Land Casinos to Possibly Declare Bankruptcy By the End of 2020

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Land casinos to possibly face bankruptcy.

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.

Land Casino Share Pricing in the US

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Land Casinos Are Slowly falling into bankruptcy

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?
The gambling age usually ranges from 18-21 years. Make sure you practice responsible gambling and make sure you are of the permitted age.
Can I win money at casinos?
Despite contrary belief, it is possible to win money at casinos. They practice fair gaming under the supervision of gaming authorities.
Will land casinos open after COVID 19 shutdown?
Like any other business, land casinos are expected to resume operation after the quarantine period is over.
What is the house edge at land casinos
The house edge is the percentage to which the casino has an advantage over the game in comparison to you.
Why should I play casino games?
First of all, before all the money comes in, casino games are all about having fun. The money factor is just a bonus.


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