MGM Resorts issued an earnings update amid the Covid-19 pandemic, reporting that revenue has declined for the first two months of 2020, but net income increased more than 500-fold because of the sale of the MGM Grand and Mandalay Bay venues.
Nevada casinos brought in $1.04bn in revenue while sportsbook revenue grew to $38.1m in the last full month before the novel coronavirus (Covid-19) pandemic led to a near-total shutdown of casinos and global sport.
The American Gaming Association (AGA) has hailed the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act through the US Senate, saying it would help prop up the gaming industry during the novel coronavirus (Covid-19) pandemic.
Gambling industry association the Betting and Gaming Council (BGC) has praised the UK government after it was confirmed that gambling companies will qualify for the business rates holiday designed to mitigate the shut-down enforced by novel coronavirus (Covid-19).
Catena Media has reported a 5.7% year-on-year increase in revenue for the two months to 29 February, with the affiliate marketing giant saying that it anticipates further growth amid the novel coronavirus (Covid-19) pandemic.
The Philippine Amusement and Gaming Corporation (PAGCOR) has released an additional PHP6bn (£100.8m/€109.4m/$118.0m) in funds to the country’s government to help support national efforts related to the novel coronavirus (Covid-19) pandemic.
888 Holdings has reported a rise in customer activity across its casino and poker services, but the online gambling operator warned its sports betting business is likely to suffer as a result of cancelled events worldwide.
Table games supplier Galaxy Gaming’s revenue increased 14.5% to $21.3m for 2019 and said it remains confident that it has the funds to survive the closure of many casinos due to the outbreak of Covid-19.
British industry body The Betting and Gaming Council has written to the Chancellor of the Exchequer after the gambling industry was excluded from all forms of business rate relief intended to ease the impact of the novel coronavirus (Covid-19) pandemic.
The American Gaming Association (AGA) has urged federal government to offer additional support to the gambling industry as the market continues to feel the effect of the novel coronavirus (Covid-19) pandemic.
The Betting and Gaming Council (BGC) has urged the UK Chancellor to provide emergency help to save thousands of jobs across the gambling industry, after fresh concerns were raised over the impact of the novel coronavirus disease (Covid-19) on the sector.