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.