Though the COVID-19 pandemic took the entire world by surprise, its well known that one the hardest hit industries of all has been the land-based casinos. Not only does generate billions every, but it also needs them keep on running. Though many businesses and industries around the world have since been able to bounce back, land-based casinos, however, have been left devastated. Though perhaps not as doomed as it may have seemed.
A Double Whammy
Shortly before COVID-19 began, between the period of 2017-2019, land-based casinos were just beginning to feel the true pressure of competition from the rapidly growing online casino industry. Though the number of visiting customers was beginning to drop substantially, land-based casinos, however, where still well at the top of list of biggest global earners, and well above online casinos. Right up until the end of 2019, when disaster eventually struck, they were reportedly still grossing well over $120 billion worldwide.
Then, as casino, and public locationsaround the world were restricted or shut down, casino revenues plummeted by a jaw-dropping $50 billion. For many land-based casino establishments this was life-threatening, and for others it spelled certain doom.
If You Can’t Beat Em, Join Em
However, not every land-based casino throughout the pandemic was left defenceless. Those who had already been investing in some sort of online casino presence, were forced to develop and rely on it fully to help pull them free of financial oblivion.
Overallrevenue figures for 2021 showed a slight improvement, though nowhere near pre-COVID levels. However, 2022 has been different. Remarkably, figures for the year are predicted to be not only back to acceptable levels, but are actually higher,and will continue to rise over the coming years.
Hybrid casino such as these, though still experiencing lowattendance at their land-based establishments, are now doing better than ever thanks to their online casino sector. Furthermore, many are receiving an added boost from sports betting, another highly popular and rapidly booming sector of online gambling.
The Future Of Land-based Casinos
Those who were slow to jump on the bandwagon have since either taken the hint, or else hung up their boots. The world has clearly entered an exciting new online era and failing to embrace it could only spell doom for any industry so reliant on its constant revenue.
More than likely, we will soon be seeing a surge of online and land-based casinos coming together to form epic and lucrative partnerships. Otherwise, according to the figures, the new hybrid land-based online casinos won’t be going anywhere anytime soon. Especially when you look at the amazing online casino welcome bonus offers now available.
The land-based casinos may never again enjoy the attendance levels of their pre-COVID glory days, however, even if they do, this may yet prove to be an insignificant turn of events. For it could very well bethat the world is on the verge of the most impressive casino boom yet.