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Caesars Entertainment First to Bring Back Large-Scale Las Vegas Shows, With the Return of "Absinthe"

By Eric Volkman – Oct 12, 2020 at 7:16PM

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But the audiences will be far smaller because of health and safety measures.

In an effort to shore up a revenue base that has withered from the coronavirus pandemic, Caesars Entertainment (CZR) is bringing back its popular Absinthe live variety show.

As it did before the outbreak-related shutdowns came into force, Absinthe will be performed at the company's flagship Caesars Palace resort on the Strip in Las Vegas. Its first return performance will be on Wednesday, Oct. 28.

According to the show's producer, Spiegelworld's Ross Mollison, distancing standards will be maintained for the audience. The venue where it is performed, the Spiegeltent, will have a maximum of 153 guests seated at tables at least six feet apart. The usual capacity is 660 audience members, seated in folding chairs.

The Spiegeltent, venue for Las Vegas' Absinthe show.

Image source: Getty Images.

Mollison also promises that all audience members will be screened with non-contact temperature checks before entry, and they will be required to wear face masks. The venue will also be cleaned and sanitized before and after every show. 

"This is the start of a very important process. It's incumbent upon us to do a great job, so we can see the return of our colleagues' shows as well as our own shows," the Las Vegas Review-Journal quoted Mollison as saying.

Casino resort operators, whose business depends on crowded and often tightly packed casino floors, were hit in the early stages of the outbreak and have yet to fully recover. Many are eager to fully restart as many aspects of their business as possible to stem revenue erosion.

No estimates were provided as to how the relaunch of Absinthe might affect Caesars Entertainment's finances.

Nevertheless, investors were cheered by the news. The company's stock closed by just over 3% higher on Monday, trouncing the gains of the S&P 500 index.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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