Caesars News: CZR shares plunge 18% on Coronavirus effects

<p>Caesar’s (NASDAQ: CZR) news for Tuesday about the effects of coronavirus from China has CZR stocks fallen.

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Caesars News includes the company that is laying off employees at its locations. This was shared by an anonymous employee who was fired. The employee said the layoffs were due to “unpredictable business conditions.”

This news comes when Caesars starts closing some of its restaurant locations. It will also potentially be temporarily shut down in other locations as coronavirus continues to spread throughout the United States.

Caesar’s news of layoffs does not come at the request of the Nevada government. Gov. Steve Sisolak has not demanded that casinos close their doors to the coronavirus. Instead, he allows each operator to make the decision himself, reports the Las Vegas Review-Journal.

Caesars and other casinos do not need to be shut down for coronavirus, but other companies are not so happy. Orders from governors in several other states are forcing them to close their doors in the face of the virus.

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

All of these drastic efforts are underway when coronavirus cases in the United States jump to 5,010. There have also been a total of 87 deaths from the virus, CNN reports.

The CZR share fell 18.44% as of Tuesday afternoon.