Friday, April 24, 2020 | 1:51 p.m.
Caesars Entertainment today announced a new employee assistance fund to help employees suffering hardships because of the coronavirus crisis.
The Caesars Cares Fund will be supported by contributions from members of the company’s board of directors and some executives, according to a company news release.
About 90% of the company’s U.S. workforce has been furloughed as a result of shuttered resort properties in response to the COVID-19 outbreak.
Caesars has about 60,000 employees around the world, about half of them in Las Vegas.
In Nevada, Gov. Steve Sisolak in mid-March ordered all casinos closed for 30 days, later extending the shutdown until at least Thursday.
Caesars CEO Tony Rodio said other support — government benefits, personal paid time off and continued health insurance for some employees — have helped form a financial bridge for furloughed workers until they can return to their jobs. The new fund will further those efforts, he said.
“Some team members at our U.S. properties may suffer other unexpected setbacks that require additional help,” Rodio said.
The fund will be administered by Lifeboat Inc., a Louisiana-based charity, and will be managed by an independent board of directors.
Caesars employees will be able to apply for fund benefits, and the board will evaluate applications based on “unusual hardships arising from the COVID-19 public health emergency.”
