Caesars CEO: Company had best 2 months before coronavirus impact
Caesars Entertainment Corp. had possibly its best two months in the history of the company in January and February, according to CEO Tony Rodio.
Then everything changed in March.
As of March 25, all U.S. commercial casinos have shuttered to help curb the spread of the new coronavirus. The mandated casino shutdown in Nevada, which was originally set to run through April 16, has since been extended through April 30.
In turn, Caesars announced last week that it has furloughed about 90 percent of its employees at its domestic-owned properties, as well as corporate staff.
In a video posted to YouTube on Monday, Rodio said he’s not sure when Caesars’ properties will be able to reopen but is confident the company will be able to “hit the ground running.”
“I think it will be a slow ramp, but I’m confident that our company will do as well as anybody in the industry,” he said.
Caesars hasn’t yet released first-quarter earnings, but Rodio said it was “off to a fantastic start” before the virus hit.
Just over one month later, he said February feels like ancient history.
“This is a stressful time for our workers around the country,” Rodio said. “Please know that we are prepared to do whatever it takes to reopen when appropriate in a way that prioritizes not only your health, but the health of our guests.”
In the meantime, Rodio urged employees to stay at home and avoid large groups and said he would continue to provide updates to team members.
Overall, the CEO said, he remains optimistic that the company would “get through this quickly and emerge stronger than before.”
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.