Just a few months ago, everything was normal, and people went on with their daily routine without much disturbance. Although there has been some talk of a coronavirus pandemic happening in China, people just took it in stride. Now the seriousness of the virus has hit everyone like a sledgehammer, and everyone is suddenly thrown into a new reality.
All over the world, cases have jumped up to nearly two million in the span of a few months with deaths at the hundreds of thousands. Businesses severely hit are entertainment industries such as the land-based casino industry of Las Vegas, which everyone thought to be immune until now. For the first time, Las Vegas casinos are shutting down, and gambling fans have to look elsewhere for entertainment.
Land-Based Las Vegas Casinos Will Struggle
The pandemic has forced people into quarantine for their own good, and since 2020 is far from over, there is still some hope for Las Vegas casinos turning a profit. However, the casino industry has been severely hit by the pandemic, and the future still looks unpredictable and uncertain. There is no certainty as to how long the pandemic will last.
Meanwhile, US authorities have forced the shutting down of crowded places like gambling establishments in Las Vegas. At first, this was seen as a temporary measure, but as the number of cases of COVID-19 has increased, the directive may last for several more months, which may prove disastrous to the industry.
In fact, according to analysts, the largest casinos in Las Vegas have taken a massive hit to their stock prices. Smaller casinos are in even more in trouble. A business needs to have liquid resources, as if they only depend on cash flow, they may end up going bankrupt. Before the pandemic, Las Vegas casinos paid good money in taxes but now, they are struggling to stay afloat.
Even before these casinos were ordered to shut down, they had already have been experiencing a downturn with customers voluntarily staying away from crowded places and practising social distancing. Travel also took a hit, so tourists who want to see the glamorous city and casinos of Las Vegas are unable to do so.
People are, for the most part, cooped up in their homes and depend on the internet for their entertainment needs. Despite the lockdown, people are still looking for fun and entertainment as web traffic on online casinos can attest. Although land-based casinos in places like Las Vegas are struggling, online casinos are thriving, especially the best slot sites.
People are confined indoors and have a lot of time to kill, and for some of them, they consider playing some online casino games to pass the time. There are now thousands of sites available online for people to play on with an even greater number of games available. As technology has advanced, making and receiving payments online has become even easier, quicker and safer. A lot of casinos now accept eWallet payments, like Skrill and Neteller. But perhaps the most popular is PayPal. There is a huge choice of PayPal casinos now available online. You can of course still make deposits using traditional debit cards and bank transfers as well.
Online casinos have becoming increasing popular over the last few weeks, as land-based operators can’t accept customers at this time. Land-based operators are also dependent on crowds and a steady audience to make a profit, something which is impossible in these uncertain times.
The pandemic shows that technology is an essential tool in times of crisis. Although certain industries suffer, industries that depend on technology remain resilient. As more and more people are forced to stay in their homes, the surge in online gambling is predicted to be something constant in the months to come as people search for alternatives to land-based entertainment.