Coronavirus Outbreak Affects The Casino Industry
Perhaps the most searched word today is "Coronavirus." The outbreak has reached over 100 countries and continues to expand exponentially worldwide. For some experts, the pandemic is just beginning, and many industries are getting ready for the worst times.
And not only tourism or aviation sector suffer from this, but other businesses also face problems due to the lower number of customers and the events that have been canceled. The casino industry is one of those. Some players report that bookmakers and casinos are empty now, and the stock market crash is also hitting massive companies like Caesars, Eldorado, or MGM Resorts.
In 2019 Eldorado Resorts reached an agreement to buy Caesars, but even now, the transaction is on hold due to the pandemic.
In Las Vegas, casinos and buffets are shutting down, and many events around the world (for example, poker festivals) have been canceled in recent days.
Is Only Las Vegas Being Affected by Covid-19?
Another effect is the reduction in tourists visiting Sin City, especially from China, where the disease originated and the country that sends most of the high rollers to the tables, which accounts for more than 4% of all customers. Still, casinos now report fewer players and tourism on the floor.
But not only in the United States the casino industry suffers from the effects of Covid-19. Macau, the gaming capital of the world, decided to close all casinos for 15 days, and after that, they reopened their doors but only to small crowds, and many tables seem empty.
And, of course, in countries like Italy, Spain, and others that are now taking additional steps to stop the spread of the disease, especially to avoid crowds and make people stay home, they will also face short-term economic problems. Last week, over 20 poker tournament series was canceled around the world.
What Alternatives do the Gamblers Have?
Fortunately, there are plenty of ways to keep gambling in 2020, and of course, the best one is to play online via Fair Go Safe Login or other online casinos with trustworthy platforms that bring all the excitement of the casino to your home.
In fact, the Coronavirus outbreak has benefited the online casino industry as many gamblers simply decided to stay home and bet from their computers. Unfortunately, in the USA, online gambling isn't legal in all states, and many players are either unable to play or have to join underground casinos operating on a gray market.
What Will Happen in the Future?
In the short term, this may open up a discussion about online gambling legalization in the USA. As the Coronavirus outbreak is proving that many Americans love gambling and cannot merely play from home due to the regulation, but also cannot visit a casino for long until the pandemic ends.
Coronavirus will stay among us for a while, and the economic effects on the casino industry are just beginning. Countries like Italy have closed all kinds of business, and only in the future will we know if Las Vegas must take such drastic measures.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.