Churchill Downs Furloughs Casino and Racetrack Employees From 10 Locations
Churchill Downs, Inc. (NASDAQ: CHDN) announced this week that it intends to furlough its employees from ten of its locations, including both racetracks and casinos. Though the furlough is intended to be temporary, the workers will receive no pay during the period. The press release announcing the cost-cutting measure says it is being taken in response to a government shutdown of the venues to help prevent the spread of COVID-19 coronavirus.
The furloughed workers will continue to receive insurance coverage from Churchill Downs, with health insurance, vision, dental, and life insurance plans maintained to "limit the impact" of the furlough. The affected casinos include the Calder, Harlow's, Lady Luck Nemacolin, Ocean Downs, Oxford, Presque Isle Downs, and Riverwalk casinos, plus Fair Grounds Slots in New Orleans and Derby City Gaming. One racetrack, Arlington International Racecourse, is also included.
Image source: Churchill Downs.
Source Fool.com
