The handshake has endured for millennia. It has ended wars, sealed deals that have built economies, and forged alliances that have changed the course of history.

The state Board of Regents approved cuts for the Nevada System of Higher Education on Friday that could save $125 million in spending but bring additional student fees and faculty furloughs.

The Board of Regents approved a proposal for sweeping reductions Friday that would cut between $68 and $124 million from the Nevada System of Higher Education budget amid the most drastic crunch to hit state revenues since the 2008 financial crisis.

The economic downturn caused by the new coronavirus could force the Nevada System of Higher Education to make $124 million in budget cuts under a worst-case scenario, leading to increased fees for students and furloughs for staff.

During a Tuesday morning meeting, the authority is planning to reduce the current fiscal year’s budget by $79 million, a LVCVA spokeswoman confirmed to Casino.org. More reductions are possible in the next fiscal year’s spending plan, the spokeswoman adds.

Today, we face two unprecedented challenges due to COVID-19: the immediate health crisis and the resulting economic emergency. Southern Nevadans have faced many challenges, and defeating COVID-19 and implementing an economic recovery plan will test our mettle once again — like never before.

Despite the current closure of the nation’s casino industry due to the ongoing COVID-19 coronavirus pandemic, the former chairwoman of Nevada’s Gaming Control Board said she doesn’t see a material reason why regulators would block the $17.3 billion merger between Eldorado Resorts and Caesars Entertainment, “based on publicly available information.”

Public union contracts covering more than 18,000 hospital workers, police officers and other government employees have fallen victim to Nevada’s coronavirus outbreak.

Hundreds have answered the call to join Governor Sisolak’s Battle Born Medical Corps. The team will help during the COVID-19 pandemic.