8 casino about to permanently close

[OgNasty]

The owners are battling with Bankrupcy and they have to close to curtail expenses, although I found this clause that might keep the site on or delay it's closure
...

Bankruptsy? That's not something new for a casino, well, for online casinos, it's rare. For physical ones, its yes. I heard lots of casinos filed bankruptsy because of the operation expenses, this happened if they just lacks marketing effort, or simply failing to attract enough customers. Well, some land based caisnos also struggle when they fail to adapt to changes in the industry, including the shift toward online gambling/casino.

I would agree that bankruptcy is much more common from operating costs for physical casinos. Online casinos usually go broke from making a bad bet in what currency to store their profits, getting hacked, or having really bad luck. I don’t think web hosting and signature campaigns are bankrupting them.

[Smack That Ace]

That is a big amount of casinos to close all in one go, but the one thing that they seem to miss from their list is the competition from online casinos.

Online competition is certainly very high these days. However I wouldn't want to conclude that this was primary reason for closure of these eight specific casino. It is quite evident that bankruptcy and change in ownership were factor involved. And now owner plans to repurchase and reopen them. So, if you were to ask me whether land-based casino are losing market share to online gambling? That may be the case, but it hasn't yet reached such critical level that would necessitate shutting down physical casino.

[Itz-prisigold]

Bankruptsy? That's not something new for a casino, well, for online casinos, it's rare. For physical ones, its yes. I heard lots of casinos filed bankruptsy because of the operation expenses, this happened if they just lacks marketing effort, or simply failing to attract enough customers. Well, some land based caisnos also struggle when they fail to adapt to changes in the industry, including the shift toward online gambling/casino.

Another factor I feel should be taken into account is where the physical casino is located. The success of a land based casino depends on how the players will be willing to travel to the location, and how much they will spend there;  an online casino could reach out to players in various locations.

So regardless how well the casino is managed, its business could still be in trouble if the habits of its customers change, or if there are not many customers visiting the casino.  For this reason, I feel it's still crucial to understand the way people are now gambling as marketing is also important.

[terrific]

I would agree that bankruptcy is much more common from operating costs for physical casinos. Online casinos usually go broke from making a bad bet in what currency to store their profits, getting hacked, or having really bad luck. I don’t think web hosting and signature campaigns are bankrupting them.

The budget they spend for marketing usually are big but when they profit from it, the ROI is assured.
Although for these closing physical casinos, much better to know to have some idea of which is the actual reason of the closure.
But we get the idea of why this has become common when they file bankruptcy. I guess that one wrong big decision has done it.
And in result, it had siphoned all of their operational funds and is no longer steady and not even breaking even with the operation.

[Nathrixxx]

We should be well updated about what is happening within the gambling sectors and the casinos that we are using. Imagine some users may not be informed of these casinos shutting down their operations, but having this forum and other reliable information sources could be an added advantage for you to quickly get notified and take action before you are among those who will be affected.

[Cityhunter34]

That is why it is good for people to be splitting there income into something that will give them profit or good return even though the one they considered as main source of income is not longer giving them... for a period of time. But I believe they have been surviving before they even started working for those Casinos and I also believe that there are people who don't depend solely on these casinos works which means they have other small side hustle and these are the folks it won't affect much.

Normally, we don't have to rely heavily on one income because nobody can easily predict what will happen in the future. Sometimes we often get carried away with one particular job without remembering that the company can just wake one morning and decide to shut down; by then, you might end back at square one because you don't have another source of income. But the truth still remains that there is nothing they can do other than look for another job, because it's not a new thing anymore.

[Ronsbit]

These are land-based casinos, online casinos surely the reason they loss clients.

And 850 jobs at risk, this is a big loss for the industry.
Seems this is just the beginning, more and more land-based casinos will eventually file bankruptcy in the future.

Online gambling industry is killing them.

Online casinos are gradually taking over the gambling industry. People no longer want to get seen while gambling these days, they just need their privacy and in their comfort zone doing their thing's which the land based casino can not be able to solve. The competition is very strong now and online casino is taking it all.
The risk to land based casino shutting down is very high because people would lose their jobs and this will further cause problems because people would go back to the streets for survival and we all know how all these end's u.

[Agathamay]

The owners are battling with Bankrupcy and they have to close to curtail expenses, although I found this clause that might keep the site on or delay it's closure

"Maverick Washington LLC is currently subject to a bankruptcy proceeding and, as part of that proceeding, there could be a potential change of operator and/or owner for the site," she stated. "If the site is transitioned to a new owner/operator, the above-referenced closure may not occur, or alternatively, the closure could be delayed.

Source

It's painful people would be out of job, but the company cannot help it at this point, they would have to seek employment elsewhere.

In cases of bankruptcy like this one, it is always at the best interest of the go the casino to close down rather than letting greed creep in with the  hope of recovering from the losses of players because they might just end up getting worst results.

And if there's a new buyer for the casino, then it will be best for them to sell it off to the new buyers which will leave them with some money to start up something else rather than just folding up.

[Zaka1221]

That is why it is good for people to be splitting there income into something that will give them profit or good return even though the one they considered as main source of income is not longer giving them... for a period of time. But I believe they have been surviving before they even started working for those Casinos and I also believe that there are people who don't depend solely on these casinos works which means they have other small side hustle and these are the folks it won't affect much.

Normally, we don't have to rely heavily on one income because nobody can easily predict what will happen in the future. Sometimes we often get carried away with one particular job without remembering that the company can just wake one morning and decide to shut down; by then, you might end back at square one because you don't have another source of income. But the truth still remains that there is nothing they can do other than look for another job, because it's not a new thing anymore.

I have to be agreed because now situation is changing drastically and peoples are facing serious troubles unannounced recession period is already around us due to conflicts and trade war which is not going to end in near future peoples needs to have enough for their own interest 8 casinos are surely have enough employes now due to sudden closed they are facing uncertainty.

Having new jobs has never been easy with the closing of these governments, which are also surely facing problems. Revenue and taxes are also having an impact on the gambling industry, which is already have enough changes due to online casinos popularity which is increasing and peoples are feeling comfortable with them as well.

Many casinos are not having required revenue targets; it's also increasing problems for them. A few are already heading for bankruptcy due to lack of customers, which is also a serious problem in the last few years.

[Nothingtodo]

We should be well updated about what is happening within the gambling sectors and the casinos that we are using. Imagine some users may not be informed of these casinos shutting down their operations, but having this forum and other reliable information sources could be an added advantage for you to quickly get notified and take action before you are among those who will be affected.

These casinos were once very popular but have now lost popularity and have been forced to shut down, meaning that their losses are now higher than their profits and losses, which is why these eight casinos are being forced to shut down. Moreover, these casinos are currently unable to compete with online casinos and their customer base is constantly decreasing. It is natural that if the customer base of a business organization decreases, that business will suffer losses. And it does not seem that any authority will keep any gambling establishment running with losses. However, the purpose of presenting all these updated news here is to make people aware of these shut down casinos so that they cannot deposit here in the future.

[robelneo]

This is going to take away the fun gamers get from those casinos and also jobs of workers of these casinos.

Two questions? Are they closing because they lose in the competition, or because there is no more market for the casinos? If the answer is the latter, then I feel sorry for the workers, but if it's the former, then these casino workers and gamers can just go to the remaining casinos or the coming casinos.
The industry is dictated by its market; as long as the market is there, there is continuity of the industry.

 

[fullfitlarry]

Two questions? Are they closing because they lose in the competition, or because there is no more market for the casinos? If the answer is the latter, then I feel sorry for the workers, but if it's the former, then these casino workers and gamers can just go to the remaining casinos or the coming casinos.
The industry is dictated by its market; as long as the market is there, there is continuity of the industry.

Let me quote you:

Maverick Gaming plans to shut down 8 Washington casinos as it works through Chapter 11 bankruptcy. The company points to higher labor and operating costs, along with increased competition from tribal casinos. About 850 workers will be affected.

So yes, one reason is competition as we all know that there are a lot of casinos all over US including tribal controlled casinos.

It's just that land based casinos has evolved so much as well. And if I'm not mistaken, this could be just mid-tier casinos and so it's very hard to really go along with biggest casinos just around the corner and gamblers preferred those top tier casinos for experience and great services.

[$crypto$]

The eight casino's that would be affected where listed in the report so you could check to see if your favorite casino(s) as the case may be was or were affected by this.
Several reasons for the permanent close up of these casino were cited.

It's a traditional casino, not an online casino, so no one is affected here except the people in the Washington area who play there, --- the average user here plays at crypto casinos which mostly have announcements on bitcointalk forums, so I would be unconcerned by the closure.

Yes, workers have to lose their workplaces, this is a decision taken by their side after not covering their operational costs.

[Julien_Olynpic]

It's a natural progression. The industry grew and prospered during favorable times. But the industry has apparently entered its final, exponential phase, where competition has become very fierce. The market simply doesn't need so many land-based casinos. Land-based casinos certainly have certain advantages over online ones, but these advantages are vanishingly small. Although for those living nearby, it was probably convenient. I think many online casinos will also close. The gambling craze will cool somewhat, and many will move on to other gambling areas.

[qwertyup23]

<..snip..>

It's painful people would be out of job, but the company cannot help it at this point, they would have to seek employment elsewhere.

This is one of those unfortunate things that not only does affect the businessowner but also its employees. At the end of the day, bankruptcy ultimately affects more parties than the owner- its employees also suffer the same fate as they are paralyzed into their tenure to such job.

It's a natural progression. The industry grew and prospered during favorable times. But the industry has apparently entered its final, exponential phase, where competition has become very fierce. The market simply doesn't need so many land-based casinos. Land-based casinos certainly have certain advantages over online ones, but these advantages are vanishingly small. Although for those living nearby, it was probably convenient. I think many online casinos will also close. The gambling craze will cool somewhat, and many will move on to other gambling areas.

Like what I have mentioned in the past, the pandemic really proved the formula into what kind of gambling platforms are profitable. Given that online gambling has been proven to be more convenient, relatively profitable, and cheaper to maintain, I find it not that surprising to see land-based casinos to slowly lose their relevance (unlike famous ones) in the coming years.

[swogerino]

When I read the title I thought some of the well known casinos here were going to close business and say goodbye. Luckily I see there are other casinos and in that list I found no one of them is even remotely my favorite, by favorite I define the cryptocurrency ones who offer the most bonuses and benefits and as per my definition these are well alive and kicking here in the forum.

[TheUltraElite]

These are physical casinos and not the ones that are well known throughout the forum. Indeed it would have been a shock to the community here if the online casinos would have been stopping. But there was none, so one can fathom the lack of popularity that physical casinos have and that they are mostly attended by the crowds coming down from nearby towns.

Eventually I feel the physical casinos are going to go out of business as the online casinos catch up. But I still feel there is hope for the Vegas Strip because that group is organized.

[Sanitough]

These are land-based casinos, online casinos surely the reason they loss clients.

And 850 jobs at risk, this is a big loss for the industry.
Seems this is just the beginning, more and more land-based casinos will eventually file bankruptcy in the future.

Online gambling industry is killing them.

Online gambling is killing them because they refused to up their game or maybe their management were ignorant to moving with the trend. People would always choose convenience over being physically present to gamble. A combination of both would've given people more options and not see them loose so much clients.

I am not sorry for the company, but the 850 people loosing their sources of livelihood , sounds very sad to be out of job just 2 months to the end of the year, some guys might have a very boring Christmas.

Their games are different from online since they are land-based casinos, so whatever they offer, it will not make people leave online casinos and go to their casino. thats the difference. And actually, now, the only ones that survive are those that are already popular and that is not because they offer good games but because being in the casino on their place is like having a vacation as they have hotels, bars, and many recreational activities that people will go there willing to spend money and only think of winning as a 2nd goal.

[davis196]

From this report https://x.com/SEATTLESUBMISS/status/2106130425328660835 8 casino in the Washington area are about to close up next month ending, not really a good story for casino lovers in the Washington area.

The eight casino's that would be affected where listed in the report so you could check to see if your favorite casino(s) as the case may be was or were affected by this.
Several reasons for the permanent close up of these casino were cited.

This is going to take away the fun gamers get from those casinos and also jobs of workers of these casinos.

I guess the saying "no casino can go bankrupt" is finally proven wrong. The online gambling industry is about to destroy offline gambling.
It would be interesting, if we can get more info about the "raising labor and operational costs".
I wouldn't cry about the fact that 850 people are losing their jobs. Those people will most likely find another job in no time. Working at a casino isn't very prestigious and honorable to begin with. The casino lovers in the Washington area will switch to online gambling. From what I know, offline casinos are visited by elderly people. Those elderly people should not be gambling. They must give some money to their grandchildren.

[TopTort777]

If there would be 8 offline casinos less in the world, gambling industry is not going to lose much. Anyway all the business is trying to move online. Seems that the generation of gamblers who prefer offline gambling is going to end soon. I mean real gamblers, not those who are more tourists than players, people who treat offline casino as place to hang out with friends. Progress and laziness are going to close most of offline casinos