Louisiana Casinos Face Financial Trouble Over Coronavirus
Louisiana casinos are in the midst of economic woes because of huge financial losses caused by the coronavirus. According to the states leading newspaper the Lafayette daily newspaper, there are over five casinos retrenching employees. The casinos filed notices for over 3500 employees with the worker’s adjustment and retraining notification.
The worst part is this is the second wave of retrenchments with the very first wave happening in May. These are all the casinos planning on retrenching.
- L’Auberge Hotel and Casino in Baton Rogue
- L’Auberge Hotel and Casino in Lake Charles
- Penn National Gaming
- The Fifth Cyprus Bayou
This means all the employees for these casino employees have to make other employment plans.
According to the casino managing director, none of this is actually random. But after the many months of lockdown and closed economy; everyone could see it coming.
Unfortunately, the casino industry is only one of many affected by the lockdown. Casinos were almost the last businesses to open. Entertainment facilities and arenas are generally a high-risk area. The reopening of these Louisiana casinos was supposed to salvage what is left of the financial year. However, unfortunately, there has been too much damage done. The casinos will lay off almost 10 per cent of their current staff.
The Future of Casinos in Louisiana
The business has been under huge strain because of the lockdown. Currently, the reopening of the casino is also limiting. Because of strict government regulations for businesses that are operational. Casinos require their patrons to keep social distancing measures. As a result, the casinos cannot operate on full capacity. This further stresses business revenue.
The layoffs are happening despite legislature offering tax relief tax and gambling credit for casinos. Just two weeks ago, a bill passed to give casinos business relief. However, it comes a little too late for many employees of the Louisiana casinos.
Follow us for the latest gambling news.
- A Man in Nevada is Charged with Entering A Casino Without A Mask July 7, 2020
- Sports Bettors Want to Make Their Wagers From Home July 1, 2020
- All The Reasons Why Playing at an Online Casino is Better June 30, 2020
- Nevada Businesses Now Enforcing New Statewide Mask Policies June 30, 2020
- UK Casino Industry is Frustrated at Government June 26, 2020