NORTH AMERICA
Indiana Sportsbooks take $125m Covid hit Indiana's retail and online sportsbooks were hit hard in the first weeks of the
coronavirus shutdown, costing the state an estimated $125m in wagers in March
March's bets produced $5.5m in adjusted gross revenue, down 50.5 per cent from $11.9m in February, and yielded $522,0825 in tax revenue for the state
INDIANA SPORTS BETTING
US – Two million surgical masks donated by Las Vegas Sands arrived in Albany, New York in April where 500 boxes, containing one million masks were unloaded for distribution to health care providers and first responders attacking the COVID- 19 crisis on the front lines. After leaving New York, the 767 aircraft owned by Las Vegas Sands Chairman Sheldon G. Adelson and sent to Guangzhou, China to transport the protective gear, arrived in Las Vegas with an additional one million masks for front-line crisis response in Nevada.
Masks earmarked for New York were sent to a state collection center that will distribute to front-line workers, and Nevada masks are also being distributed through a state-run entity responsible for the distribution of incoming donations, along with supplies provided directly by the state and federal government.
"This pandemic has called on each of us to use every ability we have to help those most impacted by the crisis," Mr. Adelson said. "Getting personal protection equipment to our health-care professionals and first responders in Nevada and New York, the epicenter of this crisis, is critical to keeping those brave folks safe, while making sure they can do their jobs to aid our most vulnerable citizens. I am grateful we can leverage our resources to get these donations to the front lines, and we send them with the best wishes of our company and team members."
In total, Sands has donated more than two million pieces of personal protection equipment to Nevada, New York, California and Massachusetts. The company also donated 1,900 coronavirus test kits and is in the process of donating 20,000 protective suits to the state of Nevada.
In April, Sands made financial contributions to hunger-relief organisations and donated 60 pallets of food and more than 55,000 bottles of water to local organizations. The company is currently paying each of its nearly 10,000 Las Vegas Team Members, along with providing full health-care benefits, while its properties remain closed.
PENNSYLVANIA – Coronavirus shutdowns loomed over Pennsylvania’s gaming industry in March, costing sportsbooks $220m in wagers in March, according to PlayPennsylvania estimates, and sending home-bound bettors to online casinos and poker rooms in record numbers. “Pennsylvania’s gaming industry is navigating waters that are unprecedented anywhere,” said Dustin Gouker, lead analyst for
PlayPennsylvania.com. “It’s an industry that employs thousands in Pennsylvania and generates millions of dollars in tax revenue, and it is not designed to be closed.”
P24 NEWSWIRE / INTERACTIVE / MARKET DATA
Indiana's retail and online sportsbooks were hit hard in the first weeks of the coronavirus shutdown, costing the state an estimated $125m in wagers in March, according to PlayIndiana. And with no immediate end in sight, the industry will continue to navigate treacherous waters in the months ahead.
"Tis is an unprecedented stoppage for legal sportsbooks, and there is no playbook for them to follow to help manage the crisis," said Dustin Gouker, lead analyst for
PlayIndiana.com. "Obviously, the sports betting industry is just one facet in a crisis that is affecting us all, too often tragically. But it is a business that employs hundreds in Indiana and generates millions in state taxes. And the bottom line is that there will be no significant relief until the sports world begins to open back up."
Indiana appeared to be headed for its first month of more than $200m in bets. Instead, the state's retail and online sportsbooks collected just $74.8 million in March wagers, down 60 per cent from the record $187.2m in February, according to official reporting released Tursday. Almost all of the handle was generated before March 11, when the sports world began to shut down.
March's bets produced $5.5m in adjusted gross revenue, down 50.5 per cent from $11.9m in
Atlantic City hit worse than during the Great Recession
New Jersey
Atlantic City's casinos, which shuttered on March 16, are losing $540m a month with more than 26,000 workers are out of jobs. Industry analysts have warned that some casinos will go bankrupt.
Clyde Barrow, a professor at University of Texas Rio Grande Valley and casino industry analyst, said: “We haven’t seen it play out yet, but if you look at the economic numbers that are going to start coming out in the coming weeks, this portends to be a worse economic downturn than we even saw in the great recession. It will be the biggest
February, and yielded $522,0825 in tax revenue for the state.
Te loss of the NCAA Tournament proved particularly damaging. Indiana sportsbooks could have generated more than $50m in tournament-related wagers, PlayIndiana estimates.
"Tere is no way to replace the revenue that would have been generated from the NCAA Tournament, which in legal jurisdictions generates more action than the Super Bowl," said Jessica Welman, an analyst for
PlayIndiana.com. "Te NCAA Tournament can't be rescheduled, but professional leagues are beginning to draw plans to begin games again. We still don't know what that looks like or when it will happen. Whether spectators are there to watch in-person or not, though, online sportsbooks should again be able to attract bettors, which will be welcome news for the industry."
Te silence of sportsbooks could change in a minor way. Sportsbooks are now accepting bets on the WNBA and NFL drafts.
"We don't expect a lot of betting on the WNBA and NFL drafts, but we suspect that each will draw more interest than either would under ordinary circumstances," Welman said.
blow to the casino industry that we’ve seen in a lifetime. Tat means some casinos won’t survive. Some may go into bankruptcy, as happened back in 2006 and 2010. Tere will be some losers, and there will be some winners
Casey Clark, Vice President of strategic communications for the gaming association, said the industry was 'incredibly resilient' and believes it will bounce back just like after the recession. “Right now, we’re focused on working with the federal government so that all corners of the industry — from gaming hubs like Vegas and Atlantic City to regional and tribal properties, suppliers and the small businesses that depend on us — have the ability to weather this unprecedented public health crisis,” he said.
New York
Amid the ongoing COVID-19 pandemic, Governor Andrew M. Cuomo announced on April 16 that all NYS on Pause restrictions and closures will be extended until 15 May, including casinos. Tis action is taken in consultation with other regional states. Te states will re-evaluate after this additional closure period.
“Unpausing New York and reopening our economy is going to be an ongoing process over the coming weeks that we’re working through with other states, but we have to do it in a way that doesn’t drive up the infection rate and create a second wave of the virus,” Governor Cuomo said.
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