Jim Cramer: I Think Casinos Can Reopen Based on Wynn CEO's Plan
Las Vegas remains quiet as millions of Americans have been ordered to stay inside to prevent the spread of the coronavirus.
However, that also means that places--such as casinos, etc.--have been forced to shutter and layoff or furlough millions of Americans.
In fact, a whopping 26 million Americans have now filed for unemployment.
Wynn CEO Matt Maddox penned an Op-Ed for The Nevada Independent to break down his plan for reopening Las Vegas.
Here's what he suggests:
1. The governor’s appointed Task Force should be focused on COVID- 19 testing capabilities and safely reopening the economy.
2. Reopen parts of the local Nevada economy in early May. Begin with reduced occupancy, physical distancing measures in place, temperature checks and no large gatherings. We all need to wear a mask. Wearing a mask is uncomfortable; however, it will allow our economy to reopen faster.
3. Follow the data provided by a team of modeling experts tracking benchmarks based on the following criteria:
a. Increases in COVID-19 testing velocity.
b. Hospitalizations and deaths per million should not exceed the national average over any sustained period.
c. Hospital critical care bed availability should be reserved based on a ratio of current COVID-19 patients in the event of a spike.
d. Full transparent data should be public, web-based and accessible to anyone.
4. Assuming in mid- to late-May we are still in line with the benchmarks, slowly begin to reopen the Las Vegas Strip with extensive safety measures in place.
5. Monitor the data every day. If we need to, marginally pull back or move forward.
Watch the full video above for Jim Cramer's full take.
Want to know what Jim Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.
Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Here's how you can recap his entire April show.
Watch More of the Latest Videos on TheStreet and Jim Cramer
- Webinar Preview: Expert Advice on Wealth Planning for Turbulent Markets
- Retirement Daily: Self-Employed? Here's How to Save Up to $62,000 a Year for Retirement
- Sallie Krawcheck: During the Coronavirus Pandemic, Should You Lower the Amount Allocated to Your 401k?
- Jim Cramer: Apple Is Still an 'Own, Don't Trade' Stock
- Jim Cramer's 5 Books to Read During the Coronavirus Pandemic