More Than 90% of US Casinos Close Due to Virus Fears

Mar 26

As the coronavirus outbreak in the US worsens, the shutdown of all non-essential businesses has been ordered. This is to help prevent the further spread of the virus and to safeguard the lives of all Americans affected by this disease. Aside from the closure of all casinos in Las Vegas and all across Nevada, the American Gaming Association has also seen the closure of over 400 casinos in the country.

These include gaming outlets outside of the entertainment capital of the US, which can be found in a lot of states such as New Jersey, Florida, and more. The number of commercial casinos closing due to the virus makes up around 94% of the total of such establishments in the US. Aside from these, 196 casinos run by tribal groups have also closed. This brings the total gambling outlets closed in the country to a staggering 635.

These closures are set to bring about massive losses to the industry, with billions being lost to such a move. Aside from lost revenue, this closure will also see thousands of workers losing wages and job security. Also part of the losses being attributed to this lockdown is those that involve businesses which are dependent on the gambling industry. Restaurants, gift shops, hotels, and entertainment outlets will also be shuttering their doors until further notice. This will mean roughly $52 billion in losses for all of these during the specified closure period.

Apart from the businesses and casinos losing from such a move, governments that also depend on the taxes generated by these businesses will also suffer a hit. Tax revenues, tribal revenues, and other income-generating taxes that are to be paid to the local governments will be impacted by this closure. It is also noted that if this lockdown lasts more than two months, losses will be pegged at $23 billion for the economy.