Despite the steady recovery of its stock price over the course of Q2 2020, MGM Resorts reported a steep loss of $857.3 million (£654.8 million) for the second quarter of 2020. This news is hardly surprising given the strict lockdowns imposed on Las Vegas and elsewhere as the global pandemic took hold in April and May. Despite being reopened, casinos in Sin City are operating at 50% capacity to allow for social distancing measures.
MGM Resorts stock price traded 3.31% lower on Friday, closing at $16.09.
Online Gaming Boomed During Q2
It’s difficult not to feel sympathy for land-based casino operators, many of whom have seen their businesses closed and restricted without any say in the matter. However, online live gaming operators have benefited greatly from the situation. We’ve reported several times this quarter that live gaming companies such as Evolution Gaming and Playtech have reported record revenues, benefited from temporary contracts due to forced closures, and more.
It’s clear that, in the United States and elsewhere, casino players are turning to live dealer games rather than taking the risk of visiting a land casino where they’ll be forced to wear masks, and where the usual social, lively atmosphere is still lacking.
We Predict the Live Games Boom Will Continue
There’s no clear sign of the Coronavirus dying down in America, and in some states, it’s surging. Likewise, British Prime Minister Boris Johnson warned that cases were bubbling up in several places in Europe and the United Kingdom. German health authorities confirmed that they were “very concerned” about the rising number of cases in Germany.
Whether or not the feared second wave comes, we predict that many players will err on the side of caution, especially after discovering the ease and convenience of playing live dealer games online. Why would one risk their health to play with dealers separated by a perspex screen, with everyone wearing masks and gloves, when it’s so easy to play with real dealers online with none of these restrictions?
When you combine fears of a second wave with dire economic data and record joblessness, it seems likely that land casinos will continue to suffer throughout 2020, and live casinos online will continue to boom. As companies like Evolution Gaming move into the US through partnerships with Golden Nugget and others, their revenue is likely to increase again in Q3 and Q4 2020.
How to Play Live Dealer Games Online
Playing live dealer games is as easy as selecting one of our approved live casinos, registering an account, and making a deposit. We recommend 32Red for players from the UK, and Red Dog for US players. Good luck!