Gaming Industry Execs Reject Notion that Land-Based Casinos are Dead
Land-based casinos struggled greatly during the 2020 pandemic. But industry executives are rejecting any whim that online is the hereafter of gambling.
After the coronavirus invaded the US betimes cobbler's last year, nearly every brick-and-mortar commercial message and tribal gambling casino shuttered. While physical slot machines were powered pile in mid-March of 2020, interactive gaming sites reported tape growth.
Casino operators in Keystone State and New island of Jersey — 2 states with full online gambling casino gambling — were stock-still capable to generate revenue gaming revenue (GGR) during the springtime and summertime 2020 shutdowns of their land-based gaming operations.
Rumblings have been circulating lately that the pandemic testament effectively render land-based casinos obsolete. But in the wake of COVID-19 vaccines beingness distributed and lifetime slowly kickoff to proceeds to normal, manufacture experts say opinions that brick-and-mortar casinos are a thing of the yesteryear are unfounded.
Alive and Well
The National Council of Legislators from the Gaming States (NCLGS) hosted a webinar last calendar week titled, “Land-Based Gaming: Still Expanding.” The superior general judgement from the five-person panel moderated by NCLGS President and Nevada Sen. Keith Pickard (R-District 20) was that brick-and-mortar gaming is poised for a ready comeback.
Rumors of the demise of land-based gaming are greatly exaggerated. Not only when that, they are completely wrong,” stated Howard Glaser, world-wide top dog of governance affairs and special initiatives at Scientific Games.
The Cordish Companies is on a bullish lead of investing inward its stream casinos, as fountainhead as remaining staunch to opening night ii unexampled gaming properties inward Pennsylvania. The Baltimore-based casino operator opened its orbiter locale Live! Casino Pittsburgh in Westmoreland, Pa., in November. Cordish opened Live! Casino Hotel Philadelphia, a $700 trillion structured resort, earlier this year.
“We put our money where our rima oris is inwards terms of the strength of holiday resort destinations in regional markets,” said Joe Weinberg, Cordish Gaming’s CEO.
Recent revenue reports paint a picture the panelists are right inwards predicting a ready COVID-19 recovery for land-based casinos. In March, casinos in Maryland and Keystone State enjoyed their topper GGR month ever, and Atlantic City and Nevada posted their topper gaming months since the pandemic began.
Demand Fueling Recovery
During recent quarterly earnings calls, gambling casino executives told analysts and investors that they’re experiencing a getting even of visitors.
Caesars Entertainment CEO Uncle Tom Reeg revealed that the company’s weekend hotel rooms inward Las Vegas “are sold come out for the foreseeable future.” It’s 1 reason out wherefore Reeg said Caesars made the decision not to sell any of its casino holdings in Southern Nevada.
MGM Resorts, the largest employer inward Sagebrush State and operator of the most casinos on the Strip, said it, too, is taking an abundance of bookings.
Our gross bookings inward March were 1 of the best months inwards the company’s history, clear backed by pent-up leisure time and casino demand,” Hornbuckle explained.
Penn National Gaming reported a book canton to kick-off 2021.
“At our land-based operations, the momentum has continued next the rollout of vaccines and the on-going relaxation method of COVID-19-related restrictions crossways the country. Our enter first-quarter results highlight the robust retrieval inward our land-based business,” said William Penn CEO John Jay Snowden.