Caesars Entertainment Corp., with all its North America properties temporarily closed due to COVID-19, announced Thursday it expects to furlough approximately 90 percent of its employees. The furlough will impact employees at its domestic owned properties as well as corporate staff.
As part of its efforts to support its employees, Caesars has been paying furloughed employees for the first two weeks of the closure period—it announced March 17 it would be closing its owned North American properties. For furloughed employees enrolled in Caesars’ health benefit plans, the company is paying 100 percent of health insurance premiums through June 30 or their return to work, whichever comes sooner. Those individuals who are furloughed will remain employees of the company throughout the furlough period.
“Given the closure of our properties, we are taking difficult but necessary steps to protect the company’s financial position and its ability to recover when circumstances allow us to reopen and begin welcoming our guests and employees back to our properties,” Tony Rodio, CEO of Caesars, said in a statement. “The company entered this crisis with strong operating performance, which, combined with the steps we are taking now, are critical to the future of our company.”