Atlantic City Losing Upwards of 500 Million Dollars Per Month Amid Global Pandemic

Atlantic City Boardwalk at Night

Could you imagine walking into a casino, any casino in the world, and it just being empty? Caesar’s in Atlantic City would be a very strange casino to see completely desolate. Yet that’s exactly where we are.

The unfortunate outbreak of the COVID-19 virus has left hundreds of thousands of people unemployed across the world. In the US, where the virus has spread to be the worst country so far, we’re seeing a massive hit to the casino industry.

I won’t sit here and claim that casinos are an essential business. Still, it’s definitely cause for concern for these companies.

The Declining of Atlantic City

Since the state-regulated shutdowns started in early March, casinos around the globe are facing financial struggles. Atlantic City is now losing 540 million every month. These numbers are staggering, losses of which the casino industry as a whole as ever seen.

The big question floating around for everyone is, “will the industry bounce back?” 

With the amount being lost every month as high as it is, it does seem hard to imagine scenarios where Atlantic City casinos would be able to bounce back from this. However, I’m not saying that it can’t happen.

A professor at the University of Texas Rio Grande had this to say during an interview with New York Post:

“We haven’t seen it play out yet, but if you look at the economic numbers that are going to start coming out in the coming weeks, this portends to be a worse economic downturn than we even saw in the great recession.”

Unemployment All-Time High

With all the casinos being closed, obviously, that leaves thousands of workers in the casino industry without jobs during this time. 

Currently, there are 26,000 people from the Atlantic City casino industry that are out of work.

Unemployment across the entire US is hitting some of the highest numbers that the country has ever seen. It’s tough seeing the casino industry going through this, but they are definitely not the only ones affected. 

The Wrap Up

Atlantic City is a beautiful area with great people and tourists that flock from all over. Even though some tough times are being gone through right now, I have high hopes that they will bounce back from this stronger than ever.

What do you guys think? How has the COVID-19 virus outbreak affected you? Please let me know in the comments below.

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