Corona: Casinos in Atlantic City vor Fiasko

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Peter Brandt 13. May 2020

Now the economic negative consequences of the Corona crisis have also reached Atlantic City. Many large US casinos face economic ruin. Somewhat more drasty could even be said that the entire gambling industry of the US state of news jersey is worried about its future. However, this applies not only to the numerous hotel, catering and casino complexes in Atlantic City, but also to the numerous people who work in the industry. Over 25,000 employees have already lost their jobs last month. The industry again asks the US government for financial support.

A crisis has long been crisis for Trump casinos like the Taj Mahal in Atlantic City. Due to the Corona crisis, other casinos are now concerned with existence. ((©️BruceEmmerling/Pixabay)

Historically largest crisis for casino operators in New Jersey

Probably no company on the globe should still be able to claim, not in any way of the Effects of Corona pandemic to be affected, whether positive or negative. Of course, this also applies to the gaming industry in the USA, or possibly even in particular, especially for casinos that hardly or even do not do their business in the digital industry.

For many US casinos in the state of New Jersey It is currently particularly bad. Especially in Atlantic City, the tourist stronghold on the Atlantic coast in New Jersey, it is currently particularly bad about gambling halls – even names that have been prospering for decades. Because similar to in the gambling stronghold Las Vegas There is currently a standstill at the gaming tables.

In the meantime, the situation is so serious that the entire gambling industry in the state, which is heavily dependent on tourism, could collapse. According to a report by the New York Post they get Losses of all casinos in Atlantic City to around $ 540 million – and that monthly.

Even the big names of the casino industry cannot collect such high sales losses, at least not over a longer period of time. The greatest crisis and challenge are already being spoken of in 42 years since the legal gambling in New Jersey are to be mastered. Now the casinos are turning to the US government.

“Undoubtedly, the gambling industry in New Jersey has to struggle with extreme economic consequences of the Corona crisis, which is simply to be justified by the fact that the entire state of New Jersey is in second place in the US concerned. For many Americans, Atlantic City or the entire state is therefore an unofficial restricted area. Tourism is therefore out of the question. Thus, there will probably be no improved situation in the foreseeable future for local casinos. ”

Can and will the US government support casinos in Atlantic City?

Many companies based in New Jersey, including not only casinos, of course, Reminds your current situation in 2012. At that time, the hurricane Sandy caused devastating damage to the entire east coast of the United States. Unlike today, however, it was known at the time that the worst was over, and you could make relatively safe forecasts for your own future.

This is currently very different. The United States under President Donald Trump, who is still closely tied to the gambling economy in Atlantic City, is one of the nations worldwide that are most struggling with containing new infections with COVID-19. Consistently stand In addition to the gambling industry, numerous other industries in front of an economic fiasco.

US casinos have already ed the government and Trump several times and asked for financial support. Ultimately, not only companies are facing the end, but also thousands of jobs. In the second half of the month in March Casinos employees lost their job in Atlantic City.

But it could even get worse. Because, according to the American Gaming Association (AGA), the end of the gambling industry in New Jersey could have sustainably devastating consequences for the entire economy of the state – a downward spiral that can only be stopped if help is provided directly. With Gambling has an enormous share of the economic power of the entire state of just under $ 6.5 billion New Jersey.

“At the moment we are focusing on working with the government so that all areas of the industry-from gaming hubs such as Las Vegas and Atlantic City to regional and tribal gambling facilities, suppliers and small companies (…)-have the opportunity to to survive this unprecedented public health crisis. ”