by Inga on September 4, 2020

MGM, Caesars, and Wynn are recovering at the record speed

If you are a gambling lover you definitely know these gambling giants, MGM, Caesars, and Wynn. And if you are human you definitely know about the ongoing pandemic that has shattered the gambling industry, since casinos ended up being among the first establishments to close down since they are often the most crowded.

Over the last few months, the gambling industry has suffered major losses, with casino letting go of thousands of employees having to live n the darkness about when the possible reopenings might start. And even though according to many we are now in the middle of the second wave, casinos have been gradually opening back up and it has proven to be way faster than most of us anticipated.

Some of the biggest names in the gambling world like Caesars, MGM, and Wynn are growing almost 50% a month, a statistic that is anything but predictable. Turns out that people have been dying to go back to the casinos and now that they have their chance, they are spending much more than before. While some casinos are struggling to fill out their seats with clients, those that do end up going are spending a lot more than they used you. It’s safe to say that these players have missed their traditional casino settings and are thirsty for some gambling actions.

The main reason why some casinos haven’t been getting as many spending customers is that people are still concerned about the COVID-19- and going to public spaces, which is understandable. Casinos have been ordered to implement safety measures, limiting the number of people that can be in the casino at the same time, limiting the number of tables, and expanding the space between them. Most casinos have also halved the number of slot machines in their establishments because the standard setup doesn’t allow for the social distancing measures to be implemented, This has of course taken a toll on the profitability of gambling venues, but we are now learning that the casinos seem to be recovering just fine.

While none of these mentioned casinos are at the top of their games, the speedy recovery is giving these establishments a hope for the better couple of months that lay ahead. Since we have learned so much about the COVID-19 over these few months there is a chance that even if the second wave gets bad, there will be no need for us to go into full lockdowns and close casinos and other public spaces yet again.

For the casinos that have suffered such huge losses, this is definitely a  positive statement, since so many of the casino workers have been asking to get back to work for months now. The casino employees are talked about much less frequently than the casinos themselves but actually it was the casino workers that suffered the most since so many of them were let go without any further commitment or hope for the return.

The news about the growing profits of the casinos is a great place to start and hopefully those who lost their jobs to the pandemic will now be able to go back.

By Inga

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