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Coronavirus means casinos across the U.S. are losing big

The worry of a recession asides, S&P expects casinos to continue to be hurt by social-distancing restrictions and customer travel hesitancy even after the coronavirus is deemed under control.

The Las Vegas Strip, which would normally be a frenzy of activity in March, is dead thanks to coronavirus restrictions.
The Las Vegas Strip, which would normally be a frenzy of activity in March, is dead thanks to coronavirus restrictions.Read moreDavid Becker for The Washington Post

At some point, the economic suffocation caused by the coronavirus pandemic will relent. But for casinos, simply opening the doors won’t release the pressure, according to a report Tuesday from Standard & Poor’s.

The worry of a recession aside, S&P expects casinos to continue to be hurt by social-distancing restrictions and customer travel hesitancy even after the coronavirus is deemed under control.

S&P’s report did have a glimmer of hope for casinos in the Philadelphia region.

“We believe regional gaming markets are more likely to recover faster than destination markets like Las Vegas," the forecast said, "because most customers are able to drive to those properties instead of fly, which reduces the cost of these trips and potential lingering travel fears associated with the virus.”