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Thursday, June 18, 2020

COVID-19 case at Bellagio a test for the industry

The Mayfair Supper Club at Bellagio is closed after a kitchen employee tested positive for COVID-19.
“We will be sanitizing the work area and determining who they may have come in contact with for both tracing and testing,” notes Bellagio operator MGM Resorts (NYSE:MGM). Guests at the Bellagio are being offered an on-site COVID-19 test if they experience any symptoms.
While the positive COVID test could end up being insignificant, the need for the casino-resort to close the restaurant for a period of time is an indication of some the challenges facing the casino industry. Will bookings and traffic be impacted as positive tests crop up or will it be part of the new normal until a vaccine is available?
Bellagio is owned by The Blackstone Group (NYSE:BX) and run by MGM.
Sector watch: Caesars Entertainment (NASDAQ:CZR), Boyd Gaming (NYSE:BYD), Wynn Resorts (WYNN +0.8%), Las Vegas Sands (NYSE:LVS), Full House Resorts (NASDAQ:FLL), Red Rock Resorts (NASDAQ:RRR), Vici Properties (NYSE:VICI), MGM Growth Properties (NYSE:MGP), Golden Entertainment (NASDAQ:GDEN), Scientific Games (NASDAQ:SGMS), Twin River Worldwide (NYSE:TRWH), Eldorado Resorts (NASDAQ:ERI), Monarch Casinos & Resort (NASDAQ:MCRI), Penn National Gaming (NASDAQ:PENN), Century Casinos (NASDAQ:CNTY), Churchill Downs (NASDAQ:CHDN).
https://seekingalpha.com/news/3584154-covidminus-19-case-bellagio-test-for-industry

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