GAMING INDUSTRY:COVID-19 IMPACT ASSESSMENT

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Gaming markets worldwide continued to grapple with the effects of the COVID-19 outbreak and related response through the second quarter of 2020. In the latest reporting period, gaming operators navigated mandated casino shutdowns before reopening on a limited basis in a number of states. Not surprisingly, all commercial gaming markets experienced substantial declines in gross gaming revenue.

The second quarter marked the first full quarter in which the global gaming industry dealt with widespread coronavirus-related challenges, such as continued government intervention, decreased travel and tourism and heightened concern for health and cleanliness for employees and customers. The latest industry earnings reports provide some insight into how consumer behavior has been impacted and the adjustments operators have been making in response. While regional domestic markets are likely to fare better in the recovery phase, destination markets like Las Vegas are expected to experience an extended recovery cycle given its reliance on international and convention travelers, along with those that traditionally seek out high-capacity special events (e.g., concerts, sporting events). That being said, there are a number of positives to note heading into the latter portion of 2020 that suggest gaming markets worldwide are already making strides on the road to recovery.

READ THE FULL ARTICLE BY BRIAN R. GORDON, CPA, IN THE FALL 2020 EDITION OF GAMING & LEISURE MAGAZINE.

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