- All commercial casinos and sportsbooks in the U.S. were ordered to close to prevent the spreading of COVID-19.
- Boyd Gaming Corporation has announced a furlough on its employees during the closure of their properties.
- Boyd Gaming Corporation runs 29 gaming locations in 10 different states.
LAS VEGAS — Boyd Gaming Corporation has taken a huge step in trying to limit a financial hole they might fall in with the closure of casinos throughout the country.
They have announced a furlough on non-essential employees which will go into effect later this week.
Boyd Gaming Corporation Furlough
Due to the coronavirus pandemic, all casinos and sportsbooks were ordered to close their doors in order to help prevent spreading the virus.
With that, Boyd Gaming Corporation has done something unfortunate but necessary in order to minimize the financial impact from the forced closures.
They have announced that they will place their non-essential employees on an unpaid furlough which is set to begin on April 11. The initiative is similar to one enacted by IGT last week.
The only employees that will be paid will be their executive leadership team who are taking pay deductions as well. The furlough is expected to last until either June 30 or until the re-openings of casinos and sportsbooks.
“This is by far the most difficult decision we have ever made— We care deeply about the well-being of our team members, which is why we maintained full pay and benefits through April 10. Implementing furloughs was a last resort for us, but a necessary step to protect our Company, especially given the current lack of visibility regarding property re-openings— As a result of these difficult but necessary actions, we are confident Boyd Gaming will have sufficient liquidity and resources to sustain itself until we are able to re-open for business— We will continue to carefully review our operations and expenditures during the closure period and make additional adjustments as necessary,” said Keith Smith, President and Chief Executive of Boyd Gaming Corporation.
Boyd Gaming Corporation is doing this throughout their entire company. They run a large number of legal sports betting venues and casinos throughout 10 different states in the U.S.
Samuel has been writing professionally for 4 years. He comes from a sports writing background where he enjoys writing mostly about basketball and football both professional and collegiate. He is a recent graduate of Florida State University where he majored in Editing, Writing and Media with a minor in Communications. During his free time, you can find him watching or playing sports as well as playing videogames and listening to music.