GAME BENEFITS OF CASINO NEVADA REDUCED TO 40%.
Last week, the Nevada Gaming Control Board reported that the profit margin of Nevada casinos in March 2020 fell by almost 40% compared to the same period last year. Income from players to the state in March amounted to 618 million dollars. This is 39.57% less than in March 2019, when the casino brought in $ 1.022 billion.
The reason for the huge decline in gambling revenues in Nevada is the closure of all casinos in the state since March 17, in order to prevent the spread of coronavirus.
The Nevada Casinos have different types of customers in different parts of the state. High rollers and large casino corporations are mostly found in Las Vegas. Downtown Las Vegas and suburban casinos serve the majority of tourists and residents.
In addition to the fact that there are different casino operators, guests play different games and have different budgets. In March, the Vegas Strip casino won $ 299.9 million. This is 45.67% less than last year.
As for the casinos in downtown Las Vegas, they have not suffered so much in percentage terms. These casinos have won $ 43 million. This is only 25.92% less than the previous year.
The NBA betting season was also suspended five days before the casinos were ordered to close. Other major sports, including the NCAA Basketball Tournament, known as March Madness, followed suit with the NBA.
During the March Madness, Nevada sports bookmakers lost one of their largest cash generators. In comparison, the entire NCAA basketball tournament usually brings in the same amount of money as the Super Bowl.
Sports bets in Nevada fell significantly by 76.3% compared to March last year. It has been the lowest monthly rate for Nevada since 1993.
Without March Madness, Nevada sports bookmakers won just $ 1.5 million out of the $ 141 million staked in March – 95.5% less than a year ago.
With regards to the April gaming income in Nevada, things are even worse. Although the casinos were closed in mid-March, they remained closed throughout April. In addition, video poker and slot machines in bars, taverns, supermarkets and gas stations have also been disabled.
The only gaming income in Nevada for the month will be received from one of the following sports betting apps that remained open for a month:
But here to take advantage of the opportunity to place a bet, remained only for regular players, since firstly the player must visit a regular casino to create an account for sports betting. Since the casino is closed, creating and financing new accounts is not possible.
Nevada does not have full online casinos, such as New Jersey or Pennsylvania, but there is online poker here. WSOP.com, which also worked while regular casinos were closed.
Casinos in Nevada won’t be open until the end of May.
MGM Resorts CEO Bill Hornbuckle said that the company will open facilities in several stages. Bellagio and New York will be the first two MGM Resorts casinos which will be open in Las Vegas. Another casino may be open depending on demand.
MGM Resorts does not yet have a health plan for its visitors to open establishments. Previously, MGM Resorts reported that casino floors must be reconfigured to ensure the correct distance between players. This means that fewer board games will be hosted and fewer slot machines will be available at one time. As a result, we understand that even after the opening of the casino, gaming income will be lower in any case.