Atlantic City is Losing over 500 Million Dollars Per Month Amidst the Global Pandemic
Imagine walking into a casino and finding it empty. Caesar’s in Atlantic City will be a strange casino to see desolate. The unfortunate outbreak of the coronavirus left hundreds of thousands of people unemployed worldwide. In the US, where the virus spread, has to be the worst country by far. We see a massive hit in the gambling industry.
The Falling of Atlantic City
Since the regulated shutdowns began in early March, casinos are facing financial struggles. Atlantic City is losing 540 million every month. These numbers are overwhelming, losses of the casino industry as a whole have ever seen. What is left is the question of whether the casino industry will be able to bounce back? With so much being lost every month, it seems hard to imagine the scenarios where Atlantic City casinos will be able to bounce back from this.
“We haven’t seen anything play out yet, however, if you look at the economic numbers that are going to come out in the coming weeks, this foretells to be a worse economic downturn than in the great recession.”
Unemployment to Even Rise High
With casinos being closed, that leaves thousands of employees in the casino industry without jobs at this time. Presently, there are about 26,000 people from the Atlantic City casino industry that are now out of work. Unemployment across the US is now hitting the highest numbers that the country has ever seen. It is very tough to see the casino industry going through this; however, they are not the only ones that are affected.
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