Casino Stock Prices Are Starting to Jump: Here’s Why

The world’s casino industry is slowly beginning to get back on track. As you might expect, investors are starting to take notice. This week, casino stock prices began to surge and many are wondering why.Paper On Stocks And Shares

There’s one key reason for this jump. Fortunately, there’s still time for investors to profit. Let’s take a look at what’s going on here.

How is the US Casino Industry Faring Right Now?

The months between March and June were likely the worst in the history of the US casino industry. It was the first time that all of the country’s casinos were forced to completely shut down. Obviously, casino companies around the country earned almost no revenue during this time.

As time went on, state officials realized something needed to change. Many parts of the country rely on their gambling industries to bring in tourists. That’s especially true in Nevada, the largest gambling destination in the world.

Governor Steve Sisolak gave Nevada’s casinos the green light to begin operating again on June 4th. Today, nearly all of the casinos on the Las Vegas Strip are now operating again. Tourism rates are still down here, though. This probably won’t change until the casinos are able to operate without major restrictions set in place.

New Jersey took a little longer to get back on track. Governor Murphy announced that casinos in Atlantic City would open back up over the Fourth of July weekend. Opening day was a success, yet it will be a long time before gaming revenue gets back to the level it was last year.

Casino companies have begun operating again, but things are far from ideal. Many of these companies are now looking at their overseas properties as primary money-makers. To the surprise of many, casino stock prices began to surge this week.

Here’s Why Casino Stock Prices Jumped This Week

Many investors were excited to see the US casino industry get back on track. Unfortunately, rates of Covid-19 have continued to climb in the United States and many casinos may be forced to close down again soon. Perhaps that’s why so many were surprised to see the share prices for many casino companies go up recently.

There’s a key reason why this is.

The Chinese government has just announced that it plans to loosen travel restrictions on visitors from Macau. Previously, China has made it very difficult for mainlanders to make the trip to Macau and come back. This is huge news for the territory of Macau which, like Las Vegas, relies almost entirely on tourism and gambling revenue.

As many already know, many of the top US casino companies have casinos in Macau. Restrictions are significantly looser in this city. Now that travel restrictions are loosening up, revenue here is likely to increase significantly.

Casino companies are profiting off this news. This week, Wynn Resorts, Las Vegas Sands, and MGM Resorts International all saw their share prices increase. It’s great news for all three of these companies, each of which has property in Macau.

If tourism rates begin to truly surge, we may see casino stock prices rise even more. Investors are certainly taking a good look at this situation. Stay tuned for updates over the next few months!

Eldorado-Caesars Merger is Nearly Complete!

As we’ve already mentioned, this has been an extremely tough past few months for casino companies in the US. While everything has been going on, Eldorado Resorts and Caesars Entertainment have been working to complete their merger. In case you’re unaware, Eldorado paid an astounding $17.3 to acquire Caesars in June of last year.

This is the largest merger ever made between two casino companies. Before it can be complete, though, both companies need approval from various groups. That includes state gambling commissions around the country. They also needed the green light from the FTC.

It appears this deal is finally about to wrap up. Eldorado and Caesars have received approval from many different gambling commissions already. Recently, the FTC approved the merger. These companies are now meeting with members of the last state gambling commissions to receive final approval.

The Indiana Gaming Commission is requiring that Ceasars sell three of its properties before the deal can be complete. Under normal circumstances, that wouldn’t be too difficult for the company. Some feel it could take time to find a buyer for these venues right now, though.

Casino stock prices are always going up and down. We’re likely to see this trend continue over the next few months. Hopefully, the US casino market improves and casino companies here are able to earn enough revenue to function normally.

Do you plan on investing in any US casino companies? Tell us which ones in the comments section below!

More Esports Betting Options Are Becoming Available

With all major sports leagues now shut down, more and more people around the country are beginning to look at different ways to place bets. To the disappointment of many, it may be months before any leagues begin operating again. This week, more Esports betting options officially became available in the state of Nevada.

Esports Tournament

Over the past couple of weeks, Esports betting has grown more and more popular. This is especially true in Nevada, where all casinos are currently shut down. Today, we’re going to look at some of the new “sports betting” options that have just become available here.

Let’s get into it!

Esports Are Growing More Popular Every Week

Back in early March, all of the top sports leagues in the country began discussing plans to close down. The new coronavirus had quickly begun spreading around the United States and several professional athletes had already tested positive. Many state leaders began supporting the decision for sports leagues to shut down their operations.

Eventually, the NBA announced it was suspending its season. The NHL followed shortly after. Then came the NCAA basketball tournament and before long, every single sports league was shut down.

It’s been frustrating for many people stuck at home, unable to watch their favorite sports. Right now should be a great time in the sporting world. For this reason, several smaller competitive events have started to grow more popular.

This includes Esports. For those who are unaware, Esports are multiplayer video game competitions. There are a huge number of Esports tournaments taking place around the world every single month. More people are now choosing to place bets on these tournaments.

Even some state gambling commissions are now getting on board with this form of gambling. This week, several officials in Nevada passed a measure to allow more Esports betting options. Here’s what we know about this situation.

Nevada Gaming Control Board Approves More Esports Betting Options

Nevada is in a tough place right now. For weeks, all of the state’s casinos have been shut down. This has proved devastating for cities like Las Vegas, which rely heavily on gambling revenue. According to some reports, Nevada is actually the worst-affected state in the country in terms of economic impact.

Leaders of this state are working hard to obtain revenue from the gambling industry. This includes approving new forms of sports gambling. This week, the Nevada Gaming Control Board began allowing wagers to be placed on three Esports betting tournaments that are taking place right now.

This state government body officially approved bets on the 2020 League of Legends European Masters tournament, the 2020 League of Legends European Championship and the 2020 North America League of Legends Championship Series. With these three new tournaments, Nevada has now recently approved seven Esports betting options over the past month.

It’s unclear how much sports betting revenue is coming in right now. Even the top sports commissioners in the country cannot say when major leagues will start operating again. In time, Nevada may start approving even more unique forms of sports betting.

It’s a very difficult time for the land-based gambling industry around the country. Nevada is one of many states currently suffering from the casino shutdown. Some experts now believe that Macau may be the key for many casino companies to get past this pandemic.

US Casino Companies Are Starting to Rely on Macau for Revenue

Las Vegas and Macau are two of the biggest and most profitable gambling destinations in the world. Unfortunately, both of these cities have been heavily impacted by the coronavirus over the past few months. Macau, however, seems to be recovering already.

As the coronavirus began spreading throughout China, officials in Macau were forced to close down their gambling venues. This caused many companies (including some based in Las Vegas) to start losing millions of dollars every single day. China’s rates are now lower than in most other parts of the country and Macau’s casinos are once again up and running.

That doesn’t mean things are back to normal here. In fact, revenue in the city is lower than it has ever been. Many of the top Las Vegas casino companies here still believe that revenue in the city will be extremely important. It’s almost guaranteed that this city will earn more than Las Vegas over the next few weeks.

Many analysts believe that Macau will be an extremely important city for Las Vegas casino companies, as well. If revenue begins to increase here, it will quickly become one of the most profitable gambling destinations on the planet.

No one knows how long the casino industry will remain shut down for. To earn more revenue, some casinos are offering more Esports betting options. Some believe that Esports betting will become an extremely profitable form of sports betting for many companies.

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

Macau’s Revenue is Now Very Important for US Casino Companies

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.

Hundred Dollar Bills

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!

How Will the Coronavirus Affect the Las Vegas Economy?

Rates of Covid-19 continue to surge around the country. In Nevada, more than 1,700 individuals have been diagnosed with the virus, including 228 additional cases over the past 24 hours. Interestingly, some experts believe the Las Vegas economy will bounce back in a big way once this crisis is over.

Welcome Sign In Las Vegas

This is a very unusual time for Nevada and the country as a whole. Today, we’ll be looking at how casino companies in Las Vegas are responding to the situation. We’re also going to discuss how the city may look in the future.

Let’s get into it!

All Nevada Casinos Remain Closed to the Public

For weeks now, almost all of the land-based casinos in the United States have been shut down. This is done to help stop the spread of Covid-19, a new coronavirus that first emerged in Wuhan, China. As you might expect, it’s taking an incredible toll on the country’s many casino companies.

Nevada ordered all of its casinos to shut down in mid-March. This came with sharp criticism from the Las Vegas mayor. Eventually, however, it became clear how important it was to limit large public gatherings.

The casino shutdown is still going on today. It’s costing many companies in this city millions of dollars every single day. It’s still unclear when exactly the state’s gambling venues will be able to function normally again.

Some analysts felt that Macai would prove hugely lucrative for many Las Vegas casino companies. Unfortunately, the Chinese territory is experiencing very low revenue figures. A new report even claims the casinos here will earn no revenue at all during April.

The tourism industry is at a standstill right now. Many worry that the Las Vegas economy may suffer for months due to this new virus. This week, one analyst claimed that things may bounce back in a big way once this situation clears up.

Here’s What May Happen to the Las Vegas Economy

Nevada, and specifically Las Vegas, is being hit extremely hard by Covid-19. This city relies heavily on its tourism and gambling industry. Right now, unfortunately, both of these industries are essentially shut down in Las Vegas.

Mike PeQueen, an analyst at HighTower, believes the Las Vegas economy will improve rapidly once the coronavirus is no longer an issue.

“When this ends, we will have gone through a great deal of suffering, both physically and economically,” he said. “But it will end, and this city is perfectly poised to be the place that people come to re-enter the social phase of their lives.”

PeQueen also believes the Raiders’ move into Las Vegas will help the economy, as well.

“I absolutely agree that when we can all get together in Raiders Stadium,” said PeQueen, “whether or not we’re wearing masks or not, it will absolutely be one of the catalysts back to Las Vegas’s recovery. No question.”

Things are still escalating around the country. It may be a long road for Las Vegas to get back to normal. Eventually, however, that’s exactly what will happen.

How Are Other States Faring?

Relatively speaking, Nevada is doing fairly well in its fight against the Coronavirus. The same cannot be said for many states around the country. New York has just seen its total number of infections rise to 113,704.

New Jersey is also seeing a huge spike in cases right now. Louisiana is experiencing a massive surge in infections, as well. All of these states are seeing their economies suffer significantly. The gambling industries here are hurting significantly.

All of New York’s land-based casinos are shut down. Over in New Jersey, the world-famous Atlantic City is closed down. Many believe this will continue for at least the next four weeks. The restrictions may last for months.

Some states are managing to fare better than others. As we’ve already seen, however, things can change extremely quickly. We’ll need to wait and see how health officials around the country try to tackle the virus.

The Las Vegas economy is still suffering. Many are out of work here and it may be some time before the casinos are able to open up again. Hopefully, the city experiences a wave of tourism once things clear up.

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

Casino Stock Prices Jumped This Week

The land-based casino industry is in a very unusual place. The new coronavirus has shut down all casinos in the United States and it’s unclear when these gambling venues will begin opening up again. Interestingly, we’re beginning to see casino stock prices jump.Paper On Stocks And Shares

There are several reasons why this is. Today, we’re going to look at the state of the US casino industry. We’ll also talk about why stock prices are beginning to increase.

Let’s get into it!

Casinos Around the United States Remain Closed

The US is known for having one of the largest and most successful casino industries in the world. A huge number of states around the country operate major casinos. Many of these gambling venues help to bring the state valuable revenue every single month.

Unfortunately, all casinos across the country are now shut down. As the coronavirus began to spread, most states started to close their casinos down. With cases now confirmed in every single state, the entire US land-based casino industry is now shut down.

This includes all the casinos in Las Vegas. This city, known as the gambling hub of the world, has seen all of its gambling venues close down. This is costing many major casino companies here millions of dollars every day.

No one knows when the country’s casinos will be able to open again. Health experts warn that this situation may play out for months. We’re seeing thousands of new cases of Covid-19 emerge every single day.

The recently-passed stimulus package is expected to help many US casino companies. Some are still worried about the future. This week, many of these companies saw their stock prices rise considerably.

Why Did Casino Stock Prices Recently Increase?

As you may already know, the stock market has been extremely volatile lately. We’ve seen almost all stock prices plummet over the past few weeks and this trend may continue for the foreseeable future. This week, however, we saw casino stock prices jump.

Perhaps most notably was Eldorado Resorts, whose stock rose by an incredible 26.4% at one point before closing at 19.5%. Caesars Entertainment also saw a quick jump of 17% before settling at 5.3%. Part of the reason for this jump is the impending merger between these two companies.

Back in June of 2019, these two companies officially agreed to merge. Eldorado paid billions to acquire Caesars and the companies have been working to gain approval from various state gambling commissions ever since. As of now, the deal is set to finalize in June of this year.

The aforementioned stimulus package may have also helped these stock prices increase, as well. Several companies have expressed relief that the federal government is offering emergency aid.

Penn National Gaming also saw a major stock price increase of 15.8% before it settled at 8.5%. This company recently sold a major property in Las Vegas which is expected to help the company over the next few months.

More and more US casino companies are now looking at Macau as the saving grace right now.

Macau May Prove to Be Extremely Valuable for US Casino Companies

Macau is another one of the world’s biggest gambling hubs. It’s a small Chinese territory that’s home to a huge number of multi-billion dollar casino resorts. Several of the biggest US casino companies operate casinos here including MGM Resorts, Wynn Resorts, and Las Vegas Sands.

For a time, all the gambling venues in Macau were closed to the public. That is no longer the case and this city is now extremely valuable for US casino companies. The casinos here may be the only ones able to bring these companies revenue.

This isn’t happening right away. Tourism into Macau is still extremely low. As a result, the casinos in this city are struggling hard to bring in money.

Hope is that this changes soon. If more visitors from mainland China begin flocking to Macau, this city can help to protect many of the biggest US casino companies. An increase in gambling revenue here may also lead to casino stock prices increasing massively once again.

Things continue to get stranger every single day. We’ll need to wait and see how US casino companies manage to deal with the new regulations over the next few months.

Stay tuned for updates on this situation!

MGM Resorts Delays Move into Japan Due to Coronavirus

In 2018, lawmakers in Japan officially approved a bill to allow three casino-resorts to open in the country. As a result, almost all major casino companies in the United States are trying to break into the Japanese casino industry. According to new reports, MGM Resorts is now delaying its move into the city of Osaka.MGM Resorts Logo

It’s been a long road to start building casinos in this country. With the spread of Covid-19, things have gotten even worse. Today, we’re going to look at why exactly MGM is choosing to stay out of Japan right now.

Let’s get into it!

Japan Continues to Work On Casino Regulations

For many years, Japan had very strict gambling laws set in place that prohibited all casinos. In fact, the laws here banned almost all traditional forms of gambling. In mid-2018, things took a major turn in this country.

That year, lawmakers in Japan decided to legalize casino-resorts. The government announced it would allow three gambling venues to start operating in three different cities. As of now, it looks like Tokyo, Osaka, and Yokohama are the most-likely cities to open casinos.

It was unclear when the first gambling venue would open in Japan. Lawmakers in the country wanted to ensure that issues like gambling addiction and crime were avoided. Since passing the bill, government officials have been working to come up with specific regulations for the country’s casino industry.

Back in December, news broke that Japan was studying the Las Vegas casino model for guidance. It makes sense, as Las Vegas is home to many of the biggest and most successful casinos in the world. This process is still taking place.

Most analysts predict that it will be years before the first casino-resort in the city opens up. Due to the spread of Covid-19, things may be pushed back even further. It now appears that one of the biggest casino companies in the US is postponing its move into the country.

MGM Resorts Offers New Timetable for Osaka Casino

MGM Resorts International is one of the largest casino companies in the world. It operates several major casino-resorts in Las Vegas and has been pushing hard to gain a casino license in Japan. This company has not been granted an official license to run a casino-resort in Osaka yet almost all experts agree that it will eventually be granted the license.

Unfortunately, it may take longer to open a gambling venue in this city than initially expected. City officials have scrapped plans to open the casino-resort by 2025. Now, it appears that MGM plans to build a casino here in 2026.

Ed Bowers, CEO of MGM Resorts Japan LLC, claims that the spread of Covid-19 is not affecting plans to open a casino in Osaka.

“MGM will continue to proceed with our efforts to create a proposal that will be appreciated by the entire Osaka community, taking into account the schedule announced by the government,” he said.

The new coronavirus is already taking a massive toll on the land-based casino industry around the world. In the US, all casinos are now shut down. This is costing many US casino companies millions of dollars every single day.

Other countries in Asia are just beginning to open their casino industries, yet it does not appear they’re bringing in much revenue.

Macau Casinos Struggle to Bring in Players

China was the first country hit by the novel coronavirus now spreading around the world. Within weeks, officials decided to close down all of the casinos in Macau. This was devastating to the local economy, which relies almost entirely on tourism and gambling revenue.

The closure of these Macau casinos also impacted many US casino operators. This includes the aforementioned MGM Resorts International. Just recently, officials in Macau decided to reopen all of the casino-resorts in the city.

Unfortunately, these casinos are having an extremely difficult time generating revenue. There are still heavy restrictions set in place in Macau. Very few gamblers are now flocking to this city and some casinos are in danger of failing.

In time, however, Macau may prove to be the saving grace for some US casino companies. As we’ve already mentioned, all land-based casinos in the United States are now shut down. Many with property in Macau are now relying on the city to help make up for the revenue they are losing in America.

MGM Resorts doesn’t expect to open its Osaka casino anytime soon. At the moment, this company is likely focused on surviving while its US properties are shut down.

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

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!

Macau is an Important City for Las Vegas Casino Companies

The city of Las Vegas is essentially shut down right now. As the coronavirus began taking hold in Nevada, the governor decided to shut down all of the state’s gambling venues. Many analysts now predict that Macau will be an extremely important city for Las Vegas casino companies.Wynn Resorts In Macau

No one really knows when Las Vegas will get back to normal. Covid-19 infection rates continue to increase around the country. Today, we’re going to look at why Macau will prove to be such a valuable location for so many casino operators.

Let’s get into it!

Las Vegas Remains Shut Down Due to Covid-19

Las Vegas is one of the most heavily visited cities in America. People from all over the country flock to Sin City for its entertainment, dining, and gambling options. As the coronavirus began to infect individuals in the US, many felt it was only a matter of time before Las Vegas began taking a hit.

Within just weeks, tourism numbers in the city started to plummet. Several major casinos began announcing they were temporarily closing. Eventually, Governor Sisolak ordered all non-essential businesses in the state, including casinos, to shut down until further notice.

This is proving to be devastating for the Nevada and local Las Vegas economy. It’s well-known that Las Vegas relies on its tourism and gambling industry. A huge number of individuals here are employed in these industries and many have already lost their jobs.

The scary thing is that no one knows when things will get back to normal. Most health experts believe we’re just beginning to see things escalate. It may take months before we reach the peak of infections. Even then, we may see additional infection waves come and go for months afterward.

Las Vegas casino companies have a lot to think about right now. Some may eventually be forced to make tough decisions regarding their properties. Hope is that Macau can help to make up for some of the revenue lost in Las Vegas.

Can Macau Help to Save Las Vegas Casino Companies?

No one disputes the fact that Las Vegas is the gambling hub of the United States. Over in Asia, however, Macau is where all the big players make their bets. This city, technically controlled by Mainland China, is home to a huge number of world-class casinos.

Some of the biggest Las Vegas casino companies operating today run gaming venues in Macau. This includes MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Unfortunately, Macau was recently forced to shut down due to Covid-19, as well.

Over the past few months, infection rates in China and Macau began to drop. Officials in Macau began allowing casinos to open once again. Things are far from normal here, yet it seems like only a matter of time before the casinos in this city are profitable once again.

Some analysts now feel Macau may become extremely important for the big casino operators in Las Vegas. If Nevada continues to keep casinos shut down, the venues in Macau may become these companies’ only real source of revenue.

It’s not going to happen overnight, though. Today, Macau announced a ban on all non-residents from entering the city. Officials here want to ensure that another outbreak does not take place. It’s unclear when this ban will be lifted.

How Will Macau and Las Vegas Fare in the Coming Months?

The entire world is in an unprecedented situation right now. Due to new regulations being set in place, nearly ⅓ of the entire world population is under lockdown. Some equate the measures to what was taking place at the height of World War 2.

A huge number of industries are taking a major hit. Many airline companies are likely to go under. Restaurants around the world are being forced to lay off employees. Even some of the biggest Las Vegas casino companies are concerned about what may happen in the future.

For now, Macau is in a better position than Las Vegas. When casinos closed here, it cost many casino operators millions of dollars a day. Now, things are slowly reopening. If tourism is opened here once again, however, more Covid-19 infections are likely to begin appearing.

The land-based casino industry in Las Vegas may be shut down for many months. Infections in the US are skyrocketing and casinos are unlikely to open here anytime soon.

Hopefully, Las Vegas casino companies can hold out while the coronavirus runs its course. In the meantime, Macau may prove to be the most valuable destination for gambling operators. We’re receiving updates every few hours and things are constantly changing.

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

Macau’s Casino Revenue Plummets Due to Coronavirus

Covid-19, the coronavirus that emerged in Wuhan, continues to spread around the world. This virus has already taken a massive toll on Macau. According to new reports, Macau’s casino revenue has plummeted due to officials closing down the city’s casinos.Revenue Drop Picture

This is beginning to hurt Las Vegas casino companies, too. Today, we’re going to talk about how much revenue was lost here last month. We’ll also discuss what’s in store for the future here.

Coronavirus Forces Casinos in Macau to Close Down

The Wuhan coronavirus, called Covid-19, first appeared back in December. Since that time, it’s gone on to infect more than 90,000 people and has already killed more than 3,000. Despite containment efforts, it’s spread to about 70 different countries.

Scientists are having a difficult time understanding this respiratory virus. It’s shown a unique ability to spread from person-to-person. Some claim that it’s reaching a pandemic level due to the fast spread around the world.

Covid-19 has taken a major toll on Macau’s economy. Back in February, officials in the city decided to close down all casinos in order to prevent more infections. This was a tough decision for the territory leaders, as Macau relies heavily on gambling revenue.

These casinos have since reopened. Government officials are requiring all staff and gamblers inside these gambling venues to wear face masks. Unfortunately, tourism in this city is at an all-time low and revenue is plummeting.

This isn’t surprising. Not long into the outbreak, analysts began to predict that Macau would be heavily impacted. Revenue reports are just coming out and it’s just now becoming clear how much of an impact the coronavirus is having here.

Macau’s Casino Revenue Was Lowest in History Last Month

Macau is one of the world’s biggest gambling hubs. A huge number of world-class casinos are located here, some of which are operated by major Las Vegas companies. Closing down these gaming venues had a significant impact on the territory’s economy.

Macau’s casino revenue dropped by 87.8% in February when compared to the same month last year. That’s the biggest drop ever recorded. This revenue decrease is directly related to the casino closures.

On the surface, things look pretty grim here. Not everyone is convinced that these revenue drops will continue, though. An analyst at JP Morgan Chase commented on the situation to the media this week.

“We do not think COVID-19 will curb gamblers’ enthusiasm… so its impact on the industry’s sustainable earnings power should be limited,” the analyst claims. 

That may be wishful thinking. Cases of the coronavirus are beginning to slow down in China. Unfortunately, infections continue to spread in new countries. With the casinos in Macau now reopened, it wouldn’t be a surprise to see new cases hit this territory.

Hopefully, Macau’s casino revenue bounces back in March.

How is the Coronavirus Affecting LV Casino Companies?

The coronavirus has already spread to several US states. In Washington, two people have been killed by the virus. Many feel that it’s just a matter of time until a major US city is hit.

As of now, no cases have been recorded in Las Vegas. That’s surprising to some, considering this is one of the most-visited cities in the country. That doesn’t mean that casino companies based here are unaffected, though.

As Macau’s casino revenue drops, so does that revenue that Las Vegas casino companies are earning. The closure of this territory’s casinos cost several companies millions of dollars every single month. Even now that they’re open again, revenue in this city remains incredibly low.

If the coronavirus begins to spread in Las Vegas, things will get considerably worse. Like Macau, the city of Las Vegas may begin forcing casinos to close their doors. That would be devastating to the local economy. Officials here are already coming up with ways to prepare for an outbreak of the virus.

It helps to be optimistic in this situation. Countries around the world are ramping up their containment measures. We’ll need to wait and see how long it takes for the virus to run its course.

Make sure to stay tuned for more updates over the next few weeks!

MGM Springfield Continues to Disappoint

In August of 2018, MGM Springfield officially opened its doors to the public. Since that time, the Springfield, Massachusetts gambling venue has struggled to generate revenue. Officials within MGM Resorts International spoke about the low revenue figures to the media this week.MGM Springfield

This venue has been a major disappointment for one of the country’s biggest casino operators. Today, we’re going to talk about why this is. We’ll also discuss what steps MGM may take to change this downward trend.

Let’s get into it!

Massachusetts Proves to Be a Difficult Casino Market

For many years, lawmakers in Massachusetts banned all forms of casino gambling. In 2011, the state finally agreed to a set of laws that allows three new land-based casinos to open. In 2018, MGM Resorts International opened the state’s first gambling venue in the city of Springfield.

Expectations for this venue were high. Many considered Massachusetts to be one of the most lucrative new casino markets in the country. By the time MGM Springfield opened up, almost everyone agreed it would be extremely successful.

For a time, these theories were correct. MGM Springfield drew in many visitors early on and began generating serious revenue. As time went on, however, these earnings began to drop. One reason for this was the opening of Wynn Resorts’ Encore Boston Harbor casino-resort.

This new casino instantly captured a huge portion of the MA casino market. Many gamblers who previously gambled inside MGM Springfield began making the switch to the Encore. It was a tough break for MGM Resorts International, who didn’t anticipate their market to be taken over so quickly.

Despite the company’s best efforts, things don’t seem to be improving for MGM Resorts. A company official spoke about this disappointing performance to the media this week.

MGM Springfield Still Struggles to Generate Revenue

MGM Resorts International has been undergoing some massive changes in recent months. Last year, the company sold some of its biggest properties in Las Vegas. Just last week, CEO Jim Murren announced he’s stepping down.

There’s a lot to juggle here. Murren is continuing to run the company until a replacement is chosen. This week, Murren commented on the MGM Springfield property and doesn’t seem pleased with the venue’s performance.

“MGM Springfield has admittedly performed below our expectations, and we’ve recently made some changes there to better position the property,” he said. 

It’s surprising for some to hear that MGM continues to invest in this venue. Many expected the company to sell it and simply take the losses. That does not appear to be the case.

For now, MGM Resorts International wants to continue running its only Massachusetts property. With some changes, perhaps this venue can once again capture the state’s market.

Massachusetts isn’t the only area that MGM is continuing to invest in.

Macau May Soon Become Profitable Again For MGM Resorts

Macau is one of the world’s largest gaming markets. Many of the world’s top casino companies invest in property here, including MGM Resorts. Unfortunately, revenue from this territory has been dropping for more than a year.

Throughout 2019, tourism in Macau was down. The US-Chinese trade war had taken a toll on China’s economy, causing fewer nationals here to gamble. Macau relies on Chinese high rollers and as less began visiting here, revenue started to tumble.

Recently, the coronavirus has hurt this territory. As the 2019-nCoV virus spreads throughout China, less people are able to travel into Macau. Recently, officials in this territory decided to shut down all the casinos in order to prevent infections.

This casino shutdown is costing companies millions of dollars a day. It finally seems as if infection rates are beginning to even out and Macau may finally become a profitable casino market once again. Several investment groups have recommended people buy stock in MGM Resorts as the Macau situation improves.

2020 will be an important year for MGM Resorts. Hopefully, the company’s new CEO can be even more successful than Jim Murren.

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