How Are Casinos Around the Globe Supporting Corona Outbreak?

Casino

From households to overseas companies, almost all types of businesses are feeling the pain due to coronavirus spread. However, the global gambling business which relies on air travel and a massive crowd of people is one of the hardest hit amid lockdown.

First in Asia, now in the United States and other countries casinos wholly walled off from all opportunities due to the fear of COVID-19 spread.

Coronavirus Global Death Toll

In the affected countries, thousands of individuals are now legally told for self-quarantine at home. Many states are now forcing their casinos and restaurants to be “closed” to the general public.

Furthermore, consumer spending has dropped due to the fear of the spread of the highly contagious infectious disease, which has killed thousands of people worldwide in the affected countries. 

Companies dependent on the casinos for business also suffered huge losses. Let’s glance at the coronavirus death toll globally:

coronavirus-impact

Almost All Bets Are Off – “Casino Capitals” Gripped by the Deadly Virus 

Casinos in Las Vegas and Atlantic City have excellent online gambling operations since they were into the gambling business. But it seems almost every casino across the globe is in a big loss. 

It is because patrons are following social distancing and are avoiding mass gatherings.

Macau is the only area of China that permits casino gambling. Gambling accounts for four-fifths of the Macao government’s revenue, making it the biggest gambling hub in the world. But now it has barred entry to the travelers that come for playing slots, Blackjack, etc.

Most of China is following “shut down” by the global epidemic, which first occurred in Wuhan and has made thousands of people ill in the country. 

All casino operators in China suspended their operations to curb the spread of the new coronavirus.  

In Macau, the S&P 500 casinos and gaming stock market index has lost 51% this year. It is more than double the 24% decrease in the S&P 500. 

Gaming regulators in Macau are also sent notices to all casinos to pay salaries to their local staff.

The same has happened in South Korea, Australia, the Philippines, and Cambodia. In the USA, Nevada forced every casino and non-essential business to remain shut amid the pandemic outbreak. 

As per the American Gaming Association:

“All the casinos and other impacted U.S. companies are getting a $454 billion financial assistance package from the U.S. government.”

The Nevada Resort Association also said:

“The gambling industry supports 1.8 million jobs. The unemployment rate of the state could hit 30% – with 320,000 workers depending on $1.3 b in wages and salary at immediate risk.”

S&P also expects that casinos will continue to get hurt by social-distancing restrictions and hesitancy of customer travel even after the coronavirus is under control.

An official at the largest casino operator in South Korea, Kangwon Land Inc, said they had put almost 80% of their employees on temporary leave. 

Famous Star Entertainment Group of Australia said they put 90% of its 9,000 employees on leave. This puts additional financial strain on many casino operators. Casino enthusiasts are now moving to India online casinos for entertainment.

These casinos partner with top-notch software providers like NetEnt, Microgaming, and Play’n Go.

Efforts Appear to be Working 

Amid the unprecedented closures, the casinos across the world seem willing to cooperate. They are enthusiastically supporting the actions made by the government to slow the spread of the dangerous virus.

The Takeaway: 

COVID-19 remains a major stress on the global economy. The situation is getting out of control day by day. However, the government in affected countries is taking the necessary measures to protect the businesses and ordinary people. 

As governments close casinos as a part of the urgent public health response to global pandemic ‘COVID-19,’ all casinos across the world are supporting their actions. It’s a good idea to reap the perks of online casinos in this challenging time. We hope everything will be fine in the coming months.

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