Colorado’s gaming industry is at a standstill after the coronavirus outbreak shuttered the state’s casinos this week after already having scrubbed most of the major sports that had been expected to bolster the launch of legalized betting in the state this spring.
On Monday, Gov. Jared Polis announced a mandatory 30-day closure of casinos, alongside bars, restaurants, gyms and other large gathering places.
While operators understand the need to mitigate the spread of COVID-19, the highly contagious respiratory infection caused by the new coronavirus, the industry is leery of the implications on the three mountain towns — Black Hawk, Central City and Cripple Creek — that rely on gaming to fuel their economies.
“It’s going to have a tremendous impact because gaming is really the city’s lifeblood,” said Paul Harris, Cripple Creek’s finance director and interim city administrator.
Gaming revenues fund the town’s basic necessities, from police to wastewater treatment. The industry here already has fallen on hard times, Harris said, citing a 30% decrease in the number of games available to play — and therefore revenue — since the Great Recession.
Helen H. Richardson, Denver Post file
Merritt Mullaney, Senior Manager of Gaming Operations for Saratoga Casino, watches over a craps table at Saratoga Casino in Black Hawk on March 5, 2020. On Monday, March 16, 2020, Gov. Jared Polis announced a mandatory 30-day closure of casinos in Colorado.One casino, the Christmas Casino and Inn at Bronco Billy’s, already was slated to close at the end of March and Harris worries the impact of the coronavirus could cost dozens of employees their jobs if more casinos fold.
“It’s like having a community driven by one economic engine and now that engine is shut off,” Harris said. “We have restaurants and tourism, but all those things feed off the gaming industry before summer hits and you get regular tourism. But even that is up in the air now.”
Buddy Schmalz, co-owner of Dostal Alley Casino in Central City, is enacting a contingency plan much like other restaurants. Because his family-owned and operated casino has its own kitchen and brewery, he plans to sell beer and pizza to go for locals and regulars.
“Our goal is to keep as many people as we can employed and want to make sure we provide some comfort to people that are staying at home,” Schmalz said.
It’s not just small operators that are poised to take a hit. Century Casinos, which runs three casinos in Central City and Cripple Creek, said in its closing announcement to investors that the Colorado locations would have generated 9% to 11% of the company’s 2020 net operating revenue and adjusted profit if business were not interrupted. The company also closed casinos in Poland due to a government mandate in response to coronavirus.
Helen H. Richardson, Denver Post file
BLACK HAWK, COLORADO – MARCH 5: A man plays the slots at Saratoga Casino on March 5, 2020 in Black Hawk, Colorado. Casinos such as Saratoga and Ameristar are preparing to build retail sportsbooks where gamblers can go to experience betting IRL in real time. Colorado legalized sports betting in November 2019, creating a market for sports wagering both at casinos and via mobile apps. (Photo by Helen H. Richardson/The Denver Post)As of March 17, Penn National Gaming, parent company of Ameristar in Black Hawk, had temporarily closed 28 locations nationwide.
“As for our nearly 800 team members at Ameristar Black Hawk Casino Hotel who will be impacted by this temporary closure, we plan to continue to pay their wages and benefits through the end of March,” said Jay Snowden, president and CEO of Penn National Gaming, in a statement. “This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible.”
The Colorado Division of Gaming is still aiming to set legalized sports betting off to the races on May 1, communications director Suzanne Karrer said. On Thursday, the state’s Limited Gaming Control Commission will host its monthly meeting virtually and continue to approve sports betting licenses for casinos, as well as retail and digital sportsbook operators.
But the landscape for sports betting this spring is bound to look vastly different than anticipated, after events such as the Kentucky Derby, originally slated for May 2, were postponed and pro baseball, basketball and hockey seasons either suspended or delayed.
Helen H. Richardson, Denver Post file
A woman plays the slots at Ameristar Casino Resort and Spa in Black Hawk on March 5, 2020.Black Hawk’s Saratoga Casino will continue to build out its forthcoming retail sportsbook, said Marcus Rohrbaugh, director of gaming and interim general manager. Most casinos viewed May as something of a soft opening and planned to enhance their amenities through the summer in advance of football season, one of the biggest times for betting all year.
In the absence of many major leagues sports, however, digital sportsbooks have to get creative. The app PointsBet, which recently opened an office in Denver, is working with governments in states where it already operates to add esports and other obscure games, such as chess, table tennis, and even a billiards game called snooker, to its offerings, said communications director Patrick Eichner.
The app is also planning a campaign to introduce and educate its users on one lesser known sport each day. DraftKings recently ran a free-to-play contest that allowed for wagers on the March Democratic Debate, and Bovada is letting bettors wager on the weather. In Australia, betting on “The Bachelor” is big business, Eichner said.
“It’s obvious to say March Madness is a huge time of the year for every sports betting operator. It’s not an ideal situation,” he said of the coronavirus’ impacts. “But looking at how it could change things for the better, it’s going to shine a light on the sportsbooks that can be creative… and keep people geared into their sportsbook of choice.”
"impact" - Google News
March 18, 2020 at 07:00PM
https://ift.tt/2QoFaeT
Coronavirus halts Colorado’s gaming industry, impact could be “tremendous” on mountain towns - The Denver Post
"impact" - Google News
https://ift.tt/2RIFll8
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Coronavirus halts Colorado’s gaming industry, impact could be “tremendous” on mountain towns - The Denver Post"
Post a Comment