For the past few years, Atlantic City has once again emerged as one of the gambling hubs of the United States. New Jersey is profiting heavily from the revenue earned from this industry. Unfortunately, the AGA believes new Atlantic City casino shutdowns will take a serious toll on the economy.
It’s an extremely tough time for the land-based casino industry around the United States. No one knows when things will begin to improve, either. Today, we’re going to look at what the AGA is saying to expect.
Let’s get into it!
New Jersey’s Coronavirus Rates Are Increasing
For reasons unknown, the media seems to be reporting that New York and California are the two epicenters of the coronavirus outbreaks in the United States. In reality, though, New Jersey has the second-most infections in the country at 2,844. This trend is increasing and every day hundreds of new cases are reported in this state.
It’s not entirely surprising. New York City is experiencing an incredible surge in cases right now. New Jersey is right next door and is seeing infection rates increase rapidly.
Lawmakers in this state are trying desperately to slow this down. Unfortunately, reports indicate that the state’s testing sites are reaching capacity before even opening to the public. Governor Phil Murphy claims this isn’t a surprise and expects to see many more cases emerge over the next week.
Every state is coming up with new regulations to deal with these issues. Stay-at-home orders are now being seen around the country. Many businesses have been forced to close down, as well. Unfortunately, this is taking a serious toll on the land-based casino industry in many states including Nevada.
The gambling industry in New Jersey is taking a hit, too. Here, all casinos have been forced to close down. Some analysts are now trying to decide how long is too long for these gambling venues to be closed.
Atlantic City Casino Shutdowns Will Result in Major Economic Losses
For a time, it looked as if Atlantic City may emerge as the country’s biggest gambling destination. This city drew in a huge number of gamblers from the East Coast and revenue here continued to increase. As infection rates began to increase in New Jersey, lawmakers finally decided it was time for the state’s casinos to close to the public.
The American Gaming Association has been trying to warn Congress about the impact of these casino closures. This group represents casino owners across the country. It’s been warning about the impact these new regulations will have on cities like Las Vegas, which relies heavily on its casino industry.
This week, the AGA released a statement about the Atlantic City casino shutdowns. According to the group, this will end up affecting millions of people around the state.
“The impact on our employees, their families and communities is staggering, and the implications extend far beyond the casino floor,” said Bill Miller, president and CEO of the AGA. “Gaming is an economic engine, employing millions of local residents, generating community investment through vital tax revenue, and supporting small businesses in communities all across the country.”
The AGA later went on to claim this will cost New Jersey $1.1 billion in economic losses. This is clearly a tough time for casino operators here. We won’t know the true impact this casino shutdown will cost for at least a few months.
US Online Casino Industry Continues to Surge
Covid-19 isn’t slowing down. Europe remains the epicenter of the pandemic, yet infection rates in the United States have been increasing rapidly. Soon, it’s likely that more cases will be recorded here than any other nation.
Recent reports claim that more than 90% of all land-based casinos in the country are shut down. This includes all of the ones in Las Vegas. The Atlantic City casino shutdowns prove that the land-based gaming industry in this country is hurting.
Many people are now choosing to play through online casino sites in the US. Most of these sites are available in every single state. The majority of them offer more gambling options than the biggest brick-and-mortar casinos in the country, too.
It’s unlikely that normal casinos will open anytime soon. Many major casino companies are now asking for emergency relief from Congress. While these venues are shut down, the online casino industry is growing more popular.
This is a constantly-evolving situation. New updates are being reported every few minutes. Hopefully, health officials are able to put a stop to this pandemic before things become too severe.
Stay tuned for more US casino news over the next few weeks!