US economy faces $43.5bn hit from casino closures

The American Gaming Association (AGA) has said that the widespread shutdown of casinos across the US could cost the country’s economy as much as $43.5bn (£37.0bn/€40.5bn) over the next two months.

According to the AGA, 95% of all commercial casinos in the US have closed in the past week, while 76% of tribal casinos have shut their doors in line with state government orders to help slow the spread of novel coronavirus (Covid-19).

The AGA said the mass closure risks almost $74bn in total annual wages, with 98% of the whole gaming workforce – some 616,000 casino and resort employees – impacted by the shutdown.

The impact would go further than just those directly employed by the industry, the AGA warned. It said that commercial and tribal gaming accounts for around $41bn in revenue used to support local hospitals, first responders and other public services.

Read the full story on iGB North America.