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Well...I do know the answer to that, but I am interested in hearing what CL-Ed, and others, think about Vegas basically being shut down and casinos across the United States closing to all customers.
I don't know much about it, so how bad do you all think this is going to hurt them? Do they have any type of "insurance" when it comes to things like a pandemic? Do you think most of them have measures in place or do you think this took them completely by surprise and some will never be able to reopen? How bad is this going to be for 1) Vegas and 2) state casinos, and I guess casinos worldwide, too?!
I really do not know. What do you all think, CL-Friends?
Well at least in Shawshank Redemption there was a plan for afterwards.
Vegas Nevada, and the rest of the casino states and cities around the globe will be having withdrawal symptoms.
Covis-19 could turn out to be a real headache for gamblers and
/players of on -line casino's if one is not careful as most understand in difficult times the ratbag deep pocket casinos come to life to make their mark.The real challenge comes monitoring bad casino operators effectively. Good luck all.
Thank you. That makes sense that the bad casinos may come out online and try to take advantage of people
I am really wondering about the casinos that have been open for years - are there any protections for them at all? Will they need to be "bailed out," or are their any protections in place for things like a pandemic? I mean there must be something or will we be seeing some filing for bankruptcy? I am truly curious.
First I don't claim to have any special insight into Vegas and the land casino industry.
They would be suffering obviously like any business that relies on physical patronage. And yes they would be looking at their insurance policies. However most insurance contracts would have a force majeure clause which can make the contract void due to "unforeseeable circumstances". So I imagine that some insurance companies would be trying to wriggle out of honouring those contracts which means lots of money going to lawyers as they argue back and forth over whether covid-19 was "unforeseeable". The lawyers always win.
I would be pretty surprised if we didn't see some of those land casinos wound up due to this, just like loads of other businesses.
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hi hope 777 there never seems to be a stoppage /shortage of on -line casinos so while a few may close am sure if they show up to have some form of following they will be snapped up by deep pockets.whom am sure are turning over more than ever with the current situation.
In my country all real casino workers have been laid of and the Govt pays them a basic package of approx $590 a week . All services deemed not to be essential have been moth balled for as long as Covis-19 takes to control.
IGT has announced they putting most of their U.S. employees on furlough. They are not a casino, but they manufacture games for land casinos as well as online ones too.
This is going to be a long-term issue for Vegas. Short term they're going to be bailed out by the government, but in the medium term, people aren't going to be booking trips to go out there. This financial crisis will see people hoarding cash or at least cutting back on spending for a while.
That all translates to long-term consequences. Like Ed said, I bet a lot will shut down or be sold to consolidate the few big companies that operate on the Strip. This pandemic is a great case for casinos and states to adopt online betting, as it mitigates some of these issues.
I think it's going to be a long road to recovery for the land casino industry.
Just remember good old Donald Lost lost 1.2 billion himself on a casino venture he stuffed up by himself. USA has a lot of money but not sure if casino bail outs are vote counters for Donald just yet
Better still then whom will be in control of the on line casinos. Vegas has a number of very wealthy people.
Well land based casinos being shut down for an indefinite period of time will definitely affect their business, after the situation will stabilize, still it will take some time for tourism to kick in, therefore profits will be difficult to make. Also when it comes to online gaming, many casinos are facing difficulties, especially smaller brands with sportsbook offering.
for sure there will be a few casualties but rest assured most on-line casino's with sportsbook facilities have deep pockets and being able to offer the alternative gambling facility without leaving home surely supports their business until things stabilize.
Let us hope the on-line casinos operate without being ratbags.😍
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