Personal financial outlook, community, economy, job security confidence, purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises. The social outlook against this background remains grim with households expected to witness erosion in wealth. Unemployment rates have hit never-before highs with the US topping the charts with 12.5% unemployed as a % of the total labor force. Sudden fall in revenues and profits as a result of demand disruptions has resulted in workforce pruning and layoffs. The abrupt halting of economic activity has pushed businesses across all industries into financial distress.
The global market for casinos is expected to decline by 10.8% in the year 2020. With 74.6% of revenues coming from the offline brick and motor sector, the closure of entertainment centers and casinos as part of the lockdowns imposed in 1st Q 2020 impacted revenues and profitability for companies. While the pandemic and lockdowns have largely benefitted the gaming industry, the gambling sector has been less lucky faced with a tepid outlook and a mixed bag of opportunities and challenges. Casinos Market Declines by -10.8% in 2020 Mixed Outlook for Gambling Amid COVID-19 Outbreak. Dublin, J(GLOBE NEWSWIRE) - The 'Casinos - Global Market Trajectory & Analytics' report has been added to 's offering.
