DraftKings Falls 10% After Reporting Larger Than Expected Losses

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Sports betting company DraftKings fell by as much as 10% during Friday’s trading after it reported a larger-than-expected loss for the second quarter of 2020 and even after its revenues exceeded expectations.

Effect of COVID-19 Shutdown

The Boston-based gambling company posted a loss of $164.1M for the second quarter, or 55 cents per share which is steeper than the $28.11M loss, or 15 cents per share, which it reported for the same period last tear. Analysts polled by Dow Jones pegged the expected loss to be at 20 cents per share.

DraftKings’ losses emerged as the COVID-19 pandemic continues to bring havoc to sports. Professional and collegiate league schedules have been derailed and games have been suspended as athletes and fans have been forced to stay at home.

Most sporting events were suspended in mid-March, meaning the top professional sports leagues like the NBA, MLB, and NHL were forced into a hiatus during the second quarter of 2020. Recently, NCAA college leagues like the Big 10 and Pac 12 have also announced the cancellation of their respective seasons due to concerns about the coronavirus.

New Offerings

The NBA, MLB, and NHL have since returned and DraftKings says it has seen a revenue boost. But aside from that, the company said that it is focused to deliver new and innovative offerings that will lead to healthier financial figures as sports continues to gradually resume. Said CEO and co-founder Jason Robins:

“In the second quarter, while several major sports leagues including the NBA, MLB and the NHL remained on hiatus due to COVID-19, the Company worked creatively to engage fans with new fantasy sports and betting products for NASCAR, golf, UFC, and European soccer.”

DraftKings also announced its full 2020 outlook, revealing that it expects a pro forma revenue of $500M to $540M, which is an equivalent of 22% to 37% growth for the second half of the year. In its report, the company reported $1.2B in cash and no debt on its second quarter balance sheet.

DraftKings went public last April after it combined with special purpose acquisitions company Diamond Eagle Acquisition Corp. and gaming technology provider SBTech. The move allowed DraftKings to circumvent the typical processes for initial public offerings.

Is a Casino to Blame for the Cardinals’ Covid-19 Cases?

The 2020 MLB season officially on July 23rd. Since that time, the world’s biggest baseball league has been plagued by issues. After new reports, some are beginning to wonder if a casino is to blame for the Cardinals’ Covid-19 cases.Casino Table Game

As many already know, the St. Louis Cardinals have seen a number of positive Covid-19 cases pop up over the past few days. It’s a serious issue that may end up forcing the cancelation of this year’s MLB season. Today, we’re going to look at what could have caused this new surge in cases.

The 2020 MLB Season is Up and Running

Baseball is and always has been one of the most popular sports in the United States. Since March, many people around the country have been calling for the 2020 MLB season to resume. After months of deliberation, league officials announced the season would begin again on July 23rd.

This is what everyone wanted to hear. Several major leagues had already started operating again. The MLB was unique, however, in the fact that it wasn’t putting its players in a bubble. Most agreed that doing so would be extremely difficult.

The season this year is significantly different from all others. All teams were scheduled to play 60 games. An expanded 16-team postseason is scheduled to begin on September 29th. Unsurprisingly, no fans are allowed to attend any games.

Baseball season is back and games are now taking place on a regular basis. Television ratings for these games have been great. Unlike many other sports, baseball doesn’t seem to suffer from its lack of crowds. Many fans are now betting on different game outcomes.

That doesn’t mean that everything is going smoothly. As the weeks go on, more teams are experiencing issues. We’ve seen many positive Covid-19 tests over the past two weeks. Many fear that if this trend continues, the season will be canceled entirely.

We’re now beginning to learn more about what led to several players on the St. Louis Cardinals coming up positive for the new coronavirus.

Visit to Local Casino May Have Caused the Cardinals’ Covid-19 Cases

Without a regimented bubble set in place, it’s been incredibly difficult for the MLB to stay away from the new coronavirus. Players have been able to move around as they please. That wasn’t making it easy for league officials who continue to deal with new coronavirus cases. Now, players are banned from leaving their hotels.

Recently, news surfaced that four players on the Cardinals and three team staff members tested positive for this new virus. Additional tests of team members have since been taken. It seems highly likely that more players will come up positive, as well.

We’re starting to hear what may have caused the Cardinals’ Covid-19 cases. Reports came out that several players visited a local casino. Exactly what casino was visited is unknown. Cardinals executive John Mozeliak is already shooting these reports down.

“I have no factual reason to believe that is true, and I have not seen any proof of that,” Mozeliak said. If they were at a casino, though, that would be disappointing.”

Casinos have been opening in Missouri for months. All have strict safety protocols set in place. With that being said, these venues remain easy places for the new coronavirus to spread from person to person.

We’ll continue hearing more about the Cardinals’ situation over the next couple of weeks. Some are now asking how this news could affect Missouri’s casino industry.

Missouri Casinos Still Struggle to Bring in Revenue

Missouri isn’t typically thought of as a major gambling destination. In reality, though, this state draws in many tourists from nearby states to take part in its gaming fun. There are 14 different casinos in the state, most of which are now open.

Casino revenue in this state remains low. Gambling revenue across the entire country is significantly lower right now than it was in 2019. The fact remains that most of the country doesn’t want to visit and play inside a crowded casino.

No one seems to have the best approach to increase Missouri’s gaming revenue. Some feel that Missouri could benefit from legal sports betting. As of now, however, the state has not passed any bills to legalize and regulate sports gambling.

The news of the Cardinals’ Covid-19 cases possibly coming from a casino certainly won’t help. Some may be even more fearful that these venues will result in infection spread.

Many different industries are hurting right now. That includes the professional sports and casino industry. Hope is that things improve over the next few months.

Do you think a casino is to blame for the Cardinals’ situation? Let us know in the comments section below!

UFC 249 Fighters Will Be Tested for Covid-19 Before Event

On Saturday, May 9th, the UFC will become the first major sports league in the US to resume its operations. MMA fans around the world are excited, yet many still have questions about the safety of everyone involved in this event. Fortunately, news has surfaced that all UFC 249 fighters will be tested for Covid-19 prior to stepping in the cage.

UFC 249 Poster

More details of this event continue to come out. It should be one of the most-watched mixed martial arts events of all time. Today, we’re going to look at how the UFC is ensuring that all the fighters competing will stay safe.

Let’s get into it!

The UFC’s Upcoming Event is Given the Green Light to Take Place

We’re now less than a week away from UFC 249 taking place. For the past few weeks, fans have held their breath, hoping this event would be approved to take place. It’s scheduled to take place in Florida where sports were recently deemed essential.

Fortunately, it appears the UFC has been given the green light to host this event by all necessary parties. Dana White claims Florida’s sports commission and Governor have approved UFC 249. He also claims ESPN is ready to broadcast the show.

It seems very unlikely that this event will be postponed like the event back in April was. Officials within the UFC have worked hard to ensure they abide by state and federal laws. UFC 249 fighters are likely to travel to Florida in the next day or two to prepare for their bouts.

This won’t be the only major MMA event to take place this month. Dana White claims that multiple events will be held over the next two weeks. After that, the company will get back to its normal schedule.

It’s a good time to be an MMA fan. Several major fight cards are scheduled to take place over the next few weeks. The UFC’s “Fight Island” is expected to be up and running soon, as well.

Recently, news broke that the UFC plans to test all of its fighters for the new coronavirus.

All UFC 249 Fighters Are Going to be Tested for Covid-19

Holding a major sporting event right now was always going to generate controversy. Many have condemned the UFC’s decision to resume operations, claiming it puts many at unnecessary risk. Officials within the UFC have countered that argument, claiming they will ensure that the event is held in as safe a way as possible.

Several journalists have asked Dana White whether or not the fighters competing will be tested for Covid-19, the disease caused by the new coronavirus spreading around the country. For weeks, Dana White refused to answer this question. We’ve finally gotten an answer today.

A new report by ESPN confirms that all UFC 249 fighters will be tested for Covid-19. Brian Hughes, chief administrative officer of Jacksonville, discussed some of the UFC’s safety measures with the media recently.

“Part of what gave us comfort was a plan they (UFC) outlined related to testing those they’re bringing to Jacksonville related to COVID-19,” Hughes said. “Based on what we’ve been briefed, it is clear that they’re going to test for COVID and they’ll have a couple of different segments of testing throughout the week.”

This is what everyone wanted to hear. It’s great to see live sports back up and running, but not if it compromises the athletes. Based on what’s being said, this event will be held as safely as possible.

We’re now beginning to hear about the other major fights scheduled to take place this week.

Here’s Who’s Fighting Later This Month

The event scheduled to take place on Saturday is one of the biggest in UFC history. Every single fight on the card has fans interested. Recently, UFC officials started to reveal some of the other fighters scheduled to headline events this month.

On Wednesday, May 13th, light-heavyweight contenders Anthony Smith and Glover Teixeira will look to take on step closer to the title. In the co-main event of this card, Ben Rothwell will welcome Ovince St. Preux to the heavyweight division. There are several important undercard bouts scheduled to take place, as well.

Another fight card will take place on May 16th. Alistair Overeem and Walt Harris are headlining this show. In the co-main event, Claudia Gadelha will try to halt the momentum of Angela Hill. Dana White also claimed that Tyron Woodley may headline a show on May 23rd.

UFC 249 fighters are set to be tested for Covid-19. It’s safe to assume that all the other fighters competing this month will receive these tests, as well. It’s clear that the UFC is doing everything it can to protect the athletes and staff working at this event.

The next few fight cards will be held in Jacksonville, Florida. In time, fight cards may be held at the UFC Apex Center in Las Vegas. Unfortunately, no one expects any major combat sporting events to be held inside a Las Vegas casino anytime soon.

What UFC 249 fighters are you most excited to watch? Do you think it’s smart for the promotion to host events right now? Let us know in the comments section below.

Macau Casino Resorts May Earn No Revenue This Month

All over the world, land-based casinos are being forced to close down. This includes ones in Las Vegas, where many of the biggest gambling venues in the world are located. New reports indicate that Macau casino resorts may earn no revenue at all next month.Revenue Decline Image

It’s extremely disappointing news for casino companies with property in this city. Macau continues to suffer from new regulations being made around the world. Today, we’re going to discuss what experts are predicting to happen here over the next few months.

Let’s get into it!

Officials in Macau Allow Casinos to Open Once Again

Macau is another one of the world’s largest casino destinations. Here, a huge number of top-notch gambling venues are currently operating here owned by major companies around the world. Back in February, officials in this city announced that all of the casinos were being forced to close down for 15 days.

This was due to the spread of Covid-19, a new coronavirus that emerged in Wuhan. After several cases in Macau, officials decided it was time to take drastic steps to change this trend. The closing of casinos here cost several companies millions of dollars every single day.

Some felt that this shutdown would last for months. Interestingly, city officials decided to open these gambling venues up once again and some felt revenue would begin flowing in. That is not the case.

Unfortunately, there are still many travel restrictions set in place here. Most people are completely banned from visiting Macau. As a result, casinos here are earning very little revenue right now.

It’s not clear how long this will last for. China and Macau are working hard to ensure that no major outbreaks take place. This is taking a major toll on many casino companies. This week, analysts released reports that claim things may not improve here anytime soon.

Macau Casino Resorts Are Expected to Lose Serious Revenue This Month

Just six months ago, Macau was one of the most profitable gambling destinations in the world. Millions of people flock to this city, many of whom are high rollers from mainland China. As the coronavirus began to spread, however, fewer people started to visit and gamble in Macau.

This should continue for some time. According to new reports, Macau casino resorts may earn no revenue next month. This would be the first time this has ever happened.

In February, gambling revenue in this city fell by an incredible 88%. March brought an 80% decrease in revenue compared to the same month last year. Some analysts now predict that revenue in April will be the worst so far.

“We wouldn’t be surprised to see Macau printing near-zero GGR until the restrictions at the Guangdong border are lifted,” an analyst at JP Morgan told the media. 

It’s extremely disappointing news for many companies. There was hope that Macau could be a lifeline for US casino operators while the industry slows down. Now, it’s looking like this city may end up hurting these companies more than it helps.

US Casino Industry Continues to Suffer

The United States has a large and successful gambling industry. At the moment, all of the land-based casinos in this country are now shut down. It’s unclear when these gambling venues will open once again.

Las Vegas is being hit particularly hard. All of the city’s gambling venues were forced to close down last month. Tourism into the city is now lower than it’s ever been. Some city officials have been calling for regulations to relax, yet this is not happening.

Many casino companies are losing a huge amount of revenue here every single day. Almost no visitors are coming to Las Vegas right now. Even the airport is being forced to close some of its concourses due to the low number of travelers.

As many are aware, there are several Las Vegas casino companies that operate major Macau casino resorts. Now, these companies are losing a significant amount of revenue in several different parts of the world. Some feel these companies may eventually be forced to get rid of their Macau properties.

States continue to set new regulations that are hurting the casino industry. We’ll need to wait and see how long it takes for the country’s gambling venues to open up again. Hopefully, things begin to improve in Macau soon, too.

Stay tuned for more updates over the next few weeks!

Greektown Casino-Hotel is Opening its Door to First Responders in Detroit Area

img-responsive Greektown Hotel-Casino in Detroit

The numbers of confirmed cases of COVID-19 in the USA are continuing to rise. Despite this news, there are still people in the casino industry that are trying to shed a little bit of light during these times. 

The Greektown Casino-Hotel in Detroit, Michigan, is offering free rooms to first responders. They are offering this for those who have fears of taking the virus to their homes and putting their families’ health at risk.

Reports show that there are 40 rooms available for emergency workers, medical workers, and Detroit police officers and firefighters. Of course, this comes with risks and complications, the hotel is taking every precaution possible to keep everyone safe.

Everyone that goes into the hotel undergoes a medical examination, getting their temperatures taken and answering questions. As of right now, the casino is closed due to the order to close all non-essential businesses.

Words from the Greektown Casino-Hotel

The Casinos community relations and public affairs VP had this to say:

“There are so many first responders who are out there working and coming in contact with a lot of people. We’re providing them a safe place to go instead of going home and potentially exposing their families.”

COVID-19 in Michigan

Michigan has unfortunately seen a surge of cases, and now has the 3rd most cases in the United States. Mainly in the Detroit area, which is where most of the first responders are sent to for help. 

That’s why this is such a very generous offer from Greektown Casino-Hotel, as they are opening up their business and potentially bring the virus into their building. This will, of course, give them a hit as they will have to continually clean everything. 

I find it inspiring and selfless and hope other people in the casino industry will follow suit.

Where Michigan Stands 

So far, around 39 members of law enforcement in the Detroit area have been confirmed to have the virus. The President of Detroit Police Officers Association said this:

“We discussed this with the mayor on Friday because one of our concerns is officers who are scared to go home. It’s nice that they’re giving those officers a place to stay during this crisis. Right now, we have to keep our citizens calm and we also have to keep our officers calm.”

The Detroit first responders are obviously very appreciative of this gesture. As I said before, I hope more people in the casino industry will follow suit for our first responders, putting themselves at risk for us.

Casinos in Asia Are Still Suffering Due to Covid-19

The coronavirus has taken an incredible toll on the land-based casino industry around the world. A huge number of casinos in Asia have seen their revenue completely stop coming in. New reports are coming out that claim these gambling venues will continue to experience low revenue figures for the next few months.Casinos In Macau

It’s a very unusual time. We’re seeing Covid-19 spread to thousands of new individuals every single day. Here’s how the virus continues to impact Asian casinos.

Macau Casinos Are Open to the Public Once Again

Macau is one of the biggest and most lucrative gambling hubs in the world. It’s a Chinese territory, yet officials have some authority to set their own regulations here. Prior to the spread of the new coronavirus, Macau had a hugely successful casino industry.

As the virus moved throughout China, it became clear that Macau would take a hit. Eventually, a casino worker in the city tested positive for Covid-19. That prompted lawmakers here to officially close down all of the casinos to the public.

This was devastating for the local economy. It also impacted many major casino companies in Las Vegas that own casinos in Macau. According to many reports, the shutdown of all Macau casinos cost these companies millions of dollars every single day.

Not long ago, these casinos opened to the public once again. Unfortunately, their revenue hasn’t jumped quite as much as many hoped. There are still heavy travel restrictions in Macau and visitation to the casinos here remains very low.

Some felt this would only last a few weeks. As time went on, it seemed possible that Macau would become what it once was. That does not appear to be the case.

Casinos in Asia May See Low Revenue Earnings For Months

The whole world is in an unprecedented situation right now. Not even the best health experts can predict how long this pandemic will continue for. As of now, it seems things will continue to play out until a vaccine is developed.

That’s bad news for casino companies. The land-based gambling industry is taking a serious hit due to the new coronavirus. According to new reports, casinos in Asia will continue to suffer due to Covid-19.

S&P Global Ratings released a report today that details what may take place this year. The company claims that many Asia-Pacific casinos will experience a drop in visitation between 60% to 80% over the next few months. This is due to ongoing travel restrictions, and casino closures.

“This is exacerbating weak consumer sentiment and leading to negative cash flows. Gaming equipment makers and lottery/betting operators are experiencing similar pain from the temporary closure of venues,” the report said. 

This report did not state exactly which companies will see their revenue drop. It seems likely that all gambling venues in Macau and the Philippines will suffer.

It’s a very tough time for many industries. The land-based casino industry, in particular, is taking a major hit. This includes ones in the United States, as well.

Las Vegas Casinos Remain Shut Down

There’s no doubt that Macau is the biggest gambling destination in Asia. In North America, however, that title belongs to Las Vegas. Here, a huge number of fantastic gambling establishments are operating.

Many of the world’s biggest casino companies are based here including MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Unfortunately, all of the casinos in Las Vegas have been forced to shut down. It’s unclear when Governor Sisolak will remove these regulations.

This is devastating for many of the companies here, including non-gaming ones. Tourism in the city is at an all-time low. Fortunately, the federal government passed a new stimulus package that should offer some support for these companies.

Since the land-based gaming venues have shut down, online casinos in Nevada have grown hugely popular. Most individuals here are recognizing how fun and easy this industry really is.

Casinos in Asia and the US are facing a tough few months. Online casinos are seeing their membership rates increase.

Stay tuned for more casino news over the next few months!

Covid-19 Continues to Slow Down Las Vegas Construction

The coronavirus has now spread throughout the entire United States. Perhaps no city has been affected by this new virus quite as much as Las Vegas. According to new reports, Las Vegas construction projects have been slowing down considerably.

Resorts World Las Vegas

This is a tough time for people around the world. Several major industries are being hit hard. Today, we’re going to discuss the impact that Covid-19 is having on major construction projects inside Las Vegas.

Let’s get into it!

More than 130,000 Covid-19 Infections Are Now Confirmed in the US

As most are well aware, the new coronavirus is quickly spreading around the world. Unfortunately, no one saw this virus spread coming. It’s exposed just how unprepared many of the world’s most powerful countries were for a pandemic.

In early March, less than one hundred cases were confirmed in the United States. Today, more than 130,000 people have been officially diagnosed with the coronavirus. Every day, thousands of new cases emerge.

Some states are being hit harder than others. As of now, New York is the epicenter of the epidemic in the US. This state has nearly 60,000 cases including tens of thousands in New York City. New Jersey and Louisiana are seeing their infection rates surge, as well.

Nevada saw its first cases emerge in early March. Since that time, nearly 900 individuals here have caught Covid-19. As a result, much of the entire city has been shut down.

All casinos in Las Vegas are closed to the public. The tourism industry here has essentially shut down. Obviously, this has been devastating for a huge number of businesses and individuals.

New reports show how Covid-19 is affecting major Las Vegas construction projects.

Las Vegas Construction Projects Are Slowing Down

As we just mentioned, the new coronavirus is affecting a huge number of industries in Las Vegas. Perhaps the most notable is the gambling industry. All major casinos have been forced to shut down in the city. It’s unclear when these venues will be able to open again.

Governor Sisolak has called for all non-essential businesses to shut down. Fortunately, the state is still allowing construction to take place. That’s not entirely surprising, considering a huge number of massive Las Vegas construction projects are currently underway.

It appears many of these projects are slowing down, though. Workers at the new Allegiant Stadium and the Resorts World Las Vegas have tested positive for Covid-19. This is led some lawmakers to discuss the possibility of halting all construction.

No one wants to see these projects completely stalled, though. In the mid-2000s, many projects were stalled due to the recession. This cost thousands of people their jobs and was devastating to the local economy. City officials now need to weigh the safety of residents and the impact that new regulations will have on Las Vegas.

For now, construction is still able to take place in Las Vegas. If the gambling industry remains closed and more Covid-19 infections begin to emerge, however, we may see some of these projects put on hold.

Las Vegas Casino Companies Receive Help From Stimulus Bill

Many of the biggest casino companies in the world are based in Las Vegas. This includes MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Today, all of these companies are bleeding revenue due to the regulations in Nevada.

Many of these companies claimed that unless things changed, they would be unable to continue operating. Reports surfaced that show they are currently losing millions of dollars every day. Many casino officials began asking the government for relief.

Last week, a massive new stimulus bill was officially signed. Many of the major casino operators in Las Vegas are taking a sigh of relief. Under the new bill, casinos in Nevada can receive money from the $450 billion in government loans now being offered.

Brian Ahern, a spokesperson for MGM Resorts International, commented on the bill to the media this week.

“Our goal is to reopen our doors and get employees back to work as soon as public health and safety allow. These provisions help pave the way for that outcome,” he said. “We are pleased the economic relief package offers financial support immediately.” 

Casino companies are getting some much-needed relief. Unfortunately, several major Las Vegas construction projects are in danger of being halted.

Stay tuned for more Las Vegas news over the next few weeks!

Thousands of Slot Machines in Missouri May Soon Shut Down

Missouri is home to a huge number of slot gambling machines. As Covid-19 continues to spread around the state, lawmakers are beginning to discuss whether or not they should be able to run. According to new reports, thousands of slot machines in Missouri may soon shut down due to concerns about the coronavirus.

Missouri Casinos

Scientists are still learning about this virus. We now know that it can survive for days on a surface, waiting to infect others. Today, we’re going to look at the gambling laws in Missouri, and discuss why lawmakers here are getting rid of the slot gambling machines.

Let’s get into it!

Missouri’s Gambling Laws, Explained

For decades, Missouri had a large and successful casino industry. Unfortunately, things took a turn in the early 1900s when lawmakers decided to officially close all casinos and bingo halls. It wasn’t until 1980 that state officials started to allow bingo gambling once again.

There are now many casinos operating in Missouri right now. Some of these are riverboat casinos. Others are gambling venues based on land. These casinos help to bring the state millions of dollars every single year.

Over the past few years, lawmakers in this state have seen a huge rise in illegal gambling machines. There are now many slot machines in Missouri that are located in gas stations, bars, and restaurants. Eventually, state officials decided to crack down on these machines.

Earlier this month, Senate Bill 566 was introduced to allow state-regulated gaming machines to operate in the state. Lawmakers realize that people are playing through these machines. By regulating them, at least the state is earning money.

There are still a huge number of illegal slots operating in this state, though. This week, officials announced they were interested in cracking down on the rogue slot machines.

Gaming Commission Wants to Crack Down on Slot Machines in Missouri

According to some reports, more than 14,000 illegal slot machines are now operating in Missouri. Many of these gaming machines are located in gas stations. The Missouri Gaming Commission is now claiming that these slots pose a serious health risk.

According to the Commission, these are not being cleaned regularly. In fact, they may be the perfect machines to spread Covid-19. The group is now asking for state and local health departments to shut all of these machines down.

Mike Winter, executive director of the association, released a statement about this to the media.

“Often lined up one right next to the other in gas stations and other establishments, the cleanliness of these illegal and unregulated slot machines is questionable,” he said. “We believe the state should shut down these illegal slot machines, for the safety of our residents.”

This certainly makes sense. Many have overlooked how the unregulated slot machines in Missouri may be helping to spread the coronavirus. With the state’s real casinos now closed, these machines have actually grown more popular.

It’s unclear if the state will grant this request. Infection rates of Covid-19 are beginning to increase in Missouri. If the Gaming Commission can convince the state that these machines are to blame, we’ll see them gone in no time at all.

Online Slot Games Are Available in Missouri

It’s clear that many individuals in Missouri enjoy gambling. The state’s casinos bring in serious every single month. Even the slot machines in Missouri that are operating under the radar are popular with locals.

Soon, these slots may be shut down. Fortunately, there are a huge number of amazing online casinos in Missouri that offer more slots than some of the biggest land-based casinos in the country. Most of them are completely safe.

The popularity of internet casino gambling has increased here for years. Now that the state’s brick-and-mortar casinos are shut down, these online casinos are attracting even more players from around Missouri.

This is a tough time for the entire country. As of today, more than 500 individuals in the state have tested positive for Covid-19. This number is likely to increase drastically over the next few weeks.

No one expects land-based casinos to open up anytime soon. That means online casinos are the only real gambling options available here. Check out some of the sites to see what gambling options are here.

Stay tuned for more Missouri gambling news over the next few weeks!

All Casinos in Massachusetts Are Remaining Closed

The US land-based casino industry remains completely shut down to the spread of Covid-19. Initially, lawmakers in Massachusetts announced that gambling venues would be closed until March 29th. New reports are coming out that indicate all casinos in Massachusetts are remaining closed for considerably longer.Massachusetts State Symbol

No one really knows when the casino industry will open up again. As of now, the United States has the third-most infections in the world. Today, we’re going to talk about how the situation is unfolding.

Let’s get into it!

Nearly 79,000 Covid-19 Cases Have Been Confirmed In the United States

Within just a few weeks, the number of coronavirus in the United States has skyrocketed. According to new reports, more than 79,000 individuals have been officially confirmed to have Covid-19. Some states are experiencing major outbreaks.

New York is currently the epicenter of the United States epidemic. More than 37,000 cases have officially been confirmed in this state. Just today, an additional 4,292 cases have been reported in this state.

Rates in Louisiana are beginning to jump very quickly. At the moment, more than 2,300 cases have been confirmed here. In the past 24 hours, an additional 510 cases were announced. New Orleans, in particular, is facing a major surge in new cases.

Massachusetts is seeing its rates increase, too. By tomorrow, more than 2,000 individuals here are likely to have the virus. State officials here have closed down many businesses to help avoid major infection surges.

The coronavirus has already taken a major toll on the land-based casino industry. It appears that things are not improving anytime soon, too.

Casinos in Massachusetts Will Remain Closed Until At Least April 7th

As we just mentioned, lawmakers in Massachusetts first announced that the state’s casinos would be closed until March 29th. Most felt this shutdown would last for much longer. Infection rates continue to increase and until that changes, casinos are likely to remain completely closed.

This week, the state’s Gaming Commission announced that all casinos in Massachusetts will now stay closed until at least April 7th. This applies to all three of the casinos here, including the MGM Springfield, Encore Boston Harbor, and Plainridge Park Casino. State commissioners unanimously voted to keep these casinos closed.

Gayle Cameron, one of the commissioners who approved these measures, believes these measures are necessary right now.

“It’s a sound plan, following the governor’s order and then evaluating ahead of time so that if there are other necessary arrangements we have to make, we will be prepared to do that,” he said.  

Officials at MGM Springfield also released a statement on the extended closure to the media this week.

“The health and safety of our employees, their families, and the community is our number one concern. As COVID-19 continues to place unprecedented demand on the region, MGM Springfield will remain engaged with the local community to support frontline workers, organizations and residents most impacted.”

Online Casino Gambling is Growing More Popular

Based on the way things are going, the US land-based casino industry will be closed down for months. Infection rates continue to increase around the country. Even Las Vegas, the gambling hub of the United States, has been forced to close down all of its casinos until further notice.

This is taking a serious toll on this city. New reports indicate that these gambling venues are losing millions of dollars a day. Some claim they can only survive a few more months before going bankrupt.

As a result, online casino gambling is growing more popular all around the country. There are now a huge number of fantastic online casinos in Massachusetts. Many of them offer just as many games as the biggest land-based casinos in the state.

These gambling websites are going to continue to get more popular. Most analysts predict that casinos will remain closed until the virus is under control. That seems unlikely to happen anytime soon.

Casinos in Massachusetts are closed right now. It’s unclear how long these venues will be able to survive while shut down. Stay tuned for more updates over the next few months!

US Casino Operators Are Losing Millions Every Day

Casinos in Las Vegas are still shut down and tourism in the city is at an all-time low. Even the country’s top health experts cannot say when this situation will play out. Today, we’re going to discuss how much money different US casino operators are losing as a result of this pandemic.Revenue Drop Picture

The land-based gambling industry is being hit extremely hard right now. Major casino companies have a tough road ahead of them. Here’s what’s happening with this situation right now.

The Las Vegas Shutdown Continues

Our team has covered what’s been happening in Las Vegas for weeks. The city is dealing with an unprecedented situation. Never before have all casinos in Las Vegas been forced to close their doors to the public.

This is all due to the rapid spread of Covid-19, a new coronavirus that first emerged in China. In late January, the virus finally hit the United States. Today, more than 61,000 people have been infected in the US. New York is experiencing a massive surge of cases.

Nevada’s governor forced all casinos in the state to close last week. The mayor of Las Vegas pushed against these regulations. She argues that the city is already suffering greatly due to the huge number of closed businesses.

Governor Sisolak is not changing his stance, though. As a result, all US casino operators have officially shut down. The Las Vegas Strip, home to some of the biggest casino-resorts in the world, is now effectively closed down.

Many companies here are losing a huge amount of revenue due to these regulations. New reports have just been released that show the true impact the coronavirus is having on casino operators in the city.

US Casino Operators Face Bankruptcy Due to Covid-19

Nearly every single casino across the country is now shut down. It’s not much of a surprise to see. State governments realize that casinos are easy places for a virus to spread. As a result, casino companies across the nation are suffering.

This is especially true in Las Vegas. As we mentioned earlier, this city is home to many of the biggest and most profitable casino-resorts in the world. This week,  a report was released by the Macquarie Research that indicated many US casino operators only have a few months before they go bankrupt.

Chad Beynon, a Macquarie Securities gaming analyst, commented on the situation to the media this week.

“U.S. gaming has been one of the hardest hit sectors in the consumer space since the beginning of the crisis,” Beynon said. “The casino shutdown domestically coupled with high debt loads is pushing investors to ask, how long can these balance sheets last in this current environment?”

According to the reports, Boyd Gaming is losing up to $3.2 million every single day. MGM Resorts International is losing $14.4 million per day. Penn National Gaming is seeing losses of $6.4 million every single day.

For some of these companies, this is disastrous. Unless things improve in the next few months, they are at risk of going under. Employees are already suffering. Some of the aforementioned companies only offer one or two weeks of pay while the situation unfolds.

How Long Will This Situation Play Out For?

This is the million-dollar question. Just about everyone has tried to predict how this pandemic will play out for. Most health experts feel it will drag on for months, perhaps until a vaccine is developed. Others feel herd immunity will begin to take place and ultimately kill off the virus.

The President seems determined to get things back on track by Easter. Almost no one expects this to be a reality.

It seems very likely that things will continue to get much worse before they get better. Infection rates are increasing in the US very quickly. Some believe that the country will soon become the epicenter of the pandemic.

This doesn’t mean it will last forever. Eventually, scientists will find an effective way to protect people from Covid-19. The government is investing billions of dollars to streamline this process.

Hopefully, US casino operators are able to withstand this shutdown. The companies in Las Vegas have already asked Congress for help. We’ll need to wait and see how the government is able to protect them.

Stay tuned for more Las Vegas casino news over the next few months!