary estimates provided to borrowers on March 24, 2020.

Inspired’s executive chairman Lorne Weil stated: “As the impact of this pandemic continues to grow, we remain focused on the well-being of our employees, while taking the necessary steps to strengthen our financial flexibility, prioritise investments, and reduce our expenditures in this time of uncertainty.

“While it is impossible to predict how long this crisis will last, we believe these actions will help us to navigate this environment to ensure our Company’s long-term success.”

Guests wearing facemasks have been proclaimed by the Venetian Las Vegas Casino to be “welcomed” but “not required,” as it intends to reopen in June.

In their suites, guests will be greeted with “personal care” amenities fitted with disinfectants, and table games will have a maximum of three players, while the chips in play are cleaned every two hours. This forms a small portion of the 800 plus programmes and protocols to be carried out in the Clean Commitment of Veneto.

The Commitment reads: “The health and safety of our Team Members, our guests, and our community is our top priority,

“By closely monitoring industry and government guidance regarding the COVID-19 virus, including information supplied by the Southern Nevada Health District, Centers for Disease Control and Prevention and World Health Organisation, we have devised additional guidelines and procedures for sanitation and cleaning, with an emphasis on the prevention of virus transmission.”

Cameras will be in use at every resort entry level, providing both staff and visitors with “discreet and non-invasive temperature checks” Those with a temperature of 100.4 degrees F or greater would be subject to secondary screening.