Boyd Gaming is the latest land-based casino operator to report weak earnings for Q3 2020, showing that the supposed V-Shaped recovery has not extended to the casino gaming sector in the United States. Third quarter revenue declined 20.42% from $819.6 million to $652.2 million.
So far this year, Boyd Gaming has seen its revenue drop 38.12% to $1.54 billion.It is still operating with a total of three properties closed.
Boyd CEO Confident In Post-COVID Recovery Strategy
Boyd CEO Keith Smith praised his team for navigating the challenges related to the pandemic and reaffirmed his confidence in the company’s recovery. He noted that the revenue figures were due to almost all casino floors being closed or partially closed.
However, there was some good news amidst the less-than-stellar financials. Smith highlighted that strong foundations for a post-COVID recovery had been built, including online sports betting partnerships with FanDuel Group for operations in Illinois and Iowa.
Boyd Gaming isn’t the only company reporting anemic financials for Q3. There are virtually no land-based casino operators popping bottles of champagne as we roll into the final quarter of the year. In fact, if recent COVID-19 numbers in Nevada and elsewhere are anything to go by, confidence in a quick recovery may be overstated.
Where Are American Players Going?
With so many land casinos closed or operating under strict social distancing measures, American gamblers have clearly opted to play elsewhere. Some of that is by choice as Americans discover live casino gaming and all it has to offer. While players in New Jersey and some other states with legal online casinos can enjoy world-class games from Evolution, including Lightning Roulette and Speed Baccarat, players from unregulated states have options, too.
In states where Evolution live casinos aren’t available, players choose offshore live sites like Red Dog Casino to play live blackjack, roulette, and baccarat. These casinos are based in offshore locations like Curacao and Panama, giving American casino players options when their governments have not made online gambling provisions for them.
As Coronavirus numbers pick up in virtually every state, many players will continue to turn away from land casinos and the risks associated with attending them. Live online casinos are a great alternative for safety-conscious players or those simply curious to try live dealer games.
As we have reported many times this year, most large American casino operators are forming partnerships with live casino operators. They see the writing on the wall and know that this is the way of the future. We suggest visiting Red Dog Casino now to experience live casino gaming for yourself.