Coronavirus hits Las Vegas: Wynn Resorts, MGM to temporarily close Vegas properties

Zack Guzman
·Senior Writer
Updated ·2 min read
LAS VEGAS - SEPTEMBER 09: Wynn Las Vegas signage in Las Vegas, Nevada on September 9, 2017. (Photo By Raymond Boyd/Getty Images)
Wynn Resorts became the first Las Vegas giant to announce a temporary shutdown due to coronavirus. (Photo By Raymond Boyd/Getty Images)

Las Vegas giant Wynn Resorts (WYNN) announced Sunday that it is temporarily closing its Wynn Las Vegas and Encore properties for two weeks beginning March 17 to prevent the spread of the coronavirus. MGM Resorts followed suit shortly after, announcing the company would be suspending operations as well.

Wynn said it’s committed to pay all full-time Wynn and Encore employees during the closure in a statement provided to Yahoo Finance.

“The closure will be effective Tuesday, March 17 at 6 pm [PT] and is expected to be in effect for two weeks, after which time the Company will evaluate the situation,” a statement from the company said. “A limited number of employees and management will remain at the resort to secure and maintain the facility.”

MGM’s announcement did not provide a timeline for when it would resume operations, but did specify it would not be taking reservations for arrivals prior to May 1.

FILE - This June 17, 2014 file photo shows the Wynn Las Vegas and Encore resorts in Las Vegas, both owned and operated by Wynn Resorts. Women’s rights advocates and business experts say Wynn Resorts has taken laudable steps to transform a culture that allowed sexual misconduct complaints against its founder to remain hidden for decades. But the experts say the company’s new controls leave some room for improvement in light of changes made by other companies in the #MeToo era. The Massachusetts Gaming Commission is hosting public hearings this week examining the company’s response to the allegations. (AP Photo/John Locher, File)
Wynn Las Vegas and Encore resorts in Las Vegas, both owned and operated by Wynn Resorts. (AP Photo/John Locher, File)

On Sunday, the Centers for Disease Control and Prevention (CDC) announced it was intensifying its social distancing guidelines to recommend that gatherings of 50 people or more be canceled or postponed across the U.S.

Wynn was previously hit by the spread of coronavirus in China as the casino operator was forced to suspend operations in Macau for two weeks. Wynn shares have fallen 45% in the past month. MGM shares are down more than 50% over the same time period.

Zack Guzman is the host of YFi PM as well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.

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