March 24, 2020 Casino, Land-Based

Coronavirus: New Jersey casinos could lose $1.1bn

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According to a report from the American Gaming Association (AGA), New Jersey could stand to lose $1.1 billion in lost economic activity, as a result of a two-month shutdown of the state’s casino industry due to the COVID-19 pandemic.

The projections take into consideration all direct and indirect economic activities associated with the casino industry, which include gaming revenue, food and beverage and accommodations, as well as those industries and workers further down the value chain such as suppliers, vendors and their employees.

"The impact on our employees, their families and communities is staggering, and the implications extend far beyond the casino floor,” said Bill Miller, President and CEO of the AGA, in a statement.

As a result of the outbreak, mass closures and employee displacement across the country will deprive the US economy of $43.5 billion if casinos remain closed for the next eight weeks, Miller added.

"Leading technology companies that supply the industry, and the nearly 350,000 small business employees that rely on gaming for their livelihood, are also feeling the devastating blow of this unprecedented public health crisis," he said.

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