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How Much Will the US Economy Lose Because of Casinos’ Close for Quarantine?

20 March 2020, 12:21
Votes: 1

It goes without saying that the COVID-19 pandemic has influenced the economy of most countries and the US isn’t an exception. Recently, the American Gaming Association (AGA) has provided the approximate figures showing how gambling establishments’ close can impact the US economy.

How Much Will the US Economy Lose Because of Casinos’ Close for Quarantine?

According to casino news in the world and information from the AGA, 94% of casinos closed the doors for its visitors because of Coronavirus in the US. It means that more than 500 000 workers have left without a job. Now the Congress members consider the situation with employees and try to find ways how to support people during this hard time.

Will the US economy suffer much from casinos’ shut down?

First of all, it should be mentioned that the total financial loss for casino employees is estimated at approximately sixty billion dollars per year. In addition to this, the tax income from the casino industry is something like thirty-five billion dollars annually. Local cafes and restaurants are also influenced by the casinos’ profit.

By reference to the fact that gambling establishments are closed for 8 weeks, such conditions may lead to a $21.3 billion gap in the US economy. These figures are just prognosis based on the AGA’s calculations. However, taking into consideration that the gambling market is tightly connected with other businesses, the probability of such outcome is very high.

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