Unconfirmed rumors have surfaced on social media, claiming that Caesars Entertainment is planning to lay off a significant number of workers this week. Vital Vegas, a Las Vegas-based news source that is typically on point when it comes to Sin City news, reported the speculation on X:
Visitor numbers are on the decline in Las Vegas, where Caesars operates Caesars Palace, Paris Las Vegas, and Planet Hollywood, among other casinos. Visitor figures slumped for a fifth consecutive month year-on-year in May. Many insiders have blamed the hefty resort fees, food and beverage prices, and parking charges for this drop. Overseas travel is also falling, with many people uneasy about the actions of President Donald Trump’s administration.
other major casino companies have made moves this year to reduce their workforce
Other major casino companies have made moves this year to reduce their workforce. MGM Resorts International let go of or reassigned about 34 people working in concierge services at its Las Vegas properties in April. Other properties to trim their workforce include Resorts World Las Vegas, Fontainebleau, and The Venetian.
While Caesars Entertainment isn’t set to report its Q2 earnings until July 29, analysts still expect strong bottom-line growth. Its share price jumped 6.5% on Thursday and it’s up 13% for the past month after a tumultuous start to the year.
VegasSlotsOnline News has reached out to Ceasars Entertainment for comment on the rumors.
