WASHINGTON, D.C. (KLAS) — It’s no secret the gaming industry is one of the hardest hit by the COVID-19 outbreak. Illustrated by the nearly unprecedented shutdown of the Las Vegas Strip, billions of dollars could possibly be lost over the next few weeks and months.
According to the American Gaming Association (AGA), 95% of the country’s 465 commercial casinos and 76% of the country’s 524 tribal casinos have closed their doors. An estimated 616,000 casino gaming employees are now prevented from working.
The AGA estimates the closures could cost the U.S. economy about $43.5 million over the course of the next eight weeks, if the casinos are required to stay closed for that long.
The AGA also offered these statistics if the closures continue for the next eight weeks:
- Casino closures risk nearly $74 billion in total wages annually for workers and their families.
- Casino gaming supports $41 billion in annual tax revenue and tribal revenue sharing nationwide – essential support for local hospitals, first responders, and vital public services.
- Half the jobs our industry supports are at non-gaming businesses such as restaurants and local shops – all will be dramatically affected by a local casino’s closure.
- Casino gaming is vital to local small businesses, delivering $52 billion annually in small business revenue, including construction, manufacturing, retail, and wholesale firms.
More information on COVID-19’s impact on the gaming industry can be found HERE.