Casino player development strategies

Huge part of the US casinos facing a bankruptcy because of COVID-19

The casino industry is currently in deep trouble because of the COVID-19 pandemic. And we have numbers to prove it. We took a look to the news while we were preparing some more casino playerdevelopment strategies. So let’s see what the numbers tell us.

According to report from the Macquarie Research, US casino have between 5.2 and 14.3 months before they completely run out of cash. Many of them might seek bankruptcy protection as the coronavirus is killing their business.

We are going to give you some scary numbers as examples here. According to Macquaire Research’s report, MGM Resorts International is burning around 14.4 million dollars daily because of the COVID-19 pandemic. Meanwhile Penn National Gaming is burning 6.4 million daily and they have a little more than 5 months before they completely run out of cash.

It’s quite similar for the Century Casinos, Monarch Casino & Resort and Full House Resorts, who have between 5 and 14 months before they got empty of cash. It’s believed that Golden Entertainment’s losses are equal to 1 million dollars daily.

According to the finance professor Richard McGowan from the Boston College, casino industry was “way over-leveraged” even before the arrival of the pandemic. “The virus is attacking like a person who was compromised even before contracting the virus”, said professor McGowan.

He also stated that it’s “quite easy to predict” that the casinos will run out of cash, simply because they do not have cash flow at the moment. As you know, people are staying home now and casinos are not working, which is killing the business for them.

Professor McGowan said that right now it’s quite critical for the casino business to recieve a federal aid in order to survive.

These are some of the latest news regarding the casino industry in a time of a COVID-19 crisis. Meanwhile we will continue to bring you our excellent casino player development strategies, so stay with us.