The Betting and Gaming Council or simply the BGC is the single industry organization for gaming and betting which today represents online casino gaming venues, online sports betting venues, betting shops as well as other businesses of this kind. Members of the Betting and Gaming Council association come from the United Kingdom gaming and betting industry which in the United Kingdom employs 70,000 individuals as well as contributes with over £14 billion to the United Kingdom economy.

As listed on the official website of the Betting and Gaming Council association, one of the major business missions of the association is to champion casino gaming and betting industry standards in order to ensure enjoyable, safe, and fair gaming and betting experience for all individuals. Today, the Betting and Gaming Council association in the United Kingdom sets the highest standards in the industry.

The association is also focused on building both institutional and public trust in the United Kingdom gambling and betting industry through its codes of practice and codes of conduct which are crafted carefully to ensure everyone is treated equally and everyone is offered safe, fare and enjoyable betting and gambling activities.

England Casinos to Reopen on the 1st of August

The United Kingdom Prime Minister has just recently announced that casino venues located in England can finally reopen and resume their operations on the 1^st of August following a long period of four months of these venues being temporarily shuttered down due to the ongoing coronavirus pandemic. Commenting on the news, officials at the Betting and Gaming council said that they are delighted for England casinos which can finally reopen since this will provide a major tourism boost to all hospitality industries.

Nonetheless, the Betting and Gaming Council also calls for the Welsh and Scottish casino venues to reopen as over two thousand employees in the industry are affected by the four-month shutdown. When it comes to casino venues located in England, they employ over 12,000 locals as well as provide millions in taxes. Needless to say, casinos in England also contribute greatly to the region’s tourism economy, so there is no wonder why the UK government wants to get these facilities up and running as soon as the situation allows.

Strict Coronavirus-Induced Measures and Guidelines

Before the United Kingdom Prime Minister announced that casinos in England will reopen on the 1^st of August, the Betting and Gaming Council association has been working very hard to get land-based casinos back in the game especially after England bingo halls and betting shops reopened. Needless to say, casinos in England which will open their doors to the public after four months will have to follow strict coronavirus-induced guidelines in order to ensure that both employees and players remain safe and protected.

Commenting on the long-awaited reopening process, the Betting and Gaming Council’s Chief Executive Officer Michael Dugher said that after four months of mandatory lockdown, it is super exciting to finally see casinos reopen on the 1^st of August. He also added that these venues will play one of the most important parts in the recovery of the UK’s hospitality and tourism industries. Since the UK casino venues employ thousands of individuals, the Betting and Gaming Council association wants to see the same reopening action in Wales and Scotland as the uncertainty is never good for work staff.

The Asian casino behemoth which owns and operates the iconic Resorts World Sentosa gambling-friendly complex, Genting Singapore Limited is about to initiate a series of layoffs due to the ongoing coronavirus pandemic. As reported by several local news outlets, the company’s officials revealed the news following a massive business downturn caused by lockdowns and other measures that were set in place back in April.

The Genting Group is a firm based in Kuala Lumpur, Malaysia which has several prominent subsidiaries including its Genting Singapore Limited which is responsible for Resorts World Sentosa. Genting Singapore Limited runs the iconic one hundred and twenty-acre gambling-friendly, fully integrated casino resort for the Genting Malaysia Berhad. The luxurious resort opened its doors in January of 2010.

It is located on the southern coast of Singapore and it is home to several remarkable attractions including the Adventure Cove Water Park, a Universal Studios theme park as well as S.E.A. Aquarium that features the second-biggest oceanarium in the world. The resort was developed by the Genting Singapore firm for around US$4.93 billion which made it one of the most expensive buildings of this kind developed in 2010.

The Iconic Resorts World Sentosa Complex

The fully integrated, gambling-friendly resort occupies over one hundred and twenty acres of land and it employs over 10,000 locals. The casino featured within the complex opened its doors on the 14^th of February 2010 alongside several other amenities including the massive FestiveWalk mall. In 2011, the resort also opened the Maritime Experiential Museum while in 2012, Resorts World Sentosa opened the Marine Life Park.

Due to the ongoing coronavirus pandemic, the resort has faced rather a series of challenges and obstacles to stay afloat and one of these includes struggling with a massive downturn in business as a direct result of the pandemic. In one of the most recent press releases, officials at Genting Singapore Limited which runs the resort declared that the company had decided to introduce a number of redundancies after a long period of consultation and deliberation.

The same official press release proclaimed that the iconic Resorts World Sentosa as well as the Marina Bay Sands facility closed their doors to the public temporarily back on the 7^th of April following the rising number of residents being infected with the highly-contagious, potentially-deadly novel coronavirus strain. Both Marina Bay Sands and Resorts World Sentosa started reviving some of their non-gaming operations on the 19^th of June while they re-opened their casino floor partially some fifteen days ago.

Implementation of Workforce Rationalization

Following massive downturns in business, the Asian casino operator responsible for Resorts World Sentosa revealed that it has made the decision to initiate a workforce rationalization to combat the negative consequences of the ongoing coronavirus pandemic on its business operations. The decision was made following comprehensive reviews of costs, as well as significantly reduced salaries of the company’s management team which went down by thirty percent.

The company’s officials also revealed that Genting Singapore Limited will work with local trade unions including the Attractions, Resorts, and Entertainment Union alongside some government agencies to keep as much of its local staff as possible. Lastly, the company’s officials revealed that they will present every single of its departing employees with several new job opportunities.

The former Portuguese enclave, Macau boasts one of the most profitable casino gambling industries in the world with billions made yearly. However, due to the ongoing coronavirus pandemic, the Macau gambling industry has come across serious obstacles and challenges. As reported by several local news outlets, the negative impacts of the ongoing coronavirus pandemic will very soon prompt the six fully licensed and regulated casino operators to reveal their combined deficits in earnings for the second quarter.

According to the company’s officials, their combined deficits in earnings before amortization, depreciation, interest, and taxes went over $1 billion which is a massive loss. As revealed by Inside Asian Gaming, the forecast was made by the Morgan Stanley brokerage and investment company concerning the financial results from the major Macau casino operators. These include Melco Resorts and Entertainment Limited, SJM Holdings Limited, MGM China Holdings Limited, Sands China Limited, Galaxy Entertainment Group Limited, Wynn Resorts Limited, and Wynn Macau Limited.

Re-Opened Macau Casinos Struggling to Attract Customers

Back on the 4^th of February, the government of Macau decided to shutter every one of those thirty-nine commercial casinos in Macau due to the rising numbers of coronavirus infections in the country. The Macau casinos just recently re-opened, but they have been struggling to attract customers mainly due to social distancing, travel restrictions, and other safety and protection measures that are still in place.

After over two months of being closed, the Macau casinos can only expect negative financial results for the previous period alongside other negative consequences of the ongoing coronavirus pandemic which will last for months to come.  The Morgan Stanley brokerage and investment company’s main analysts Praveen Choudhary and Gareth Leung recently revealed that those six major casino operators in Macau are expected to record combined second-quarter deficits in earnings before amortization, depreciation, taxes and interested of around $1.04 billion.

According to the same analysts, the casino operator with the biggest financial losses and deficits in earnings is the Sands China Limited company with a massive shortfall of $286 million. According to Praveen Choudhary and Gareth Leung from Morgan Stanley, another company with a similar deficit of around $205 is Melco Resorts and Entertainment. According to the pair, the Melco Resorts and Entertainment Limited is about to record the worst financial result for the three last three-month period when it comes to the local casino gambling industry.

Reducing Operational Expenses

Nonetheless, both Praveen Choudhary and Gareth Leung proclaimed that these rather devastating financial results from the six Macau casino operators could also provide an important glimpse into the operators’ current operational expenses alongside other important information such as which operators had managed to reduce some of their operational costs and which portions of the expected cut remains sustainable in the longer run.

The pair also clarified that the latest financial information on the aggregated deficits in earnings for the six Macau casino operators also revealed which casino operators had been able to better manage their rising operational expenses alongside the aggregated daily rate which as estimated recent dropped by around 21% on a yearly basis to hit only around $15 million. The pair’s official statement also reads that Macau casino gambling stocks increased by around 21% in the latest quarter so they believe that the worst is behind the Macau casino operators.

NagaCorp Limited is one of the most successful, renowned Asian leisure, gaming, and hotel companies. The company is present across several Asian countries including Cambodia where it owns and operates the country’s largest gaming and hotel resort, the NagaWorld facility. This Hong Kong-listed company also owns and operates the only Phnom Penh’s fully integrated hotel and casino complex.

It is worth mentioning that NagaCorp Limited holds a seventy-year casino license running until 2065 in Cambodia. Consequently, it also has a monopoly within a one-hundred-and-twenty-mile radius of Phnom Penh at least until 2045. The company’s Naga casinos opened back on the 1^st of May in 1995 in Phnom Penh. At the time, it was a riverboat casino before moving to land and its current location in 2003. Like every other company of this kind in the industry, NagaCrop Limited has been negatively affected by the ongoing coronavirus pandemic.

Released several days ago by the company’s officials, NagaCorp Limited is considering whether to offer a new share offering to combat the storms caused by the ongoing coronavirus pandemic. The company’s possible new share offering will also top up NagaCorp liquidity as well as give the company more resources so it can battle a massive slowdown in its business also caused by the coronavirus pandemic.

Consequences of the Coronavirus Pandemic

Also revealed by the company’s officials, the Hong Kong-listed firm responsible for the largest casino resort in Cambodia, the NagaWorld facility has enough cash to endure around eighteen months of highly reduced revenues. The revelation was made back on the 22^nd of June according to Inside Asian Gaming and other local news outlets.

Inside Asian Gaming also noted that the casino facility located within the iconic NagaWorld facility has been temporarily shuttered since the 1^st of April due to an initiative led by the country’s government to stop the spread of the coronavirus strain. The same source also revealed that the company’s flagship property located in Phnom Penh is only operating one hotel at significantly reduced capacity while its visitors are provided with only limited food and beverage services.

One of the major consequences of the ongoing coronavirus pandemic to local businesses and casino operators is seen in disappointing financial results for the first quarter of this year and NagaCorp is not an exception. The company’s officials revealed that its average expenditure for one month regarding its venue in Cambodia had been $18.4 million before the coronavirus-related lockdowns were set in place.

Before the lockdown, the company’s monthly expenditure for its venue in Cambodia encompassed around $13.9 in standard operational costs as well as $3.2 million in maintenance and capital costs. Nonetheless, this outflow has been significantly reduced to around $3.9 million while the company holds deposits and cash worth around $527.1 million.

NagaCorp Limited’s New Share Offering

When it comes to the company’s new share offering, the company’s officials revealed that NagaCorp Limited’s Chief Executive Officer as well as its majority shareholders Chen Lip Keong would be willing to invest around $45 million via ChenLipKeong Capital Limited to show his confidence and support.

In the meantime, the company is pushing ahead with its NagaWorld expansion worth $3.5 billion which will bring extra retail space, a spa, a massive amusement park as well as around five thousand more hotel rooms and extra restaurants to the luxurious resort. The company responsible for the venue is also considering expanding its casino floor to host two thousand and five hundred extra slot machines and around eight hundred extra gaming tables.

One of the leading casino operators in Japan, the Okura Holdings Limited has just recently released its profit warning following releasing news that the company expects a massive comparable decline of around 83% in its earnings before taxation for a period of eleven months until the end of May. According to one related post released by Inside Asian Gaming, this Hong Kong-listed company used one of its official fillings to share more details about the expected comparable decline in its earnings.

The biggest reason behind issuing its profit warning is to advise all o sots investors to remain cautious when dealing with the company’s shares during these rough times caused by the ongoing coronavirus pandemic. The company’s officials also released that Okura Holdings Limited generated around $9.2 million in earnings for the previous financial period. However, while the latest profit warning raises fears that it may struggle greatly to reach $2 million which is a massive drop when compared to $9.2 in profits for the previous financial period.

Okura Holdings Limited Responsible for Seventeen Pachinko Halls

Okura Holdings Limited is one of the major pachinko halls and casino operators in Japan. As of the 16^th of April 2018, Okura Holdings Limited is responsible for seventeen pachinko halls which are located across different locations in Japan. The company particularly focuses on the Kyushu region where many of its pachinko halls are located. Either way, customers at its pachinko halls get to play both pachislot and pachinko games which are among the most popular entertainment forms in Japan.

The company opened its very first gaming venue in Nagasaki back in 1968 which means Okura Holdings Limited is among those long-standing gambling operators in Japan. Nagasaki is also home to the company’s main office. Back in 2003, the company has expanded into the thriving Kanto region following its major success in the Kyushu region.

Almost ten years later in 2012 Okura Holdings Limited opened its gaming facility in the Kansai region and one in the Chugoku region back in 2016. All in all, Okura Holdings Limited has gone a long way from its Monaco Hall that opened in 1968 as today it is one of the major nationwide pachinko hall operators with seventeen pachinko halls.

Considerable Decline Post-Coronavirus Pandemic

Okura Holdings Limited surely raised many eyebrows after deciding to keep its seventeen pachinko halls across the nation open ever after the Japanese government decided to put the nation into a state of emergency due to the ongoing coronavirus pandemic. The vast majority of such venues temporarily shutter form the 7^th of April while Okura Holdings Limited decided to suspend its business operations at facilities in Tokyo and Yokohama several days later before shuttering all of its seventeen properties across the nation.

In its latest profit filling, the company’s officials stated that their predicted declines in the company’s yearly earnings are generally attributable to a massive decline in the company’s revenues caused by lockdowns and other measures that came with the coronavirus outbreak. The company also stated that it expects to record impairment losses on its equipment, plant, property, and other assets for a period of twelve months until the end of this month.

At the moment, the company is still working on assessing the exact amount of its expected impairment losses while it also works on its post-coronavirus plan and how to get back in the game after all coronavirus-related measures are lifted by the nation’s government.

After many weeks of the ongoing coronavirus pandemic-related lockdowns and other safety and protection measures employed, casinos in New Zealand including three venues operated and owned by SkyCity Entertainment Group Limited have been fully re-open. SkyCity Entertainment Group Limited is a local casino operator that just recently revealed that its three gambling-friendly venues in New Zealand have been re-opened without coronavirus-related protocols that enforce social distancing measures.

The Sydney and Wellington-listed casino operator used one of its latest official fillings to share more details about re-opening its three venues. First of all, SkyCity Entertainment Group Limited made the re-opening move shortly after the New Zealand government lowered the nation’s’ four-level coronavirus alert warning to the least concerning Level One. This immediately eliminated all of those previously enforced measures and restrictions caused by the ongoing coronavirus pandemic except those which relate to foreign travel.

SkyCity Entertainment Group Limited Casinos

As previously mentioned, SkyCity Entertainment Group Limited or simply SkyCity is one of the leading entertainment and gaming companies in the region based in Auckland, New Zealand. The company owns and operates five gambling-friendly venues in Australia and New Zealand that do not only include rich casino floors, but also two high-end hotels, bars as well as restaurants and more.

The firm’s shares are traded on the New Zealand and Australian Stock Exchange. Since its establishment back in 1996, SkyCity Entertainment Group Limited took over operations from the Harrah’s Entertainment complex within the Skycity Auckland complex. The company opened its very first Auckland, New Zealand-based gambling-friendly venue back in February of 1996 before expanding its business operations to other Australian and New Zealand cities.

In June of 2000, the firm purchased the Adelaide Casino property while several months later, it added the Skycity Queenstown resort to its growing portfolio of luxury properties. In July of 22004, SkyCity Entertainment Group Limited purchased the Darwin Casino and Hotel property from the MGM Mirage firm and re-named it to SkyCity Darwin.

Its gambling-friendly venues in New Zealand which have just recently re-opened include the SkyCity Auckland venue which is the nation’s biggest casino located in Central Auckland. It features slot and table gaming activities with over one hundred gaming tables and over one thousand and six hundred gaming machines. The SkyCity Auckland property features two hotels, a seven hundred-seat theater, convention center, as well as more than twenty restaurants and bars.

The company’s SkyCity Hamilton property opened in September of 2002. Its casino floor is packed with twenty-three tables and over three hundred gaming machines. Other amenities include a bar and restaurant which commonly host live music performances. The SkyCity Queenstown property opened twenty years ago in 2000. It features twelve gaming tables and eighty-six gaming machines.

Normal Casino Activities Return

SkyCity Entertainment Group Limited was forced to temporarily shut down operations at its three gambling-friendly venues back on the 23^rd of March. Some twenty-six days ago, the casino operator was allowed to partially re-open the three casinos after the New Zealand government updated its health management framework. According to this framework, casinos had to have their gaming floor divided into different zones.

At the time, the operator’s three casinos started welcoming their first guests who had to practice social distancing measures while the operator had to increase the distance between gaming tables and slot machines. Today, all of these measures have been removed which means that trio of SkyCity Entertainment Group Limited casinos return to their normal business operations and normal working hours.

The former Portuguese enclave Macau is home to many of the world’s most iconic land-based casino venues such as the Venetian Macau venue, The Plaza Macao, Casino Babylon Macau, and more. Due to the ongoing coronavirus pandemic which has directly caused many financial and social disruptions across the globe, the Macau casino industry has seen rather disappointing gross gaming revenues not only in May but also in March and April.

Travel restrictions that were implemented by the Chinese government to combat the spread of the highly-contagious coronavirus were largely to blame for disappointing gross gaming revenues of Macau casinos. As revealed by several local news outlets, Macau casinos recorded a massive 93.2% decrease in its net gross gaming revenues that hit only $220.9 million for the month of May.

According to reports released by Inside Asian Gaming and GGRAsia, official figures from the former Portuguese enclave’s gaming entity the Gaming Inspection and Coordination Bureau show that aggregated gross gaming revenues for May represent the second consecutive month in that Macau casinos had chalked up a comparable diminution of over 90%. Back in April, Macau casinos had chalked up a decline of 96.8% in gross gaming revenues which hit only $94 million.

Growing Daily Deficits

According to the same local sources, the most recent figure on the industry’s gross gaming revenues of Macau casinos showed that those thirty-nine casinos in the area have logged gross gaming revenues worth around $4.1 billion since the beginning of 2020. These rather disappointing figures represent a massive drop of 73.7% when compared to the industry’s aggregated gross gaming revenues of the same five-month period last year when the thirty-nine Macau casinos made around $15.7 billion.

What makes things even worse for the Macau casino gambling industry and its thirty-nine casinos active in the region is the industry’s growing daily deficits. According to Sanford C Bernstein Limited which is a prominent brokerage company, the industry’s comparable daily net gross gaming revenues for the month of May fell into another negative territory especially from the 18^th of May due to diminishing player bases and hold volatilities. The same brokerage institution also proclaimed that the most likely one-month-long median of around $7.1 million was around 126% lower when compared to those month-long medians of March and April.

Other Troubles for Casino Owners

The casino industry in Macau is also facing many other troubles that could not be avoided. As previously mentioned, the former Portuguese enclave is home to some of the most iconic casinos in the world such as the Casino Grand Lisboa venue. The city is also home to over 632,000 citizens. It has recorded its very first official infection with coronavirus back on the 22^nd of January.

With growing numbers of daily coronavirus infections, the government was forced to temporarily shutter all of those thirty-nine Macau casinos and the decision was made on the 4^th of February.  Even though all of the thirty-nine casinos in Macau partially re-opened on the 20^th of February after only forty-five coronavirus infections recorded, there are many travel restrictions still in place.

For instance, individuals who are traveling between Macau and Hong Kong or mainland China have to undergo fourteen days of quarantine. This means that the former Portuguese enclave was cut off from many of its regular gamblers who come from Hong Kong and mainland China back in March when the government decided to postpone its IVS or Individual Visit Scheme. This scheme allows tourists from forty-nine communities to come to Macau without being required to travel within a tour group.

Looking ahead, land-based casinos in Macau could easily recover from the negative consequences of the ongoing coronavirus pandemic once all travel restrictions are lifted. It was also reported that the very first department of Macau casinos to recover will most likely be its VIP Business.

The Betting and Gaming Council active in the United Kingdom has just recently called on Rishi Sunak who is the Chancellor of the Exchequer to remain to be rather flexible while supporting the United Kingdom’s regulated and licensed online betting and gambling industry during these rough times. Needless to say, the United Kingdom gambling and betting industry is one of many negatively affected by the ongoing coronavirus pandemic.

These days, the UK iGaming industry starts to emerge from a massive raft of lockdown measures that were put into place to combat the spread of the highly-contagious coronavirus strain. In one of its latest official press releases, the London-based organization represents around ninety percent of bingo, casino, sports betting and other gaming operators across the United Kingdom.

Its officials used a press release to proclaim that all of the organization’s members’ land-based gaming operations have been temporarily shuttered since the 20^th of March. These measures led by the UK government were crafted to prevent the spread of the ongoing coronavirus pandemic which as of the 1^st of June killed 38,400 local residents.

Details About the Betting and Gaming Council

The Betting and Gaming Council active in the United Kingdom is the leading casino gambling industry association for online casino operators, sports betting operators, land-based casinos as well as betting shops, and other entities. In other words, the BGC is the single industry organization or association that represents online gaming venues, as well as land-based casinos and others.

Today, it represents over ninety percent of the entire United Kingdom gaming and betting industry which is an industry that contributes over £14 billion to the United Kingdom economy as well as employs 100,000 individuals. As mentioned on the organization’s official website, one of the main goals of the Betting and Gaming Council is to champion both land-based and iGaming industry standards in order to ensure safe, fair and enjoyable gaming and betting experiences for all customers.

The Betting and Gaming Council also sets some of the highest gaming standards in the world which when combined build institutional and public trust in the gambling industry through the organization’s codes of practice and code of conduct which were carefully crafted to always ensure safe, reliable and fair gaming and betting.

Extra Assistance for the United Kingdom Gaming Industry

Rishi Sunak who is the Chancellor of the Exchequer replaced Sajid Javid on this position after a cabinet reshuffle which took place on the 13^th of February of this year. His response to the coronavirus outbreak in the United Kingdom included the initiation of his Coronavirus Job Retention Scheme that saw the UK government pay around eighty percent of workers’ wages worth up to £2,500 per month.

The Betting and Gaming Council was rather pleased with this move which has helped over 64,000 workers in the United Kingdom related to the nation’s gaming and betting industry. In another related press release, the Betting and Gaming Council proclaimed that the Coronavirus Job Retention Scheme will remain active until August if companies pay their workers’ pension contributions and National Insurance. According to the Betting and Gaming Council, this curtailing will probably cause the government’s worker wage commitment to drop to seventy percent in September before falling to sixty percent in October.

The Betting and Gaming Council’s Chief Executive Officer Michael Dugher said in one of the latest organization’s press releases that many of the nation’s land-based casino venues will operate at a highly reduced operational capacity as they re-open following the coronavirus-induced lockdown. He also added that the Betting and Gaming Council is ready to help these facilities stay afloat and the organization is hopeful that the government will help as well.

As reported recently by several local news outlets, one of the most renowned Macau-based casino operators, the MGM China Holdings Limited company has announced some of its future plans following the recent mandatory shutdown of its casino venues due to the ongoing coronavirus pandemic. As reported, MGM China Holdings Limited has been granted a brand-new credit facility which the company will use to help its business operations survive the negative financial impact of the coronavirus pandemic-related shutdown.

According to reports released by GGRAsia and Inside Asian Gaming, MGM China Holdings Limited used one of his latest official press releases to share more details about its new credit facility. As revealed, the credit provision which the company has agreed with its lenders is worth over $301 million. Nonetheless, this value may go over $503 million under specific conditions if necessary, to help the company stay afloat and to help its business survive.

Details About MGM China Holdings Limited

The MGM China Holdings Limited firm is one of the most prominent hospitality companies in Asia. In fact, the company is one of the leading operators, owners, and developers of lodging and gaming resorts in China. Moreover, MGM China Holdings Limited is also the holding firm of MGM Grand Paradise which is one of the six operators that has been granted the necessary rights to own and operate casino gambling venues in the Asian capital city of gambling, Macau.

When it comes to the MGM Grand Paradise firm, it owns and manages one of the most iconic casino facilities in Macau, MGM Macau. The venue is the award-winning fully integrated casino gaming resort situated on the Macau Peninsula. The company also owns and operates MGM Cotai that is a fully integrated, luxury resort located in Cotai which opened its doors back in 2018.

The company’s MGM Macau offers around six hundred hotel rooms alongside many other luxury amenities including five-star hotel suits, the MGM Art Space as well as, conference and meeting areas, fine dining restaurants, and one of the biggest casino floors in Macau. MGM Cotai is no less impressive packed with one thousand and four hundred luxury hotel suites and rooms, a high-end spa, meeting space, food and beverage outlets, and much more for the ultimate gaming and entertainment experience.

Disappointing First-Quarter Revenues

Due to the ongoing coronavirus pandemic and related negative and even devastating financial impacts, the MGM China Holdings Limited company saw aggregated gross net revenues for its MGM Cotai and MGM Macau venues drop by around 63% on a yearly basis to reach around $270.91 million in the first four months of 2020. At the same time, the company’s associated earnings before amortization, depreciation, taxes, and interest hit a massive deficit of around $12.9 million.

One of the major reasons behind such disappointing first-quarter net revenues related to travel restrictions which were put in place by the government of Macau following mandatory casino lockdowns issued back in March. Travel restrictions alongside mandatory lockdowns have caused MGM Cotai and MGM Macau’s occupancy rate to drop to around 36%. Consequently, the company in charge burned around $1.5 million every single day.

Majority owned by the MGM Resorts International company which is an American casino operator, the MGM China Holdings Limited company also shared that it will probably access its new credit facility provision as soon as it provides the necessary evidence that all of its $1.25 billion senior credit facility has been exhausted. According to the company’s officials, its latest cash provision is also subject to fluctuating annual interest rates as grounded on the HIBOR or the Hong Kong Interbank Offered Rate alongside a 2.75% margin according to the company’s leverage ratio.

Due to the ongoing coronavirus pandemic, the vast majority of political, sports, religious, cultural, and other events had been postponed or canceled in order to combat the spread of the highly-contagious coronavirus strain. Needless to say, the ongoing coronavirus pandemic has also put a massive halt to land-based casino activities as well as to many prominent live poker events. It is yet unclear whether cardrooms, casinos, and poker rooms will start operating at their full capacity.

During these difficult times of uncertainty, many poker tournament organizers including the biggest, most renowned World Series of Poker had to get more creative to offer exciting poker tournaments in different formats. Many organizers including the biggest World Series of Poker have decided to move some if not all of their live poker tournaments to the online realm.

Just several days ago, the World Series of Poker announced that its GCC or the Global Casino Championship will be held on the Internet. The same announcement by the World Series of Poker officials also revealed that early June will also see the launching of a new Series Finale Online Event.

World Series of Poker Going Strong Since 1970

As one of the most reputable poker tournament organizers globally, the World Series of Poker was founded in the state of Nevada, Las Vegas back in 1970 by Benny Binion. Since its inception, the World Series of Poker has been a series of exciting poker tournaments held every year in the gambling capital of Las Vegas. Since 2004, the events of the World Series of Poker are sponsored by the Caesars Entertainment Corporation.

When it comes to its origins, the very first event related to what we know today as the World Series of Poker was held back in 1970 when Mr. Binion invited seven poker players to Horseshoe Casino for one poker tournament. Over the years, the World Series of Poker included more and more events while as of 2020, the WSOP features one hundred and one poker events with the vast majority of poker variants covered including all sorts of Texas Hold’em.

The World Series of Poker events generally take place during one or several days mostly in June and July. However, the Main Events had been delayed to October in 2012 and 2016 due to the US presidential election and to November back in 2008. As of May 2017, the WSOP follows its original format which means that the Main Events are held in July.

The Global Casino Championship

When it comes to this year’s Global Casino Championship, it was originally scheduled to take place in August. As revealed before the latest update, the Global Casino Championship by the World Series of Poker was scheduled for three consecutive days in August with all events played at the iconic Harrah’s Cherokee Casino venue.

However, due to the ongoing coronavirus pandemic and related safety measures and precautions, the event’s organizer has decided to move the entire Global Casino Championship 2020 to the Internet to protect the event’s organizers, players and everyone else involved.

As revealed by the World Series of Poker officials, the Global Casino Championship will start on the 13^th of September and players who have qualified to take part in the events will have to travel to Nevada and New Jersey to take part in the Global Casino Championship as these are the only US states that currently offer World Series of Poker gaming.

It was also revealed that players who have qualified also include winners of the World Series of Poker Circuit Main Events and winners of the Casino Championship. Moreover, winners who are in the top fifty-point earners of the leaderboard also qualify so the organizers will soon send invitations to these poker players for the upcoming Global Casino Championship.

When it comes to the World Series of Poker Season Finale Online Circuit, it will run from the 3^rd of June until the 14^th of June. The Season Finale Online Circuit will offer a total of thirteen sports for the Global Casino Championship. Players will compete in a series of events while the biggest is the Season Finale Online Finale Circuit High Roller 6-Max event with a massive $150,000 prize pool. The Main Event is more impressive with a guaranteed prize pool of $300,000.