The impact of Coronavirus on gambling industry of New Mexico and Las Vegas

The rapid spread of coronavirus has sent financial shock waves throughout the globe, with everything ranging from stock markets to retail outlets starting to feel the heat. With people avoiding big gatherings, casino businesses in specific are showing signs of going into recession. Macau, the gambling hub of Asia witnessed the biggest ever drop in revenue in the month of February recently. Las Vegas isn’t faring very well either. Let’s briefly go over how Covid-19 is impacting the gambling industry in New Mexico and Las Vegas in particular.

New Mexico Casinos

Casinos based out of New Mexico are doing everything possible within their means to protect their customers and staff from the coronavirus pandemic. While Isleta Resort & Casino is planning to go ahead with the scheduled events, including music concerts, they are taking all kinds of precautions. Efforts being put in this regard include installation of over 100 hand sanitisers and extra-thorough cleaning of the facility.

Sandia Resort & Casino on the other hand has brought on board a special medical team that will take everyday decisions regarding the health and safety of the casino staff and guests. Apart from the ongoing cleaning efforts at the resort and casino, they have installed special sanitation stations and are making gloves available for staff members and guests involved in the buffet. All international and domestic travel has been stopped.

Buffalo Thunder Resort Casino, Jake’s Casino and Cities of Gold Casino in Pueblo of Pojoaque have been shut down as a precautionary measure to facilitate social distancing. Talking to the press, the governor of Pueblo of Pojoaque said that the safety and health of their community, guests and team members has always been their top priority. Although casinos have been closed, the hotels in Pueblo will continue to remain operational. In addition, all the employees will continue receiving their salaries during the closure time.

The state of affairs in Las Vegas

At the other end in Las Vegas, coronavirus has sparked plenty of fear and has resulted in rapid closures of events and businesses in the Sin City. It should be noted that a considerable amount of Las Vegas revenue is generated from activities that don’t have much to do with casinos and gambling in general. Around 17 conferences, with an estimated attendance of 290,000+ people have been cancelled so far. Here’s a roundup of all the major events that have been cancelled in the US till date.

March madness (NCAA Basketball Tournament) which brings a lot of money into Las Vegas was also suspended recently. Gamblers bet to the tune of around $ 350 million on NCAA, through Cosmopolitan Sportsbook and various other bookmakers in Las Vegas alone.

Visitors to Southern Nevada spent around $ 34.5 billion in 2018, and directly supported over 234,000 jobs in the tourism industry. Conventioneers on the other hand supported 42,800 jobs. With major events getting cancelled every hour and travel plans getting slashed, the impact of coronavirus on Las Vegas’ economy could be tremendous to say the least.

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