Author: Vitaliy Dadalyan

MGM Resorts to Lay Off 18,000 Amid Slow Comeback for Casinos

(Bloomberg) -- MGM Resorts International is sending pink slips to about 18,000 employees, more than one-quarter of its pre-pandemic U.S. workforce, due to the slow recovery of some casino markets.The cuts, while centered in Las Vegas, are happening nationwide, the company said on Friday. MGM, the largest operator of casinos on the Las Vegas Strip, has been struggling to fill its rooms and casinos since Nevada began reopening in early June. Two of the company’s casinos, the Park MGM in Las Vegas and Empire City in New York, remain closed.“While we have safely resumed operations at many of our properties and have returned tens of thousands of our colleagues to work, our industry -- and country -- continues to be impacted by the pandemic, and we have not returned to full operating capacity,” Chief Executive Officer Bill Hornbuckle said in a memo to staff.The company will continue to pay health-care benefits...