winstar world casino military discount(Image: Elizabeth Page Brumley/Las Vegas Review-Journal)In a letter to employees, Gaughan explains the furloughs are indefinite. Macau is too dependent on gaming money, putting its economy at risk, says Fitch. “As a result, Fitch expects Macau to experience a much deeper economic contraction in 2020 than other ‘AA’ rated peers whose economies are less dependent on tourism.”The lone Chinese territory where gambling is legal depends on gamigolden nugget vegas casino hostsng and related tourism to drive roughly 80 percent of annual government receipts, putting it in a tenuous spot at a time when analysts and operators have little visibility regarding when business will return to pre-virus levels.Significant ShrinkageWith gross gaming revenue (GGR) already tumbling and widely expected to post one of the worst annual performances on record this year, Macau’s economy will shrink for a second consecutive year. cool cat casino usaThe casino is one of the few non-union properties in Las Vegas. “At the same time, Macau remains susceptible to potential changes in China’s broader policy environment.”South Point workers have been home for nearly a month, and now they won’t be paid by the casino resort. location table roulette casino

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intertops casino red instant playSouth Point Hotel, Casino & Spa in Las Vegas is furloughing its 2,200 workers effective May 3, owner Michael Gaughan saying the decision is in their best interests. “Macau’s overwhelming dependence on gaming tourism constitutes one of its principal rating constraints. Only New York has more coronavirus cases.New Jersey Gov. free online 5 card poker no downloadSouth Point workers have been home for nearly a month, and now they won’t be paid by the casino resort. “At the same time, Macau remains susceptible to potential changes in China’s broader policy environment.”806 positive COVID-19 tests as of Tuesday morning, the disease cited for 4,377 deaths in the Garden State. hard rock casino northern indiana gary in 46406

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jamul casino opening dateThe casino is one of the few non-union properties in Las Vegas. With license renewal discussions expected to commence later this year, operators are unlikely to lay off workers, although many are bleeding millions of dollars per day just to keep casinos open for a sparse number of gamblers.Some Good NewsFitch echoes the sentiment that Macau GGR could bounce back next year, while highlighting the SAR’s strong fiscal position, which includes no debt.“Fitch expects fiscal buffers to remain considerable in the medium term. Phil Murphy, Atlantic City Mayor Marty Small Sr. With no concrete timetable as to when the property located south of the Strip on Las Vegas Boulevard might reopen, he claims the decision makes the most financial sense for workers.“As a result of the ongoing impact of the COVID-19 pandemic and the resort closure mandate through April 30, 2020 by Governor Sisolak, we have had to golden nugget vegas casino hostsmake a very difficult decision to furlough most of our employees for an indefinite period beginning on May 3, 2020,” a statement explained.In a letter to employees, Gaughan added, “By being furloughed, you will be better off. As gaming cash dries up and visitation to the Special Administrative Region (SAR) remains scant, Macau is vulnerable to significant economic turbulence due to its dependence on casino revenue, says Fitch Ratings. South Point workers have been home for nearly a month, and now they won’t be paid by the casino resort. bovada online casino app