There is quite a bit of talk about how the coronavirus has caused so many land based casinos to close thus giving a boon to Jackpot Capital online casino and all the other online casinos as well. Gamers, of course, don’t care if they win a slot machine jackpot at a land based casino or at an online casino! But there is another side to the coin of land based casino closings. Namely, will these casinos survive the shutdown and what will happen to all the people who have been laid off by the shutdown?
One of the feelings we at Jackpot Capital casino have is that the economic cost of waiting the coronavirus out will devastate many industries. In this article, we will focus on the land based casino business because they are our competition. Healthy competition is one thing but we don’t feel great about benefiting from the closures of land based casinos.
The land based casino industry is not the only one suffering during this crisis. Airlines say that they are on the brink of bankruptcy as well. There is a connection between airlines and land based casinos. In both cases, they have very big structures to continue to pay for and to maintain.
Airlines still have to maintain airplanes and casinos have to clean and keep their casinos, hotels, and all other rooms in top condition so they can reopen immediately after the quarantine is lifted.
The entire travel industry is in bad shape as well. Hotels and motels are empty or almost empty as travel dwindles to near zero. Amusement parks are closed but they, too, have massive infrastructure that requires constant maintenance. Restaurants, bars and pubs, movie theaters and all theaters, sports teams and stadiums, and so much more are closed.
When large economies start to collapse, they start at the top. This includes all of the businesses mentioned above plus banks, investment houses, state and federal pension funds and so on and then it begins to filter down to average people and small businesses.
People who have lost income buy fewer clothes. People who have lost income buy fewer shoes, books, gardening services, and high end goods from the supermarket. People not only postpone trips, they also postpone buying new wide screen televisions, new computers, new telephones and other mobile devices, new furniture, new kitchen items and much more.
The first wave of layoffs leads inevitably to the next wave of layoffs and the process continues until the economy is shattered. So, one might say that the future of the land based casino industry is not so very important when it is compared to the overall economy.
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About six hundred thousand people work in the land based casino industry. How will they pay their mortgages? How will they keep up their car payments? How will they continue to pay tuitions, repay other loans, and continue living the standard of living they have grown used to?
We usually don’t notice just how many people work in a land based casino. The same goes for many businesses that have a lot of space such as department stores and supermarkets. Many of the people who work in these businesses are behind the scenes. Yet, they are there and now they are unemployed.
Even when the closures are lifted, will people immediately start to go to land based casinos or will they play online as they are now becoming used to? People who will be nursing their own economic wounds might feel that a long weekend at a land based casino might not be in the offing this year or next year either.
Casinos may reopen but not to capacity and that may cause some casinos to fail in the end.
Just as Las Vegas has been one of the fastest growing cities in recent years, it can also become one of the fastest declining cities if the land based casino economy doesn’t rebound soon.
To stay healthy in body, we need to stay indoors as much as possible, to wash surfaces as well as ourselves, to maintain as far a distance from each other as possible. To stay healthy in mind we need to have faith in the resilience of the people of the world and of the world economy, to stay focused on the truly important things, and to keep smiling.
In terms of healthy competition with land based casinos, we should at this point remind everyone that our main focus at Jackpot Capital casino is for our gamers to have fun. Fun can cure many ills. Smiling does wonders for people’s overall health.
The people of Italy have shown us all how to take the good even from the very trying circumstances they find themselves in. The Italian people are singing to each other from their balconies.
We should do the same, we should help our families, friends, neighbors, and colleagues as much as we can. We should especially help older people, those in the highest risk group. Shopping for an older acquaintance will put a healthy smile on both your face and on theirs.
Finally, may we all come out of this crisis well. And may the land based casino industry recover enough so that we can go back to having a healthy competition with land based casinos.
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