In the years preceding the COVID-19 pandemic, land-based casinoswere already feeling the brunt of a steady decline in customers. This wasgenerally due to the swiftly growingpopularity ofonline casinos and games.
When the pandemic struck, though,public restrictions and a massive shift to the online platformcaused attendance levels to plummet to all-time lows. For the past two years, their attendance and profit-margins have struggled to recover.To many itappears that, perhaps, an end to the great era of land-based casinos hasfinally come.
A Flicker Of Hope
Although online casinos are generally considered to be in direct competition to land-based casinos, and the very cause of their decline, some very level-headed and persistent casino establishment owners may have found a possible solution.
As the old saying goes, “If you can’t beat them. Join them.”In other words, land-based casino may simply need to embrace the online platform.
In the state of New Jersey, for example, the home of Atlantic City, the second biggest gambling mecca in the US next to Vegas, many land-based casinos have begun striking partnerships with online casinos, and to mutually beneficial results. Overall monthly profits have since increased upwards of $200 million.Also, as COVID-19 restrictions gradually ease,people are also slowly returning to their old lives and routineswhere they can.
There is no denying that online casinos and gambling is the future, though, and things will likely never be the same for land-based casinos. However, if they were to regain even a small portion of their old attendance, and also successfully gain access to the huge profits generatedby online gambling, thereis a chance that they couldeven be more successful than before.
On the other hand, it might not restore them to their former glory, but it may at least save them from the worst of outcomes, namely foreclosure and bankruptcy.
Launching An Online Land-based Casino
Firstly, a separate and additional online gambling licensewill need to be acquired.Then a platform must be chosen, such as mobile, browser, or perhaps cross-platform to reap the full benefit.
Next, the casino owner will either need to strike up a partnership, or else purchase the needed software and services from an accredited online casino operator and software developer.Or if they have the money and the means, develop their own unique services, software, and slots, blackjack and roulette for real money games.
Online casinos that are based on cryptocurrency are also currently hot real estate,and potentially worth investing in. Otherwise, if the funds are running low, partnering with an established online operator has its benefits. In particular, they will already have their own online gambling license, saving you the cost of purchasing one.
The Way Forward
At the end of the dayas we head into the future, the world is swiftly becoming a very different place. Land-based casinos, and all types of business will likely need to adapt and learn to swim with the rising tides and trends. Otherwise, they may very wellbe gradually swallowed, or fade away, and disappear for good.