Penn National Gaming (PNG) has taken measures to mitigate the effect of the novel coronavirus disease (Covid-19) on its business, selling and leasing back its Tropicana Las Vegas property and furloughing around 26,000 staff members.
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.
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.
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.
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.
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.
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.
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 New Jersey Division of Gaming Enforcement (NJDGE) has reported a year-on-year increase in revenue across all market sectors in February, despite the sports betting sector reporting a significant month-on-month decline.