Are 2,000 jobs possible in a “high paying” casino?
Let’s do the math. We will estimate this on the very low side: John gets a job and works 29 hours a week, so the employer can avoid paying full-time benefits. The employer will also give him two weeks of unpaid vacation per year; 29 hours multiplied by 50 weeks equals 1,450 hours of work per year for John.
We use the wage rate of $ 12 per hour multiplied by 1,450 and see that John earns $ 17,400 per year gross. Both John and his spouse who work this way, with two children, would qualify for reduced-price school meals and earn about $ 800 too much a year to qualify for free school meals. A week or two of no work and they will qualify for free meals in this scenario. So much for “well paid”.
Now let’s determine the payroll: 2,000 staff members on a payroll of $ 17,400 each give us an annual payroll of $ 34,800,000. Remember we don’t include employer taxes or other employee costs, just 2,000 employees working 29 hours a week. For one year. $ 34 million.
Now for revenue: $ 34 million divided over 365 days a year. We need $ 95,342 per day in revenue just to cover this basic payroll. Remember that there must also be ADDITIONAL revenues to cover OPERATING COSTS: profit for owners, other labor costs, taxes, insurance, food costs, facility payments, utilities, and a huge list of other operating costs.