Getting your Trinity Audio player ready...
|
It looks like land casinos are staying afloat in this worldwide economic crisis. But, according to a financial specialist, they have not less than 5.2 months and not more than 14 .3 months to get bankrupt.
After the COVID 19 shutdown, a lot of people are now turning to online pokies for their real money gaming. If you have not signed up, what are you waiting for? Start spinning and start winning now!
Mostly affected by the shutdowns are the Chinese and the US gaming industry. Especially considering the fact that they have the biggest casinos in the world. Not forgetting that they are also the most affected countries by the coronavirus.
The above graph will show you the current gaming share pricing in the US alone. The dating only lasts up to 12 months but it is good enough to give you an idea.
Although the fall seems smooth, land casinos may not be able to recover. Hence, the decrease will at some point leave them beyond the point of hoping for survival.
Meaning, in a few month’s time, they will have to declare bankruptcy earlier. In turn, this will help them prevent any further damage.
Casino Cash Statistics
Here is how long some casinos will have to last running on their daily budget:
Gaming Company | Money Used Daily | Time Left in Months |
Penn National Gaming | 6.4 Million | 5.2 |
MGM Resorts | 14.4 Million | 9 |
Boyd Gaming | 3.2 Million | 9.4 |
Golden Entertainment | 1 Million | 10.4 |
Rock Resorts | 1.7 Million | 13.8 |
With them spending millions per day, it is amazing that these land casinos can actually survive for months.
According to economist and director of UNLV’s Center for Business and Economic Research, Stephen Miller, bankruptcy is the only way most casinos and resorts can get out of this alive.
Other analysts have taken to point of how long it can take a lot of businesses to get back to business. Meaning that land casinos might even end up taking longer since they are a luxury.
Not forgetting that they work hand in hand with the tourism department; which also happens to be the most affected. Hence, it can take a while and the money may not last them long enough.
Conclusion
The world economy seems s to be crashing by the day. Only essential services have been left standing. But, we do not know how long they may last as well. If land casinos cannot survive this economic recession, then people will have to make the switch to online casinos for their casino gaming.
Land Casinos FAQs
What is the legal gambling age?
Can I win money at casinos?
Will land casinos open after COVID 19 shutdown?
What is the house edge at land casinos
Why should I play casino games?
Comments are closed.