Plaza Hotel Continues to Feel the Recession

Gambling seemed to be a recession-proof industry, but casinos were hit the hardest when the recession reached its peak. Even now, a year after the global financial crisis came to its end, Las Vegas casinos are still seeing the dire effects.

Today, it was announced that the Plaza Casino and Hotel will be making 400 layoffs over the next 60 days. It will also be closing its hotel section and portions of its casino floor in November to cut operating costs.

Representatives for the Plaza Hotel state that the closures and layoffs have been made only in preparation for renovations. However, industry insiders believe that the recession is the reason fueling these cutbacks.

The increasing number of casinos in the city has pushed the Plaza to the wayside, and the casino has failed to stay competitive. It is hoped that the cutbacks will allow the operator to continue maintain its momentum.

The “minimizing operations” will begin in early November. It is believed that this tactic will not significantly change the casino’s operations.

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