For weeks, all of the land-based casinos in the United States have been shut down. Obviously, this has been devastating for many of the country’s top casino operators. Many experts now believe that Macau’s revenue will be extremely important for US casino companies moving forward.
Several Las Vegas-based casino companies currently operate in Macau. Today, we’re going to look at how the Chinese territory is faring right now. We’ll also discuss when we may see US casinos begin operating again.
Let’s get into it!
The Largest US Casino Cities Are Shut Down Right Now
As most people know, several cities in the US are known for their gambling industries. In these parts of the country, some of the most incredible casino-resorts in the world are operating. Unfortunately, all of the country’s land-based gambling venues have completely shut down due to the spread of the new coronavirus.
Las Vegas is obviously the most-affected gambling market in the country. This city is home to some of the country’s biggest casino companies. For nearly a month, casinos here have been closed. Some reports claim this is costing these companies millions of dollars every single day.
It’s been devastating to Nevada’s economy. Governor Sisolak is unable to say when casinos and other non-essential businesses will be able to open back up. This may have long-lasting effects on the state.
Over on the East Coast, Atlantic City is struggling. Much like Las Vegas, this city relies heavily on its gambling industry. All of the casinos in this city are shut down and with the high rates of infections in New Jersey, it may be months before this changes.
Even smaller casino markets such as Oklahoma are suffering from this casino shutdown. Interestingly, several new casino plans are still being proposed here. This is one of the most unusual times in the country’s history and no one knows when things will return to normal.
More analysts are beginning to suggest that Macau will be an important city for some of the top US casino companies.
Macau’s Revenue May Save US Casino Operators
Macau is considered to be the Las Vegas of Asia. There are several billion-dollar casino-resorts operating here, some of which are run by companies based in the United States. A couple of months ago, Macau’s casino revenue completely stopped flowing in.
Not long after the coronavirus began spreading throughout China, cases emerged in Macau. As a result, city officials decided to close down all of the territory’s casinos. It took weeks before these gambling venues were able to open once again.
Now, the same is happening in the United States. For this reason, analysts feel that Macau’s revenue is more important for US casino companies than ever before. These companies have no other real revenue-generating options.
That doesn’t mean Macau will immediately start bringing in money for these companies. At the moment, casinos here are bringing in very little money. According to a recent report, this city experienced a 79.7% drop in casino revenue last month.
Most people are still choosing to avoid gambling inside casinos. Macau is doing everything it can to attract new players, yet it may be months before things begin to really improve. Fortunately, there’s a clear upwards trend in both tourism and gambling revenue here.
Many now want to know when casinos in the United States will open to the public once again.
Several States Are Now Looking to Reopen
At the moment, every state around the country has some form of restrictions set in place. Some have harsher regulations than others. Over the past few days, several states have begun to discuss lifting these restrictions.
This includes Florida. Recently, the Governor here announced that several industries would be able to start operating again. He even announced that the WWE was deemed an essential business and is now able to hold live shows here.
Unfortunately, Las Vegas is remaining closed down. Infection rates here are increasing here every single day. As long as this happens, it will be difficult for state officials to allow casinos to open back up to the public.
This is why Macau’s revenue is so important. It may be many months before casinos in the United States are able to open again. It will likely take even longer for these properties to start drawing in large numbers of players.
Things are beginning to improve in Macau. That should give hope to US casino companies that are struggling right now.
Stay tuned for more US casino news over the next few months!