Land casinos are one of the major business entities that suffered losses from the COVID 19 shutdown. And, now that they are reopening, they are now being used to measure the economic boost in most states.
After the lockdown, land-based casinos lost up to 30 million dollars a week, and some would even lose more than that in a space of days. But, the economy of most countries at large lost even more than that.
With both entities losing a lot of millions, it is understandable that the world is now using the success of land casinos to analyse the economic boost.
Relationship between Casinos and Economy Boost
You might be wondering what relationship the land casino industry has with the economic boost. This is because casinos are the largest taxpayers in any economy.
Therefore, since they will be making millions, it means that the government will also end up getting a huge payout in taxes. For example, if a casino is making up to 100 million and the government is charging a 10% tax, they will be getting 10 million dollars from one casino alone.
Therefore, the boost at a land casino means a huge economic boost for most gambling states. Meaning, most states that are having an economy meltdown are sitting on the edges of their seats in light of the recent casino reopening phase.
Land Casinos Celebrating Success
It looks like it is going to be a happy ending for the economy. In America, most opened casinos are recording impressive sales. Meaning, there is hope for most casinos and economies worldwide.
For example, the Silver Slipper Casino got a 12.3 % increase in its gaming revenue. And, it looks like most casinos recorded their regular million sales in a space of 4 days. Overall, most casinos were ranging from 30 to 40 million dollars.
However, not all casinos are recording successes, some are still struggling to climb up the revenue hill. Generally, the losses between most casinos are between 30 -40 %.
It is going to be taking more than land casino opening for the best economy boost in most states. Meaning, the COVID 19 damages are going to be hard to overcome for most casinos worldwide. But, even though, there is still hope for most countries. And, of course, we are all hoping for the best outcomes.