Boyd will continue to pay full and part-time employees through April 10

Boyd Gaming will continue to pay full- and part-time employees into early April, according to a letter from the company’s CEO.

In a message to workers Friday, Boyd President and CEO Keith Smith said employees will be paid and receive benefits through April 10. The Las Vegas-based gaming company closed all 29 of its properties in 10 states nationwide earlier this month in compliance with orders from state and local officials aimed at preventing the spread of COVID-19. The firm also closed Lattner Entertainment, its slot route operation in Illinois, and Vacations Hawaii, Boyd's Honolulu-based charter service.

“These are clearly unprecedented times for our company and our country,” Smith said in the letter, as reported by Las Vegas Sun. “This is a highly fluid situation, and it is too early to determine at what point we may be able to resume operations at each property.”

Boyd has about 25,000 employees nationwide and about 10,000 in Las Vegas, where it has a dozen casinos. When the casino shutdowns began, Boyd employees were told they would be paid for two weeks, partially through the use of PTO (paid time off) hours.

Under the new directive, employees will not have to use additional PTO, but must be available to come back to work to possibly perform essential duties or to ready a property to reopen, Smith said. He added that employees' existing benefits coverage will also continue through this period.

“I know that these are uncertain and stressful times,” Smith said. “We will reopen for business as soon as state officials agree that is safe to do so. For now, please stay focused on your highest priority — keeping yourself, your family and your community safe and healthy.”

Boyd Gaming Corporation recently suspended dividend in an effort to preserve cash and maintain ample liquidity in case of a possible financial crisis triggered by the coronavirus outbreak. The company has also withdrawn adjusted EBITDAR guidance, and it said it will also not provide any guidance, until further notice.

Shares of the company have tanked 49.4% in the past three months, compared with the industry’s decline of 44.3%.