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US Online Casinos Profit from Covid-19 Las Vegas Shutdown
Covid-19 pandemic shut down all brick and mortar casinos across the United States. Las Vegas, a city that rides on the crests of the country’s economy, is a place where the sudden lockdown left the biggest impact. The blackjack, baccarat, poker, and other table games dealers are packed up, the bartenders and musicians went home. The city is shaken like never before. Who could’ve imagined such a scenario just a couple of months ago?
The gamblers thus can’t visit their favorite casino and play slots, roulette, or cards anymore. Instead, they are all suddenly migrating to the internet to boost up the ever-growing online gambling industry. Many environments in the niche, such as SugarHouse Casino online, are thus looking at an unexpected revenue growth these days. Whilst the land-based casinos are suffering from massive losses, the online branches are enjoying increased profits.
The Las Vegas party train is forced to stop
No city in the world has felt the negative consequences of the coronavirus outbreak to its casino industry like Las Vegas. Governor Steve Sisolak shut the state’s businesses down in mid-March putting the brakes on an industry with more than 150,000 slot machines and 5,000 table games.
Over 165,000 people were employed in Southern Nevada’s casinos and hotels in 2018. Now that everything is stopped, it is hard to find a Las Vegas citizen immune to the Covid-19 effects. The city has never before seen a similar economic crisis, not even in 2008. The workers, who suddenly lost their employment can do nothing but listen to the news and hope the pandemic will slow down as soon as possible. As for gamblers, they still have plenty of options to enjoy the whirls of roulette tables and the beeps of slot machines. The experience may not be identical to the one they’d get in a land-based casino, but the pastime is still there.
Gamblers find consolation in online casinos
Sadly, not all US citizens can compensate for the brick and mortar casinos shutdown. Online gambling, at least that bound to casino games and poker, is legal in just a handful of territories:
- New Jersey
The providers of online casino games in these states are reporting a serious rise in revenue these days and weeks. Most of them have welcomed two or three times higher number of new registrants in the last week only. The lack of sports action also contributes to the online casinos‘ growth. All major competitions in the United States, as well as the top European leagues (soccer, basketball, etc.), are all on pause, leaving the gamblers with casino games as their only legit option.
Larger profits are expected in the next couple of months
The Covid-19 pandemic is not showing intentions of slowing down any time soon and the online casinos have prospects of increasing their revenue even more in the period to come. Most of the internet gambling providers have witnessed the uptick in terms of the profit last year. For example, the Atlantic City casinos enjoyed a rise of almost 62% in income if we compare the 2018 and 2019 levels. The online casinos in this state reported $483 million in revenue last year.
New Jersey’s main online gambling provider, the Golden Nugget, won more than $177 million in 2019. The casino’s general manager Thomas Winter reported a 20% rise in new sign-ups in March. The situation is similar to Hard Rock Atlantic City, as stated by the Hard Rock president Joe Lupo.
Online gambling could expand to more states
The current situation may likely initiate the faster expansion of online gambling across the United States. There are no such indications yet, but we would not be surprised to see the trend going during tough times. This is not a snowstorm expected to vanish in a couple of days. The pandemic expanded to most countries all over the globe and is yet to cause the biggest problems to the US health and economy.