Las Vegas' Resorts World Reportedly Contemplates Job Cuts for Around 400 Workers
The troubled Resorts World Las Vegas is facing a rocky road ahead. After a hefty $10.5m fine for anti-money laundering compliance failures and lackluster visitor numbers, things could get even rougher if the whispers about impending layoffs of around 400 employees are accurate.
Such turmoil might not be surprising given recent events and the need for a new executive team following mismanagement. The Nevada Gaming Control Board's orders, following the fine, add to the uncertainty.
The property, which only recently opened its doors in June 2021 after a whopping $4.3bn construction tab, has been under scrutiny. Many folks chimed in on Vital Vegas' post, offering their insights on the facility's struggles:
Others suspect this trend will extend to other Las Vegas properties this year. Take MGM Resorts International, for instance, rumored to be shedding workers at the Excalibur and aiming to offload the Luxor Hotel and Casino. There were also murmurs about CEO Bill Hornbuckle's imminent departure.
The steep fine and regulatory issues have caused a 21% revenue drop in Q4 2024 and subsequent staff redundancies. To turn things around, the property has undergone a leadership overhaul, including a new CEO, Alex Dixon, and a board restructuring featuring former MGM CEO Jim Murren. The Nevada Gaming Control Board has issued warnings about potential further disciplinary action if federal violations surface.
The revitalization plan includes strengthened compliance measures, improved staff training, and revised anti-money laundering systems. While sources don't explicitly mention staff reductions at other Las Vegas properties like Excalibur, the Nevada Gaming Commission has emphasized that the RWLV case serves as a "wake-up call" for all Strip properties to strictly adhere to regulations. The full impact on other casinos' staffing remains unclear, but compliance-related restructuring could become more prevalent if similar violations are discovered elsewhere.
In a separate incident, Donaco-owned Star Vegas in Cambodia suffered a 28.7% year-on-year revenue decline in Q1 2025, a warning sign for the VIP gaming segment. Nonetheless, this struggle doesn't directly reflect Las Vegas-specific workforce trends.
- The troubled Resorts World Las Vegas may face more challenges ahead, as reports suggest layoffs of around 400 employees.
- Mismanagement within the past executive team has contributed to Resorts World's troubles, necessitating a change in leadership.
- The fine of $10.5 million for anti-money laundering compliance failures has had a significant impact on the casino's finances, causing a 21% revenue drop in Q4 2024.
- The business and banking-and-insurance sectors are watching closely as Resorts World repairs its reputation, with potential layoffs and leadership changes affecting careers in the casino-and-gambling industry.
- Despite the challenges at Resorts World, other Las Vegas casinos like MGM Resorts International are also facing layoffs and potential changes to their executive teams.
- The casino-culture in Las Vegas, particularly at properties like the Excalibur and Luxor Hotel and Casino, might be affected by these changes as the industry seeks to tighten compliance measures.
- The Nevada Gaming Control Board has issued warnings to all Strip properties to ensure they adhere strictly to regulations following the case of Resorts World Las Vegas, potentially leading to more compliance-related restructuring across the casino-and-gambling industry.
