For a number of industries and businesses, the coronavirus outbreak was an unprecedented challenge that they never really hard enough time to prepare for. As a matter of fact, despite several expert opinions on the matter, not many people foresaw the disease becoming a problem of this magnitude.
Still, the virus is already here and has since been declared a global pandemic by the World Health Organization. Governments and organizations all around the world are working hard to contain the spread of the virus and one of the measures that are being highly championed is social distancing. People are being advised against large gatherings, something that has dealt a blow to the global gambling industry.
Many of the gambling, entertainment, and hospitality operators have already made peace with the potential implications of the closure of their businesses. However, some are of the opinion that there is something that can be done to buffer them from the hit they are going to take during this challenging period.
Betting and Gaming Council Calls for Rescue Package
In the United Kingdom, the Betting and Gaming (BGC) has been pushing the country’s lawmakers or policymakers to provide offer a rescue package to the gambling industry. This is mainly geared towards assisting the country’s sports betting operators who have been dealing with a ton of canceled and postponed events across the world.
“Betting shops face a decrease of up to 60% trade on sports betting alone as confirmation came through that the Grand National will be canceled along with all other major sporting events. Coupled with dramatic falls in customers due to advice to avoid public places, fears have grown significantly for staff and business.”The Betting and Gaming Council (BGC).
The package that the council is asking for is going to go to the employees who will certainly be out of jobs during the slow down. In addition to that, the BCG is also calling for lawmakers to consider implementing a temporary relief on business duties as well as corporate taxes and regulatory fees.
Fortunately, on Tuesday, the United Kingdom’s government offered a financial package to support businesses in the entertainment and hospitality industry. While the council has welcomed this move, they have still pointed out that it is not enough especially with regards to the issue of employment costs.
US Casinos Ask Congress for Emergency Aid
The United Kingdom is not the only place where casino operators are reeling from the impacts of the outbreak. Dozens of gambling venues have since closed down and this has greatly impacted their revenues. Now, the casino operators are lining up to ask Congress for emergency aid.
Needless to say, this kind of aid will go a long way from buffering the sector and those who rely on it from the impacts of the efforts put in place to deal with the pandemic. The United States gambling industry employs approximately 1.8 million people and they will certainly need all the help they can get.