Caesars News: CZR Stock Plunges 18% on Coronavirus Impacts

CZR is laying off employees

Caesars (NASDAQ:CZR) news for Tuesday concerning impacts of the coronavirus from China has CZR stock falling.

Caesars News: CZR Stock Plunges 18% on Coronavirus Impacts
Source: Jason Patrick Ross/

The Caesars news includes the company laying off employees at its locations. This was shared by an anonymous employee that was laid off. The employee said that the layoffs are due to “unforeseeable business circumstance.”

This news comes as Caesars starts to close down some of its restaurant locations. It will also potentially be temporarily shutting down other locations as the coronavirus continues to spread throughout the U.S.

The Caesars news about layoffs doesn’t come at the demand of the Nevada government. Gov. Steve Sisolak hasn’t required casinos to close their doors in the face of the coronavirus. Instead, he is allowing each operator to make that decision for themselves, reports Las Vegas Review-Journal.

While Caesars and other casinos aren’t going to have to shut down for the coronavirus, other businesses aren’t so lucky. Orders from governors in several other states have them forcing businesses to close their doors in light of the virus.

Ohio is one of the states that it taking the most extreme measures to limit the spread of coronavirus. The state has called off voting for the presidential primaries and is among the states that are forcing restaurants to cease operations.

All of these drastic efforts are taking place as cases of the coronavirus in the U.S. jump to 5,010. There have also been a total of 87 deaths from the virus, reports CNN.

CZR stock was down 18.44% as of Tuesday afternoon.

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