COVID-19 causes Vegas casinos to report worst month in 22 years
The current global pandemic is causing substantial problems for Sin City’s casinos
The COVID-19 pandemic is still hitting hard several states in the country as the orders to shut down temporarily all nonessential businesses issued in mid-March will continue to stay in place. Even though the gambling activity in Las Vegas was abruptly stopped back on March 17, gambling operators have to present their financial reports. This last release of financial reports shows a resounding decline of almost 40% in Nevada’s gaming revenue.
According to the Nevada Gaming Control Board, $618.1 million was won by casinos during March, despite the fact that they were opened only 17 days of the month. This is the worst month ever reported in the last 22 years for Silver State casinos, but April, for sure, will bring even worse numbers as all gambling venues were ordered to close the entire month. Also, compared to March 2019, there was a 39.6% drop. This month snapped a streak of three consecutive months collecting a minimum of $1 billion in revenue.
Governor Steve Sisolak gave the first shutdown order back on March 17 that was supposed to be effective for 30 days, but he extended the order for the month of April. Now, he was extended the orders all through May in an effort to stop the virus from spreading further and causing more damage. Not only are casinos shut down, but with zero sports activity running in the country, not even the sportsbooks got off lightly. The NCAA March Madness tournament was one of the most active sports betting events in the country, so casinos lost all that revenue, as well.