Instead of the Great Reset, we can think of the Coronavirus pandemic as the Great Accelerator. The impact it has had in far-reaching industries has been accelerated. Trends of shopping for groceries online, watching Netflix instead of going to the cinema, and working remotely instead of in an office.

One industry that didn't escape this phenomenon was casinos. Whilst we have websites like the VIPArabClub Online Casino absolutely took off during the pandemic, it has come at the cost of traditional casinos.

It comes as no real surprise that social distancing restrictions around the world have prevented casinos from operating as normal, particularly when considering that most casinos in Vegas, for example, operate as extensions of a hotel. 

That is the second reason behind Vegas' struggle: tourism is still yet to return to normal, so many hotels are half empty. These are large buildings with high taxes, debt repayments, or outright rent. On top of this, staff members were furloughed and forced to wear masks, or even have vaccinations, whilst customers were gambling in a half-empty casino whilst wearing a mask - hardly a glamorous night out or networking opportunity like they’re often used for.

Of course, online casinos had no such issues when it came to limited occupancy, payroll, rent, and social distancing. In fact, they were the direct beneficiaries. Online casinos were already on the rise because of their convenience, but the pandemic once again served as a Great Accelerator. 

Online casinos have had a number of advantages over physical casinos for a while now. Gamblers often enjoy convenience and mobility, meaning they can play when and how they like. Of course, places in the Middle East often ban land-based casinos, but online casino activity still occurs - legal or otherwise.

It’s not just convenience, though, but the quality and quantity of the game selection. Online casinos have hundreds if not thousands of games on any one platform. Because of this boom in online casino game development, there has been a lot of innovation. Slot games are no longer about pull and wait - they’re riddled with stories, characters, and themes. 

Choice is often at the heart of an efficient market, and online casino goers certainly have plenty of that. Physical casinos were already hurt, even prior to the pandemic, but it’s difficult to see a way back. Would customers who are fully immersed in online games return to the physical table? In order for that to happen, restrictions need to be fully lifted and social nights out need to be as common and popular as before the pandemic.

Where traditional Casinos go from here

Vegas is just one industry, though. Once tourism returns, it's inevitable that casinos will see closer to normal levels of business. However, can the same be said for casinos based in smaller towns around the world?

Earlier in 2020, the Lebanese Government was considering selling off the Casino du Liban in order to raise funds. Whilst this was being talked about due to a deep and tragic economic crisis, the idea that the casino may never be the same again is certainly in question - and this is the most popular casino in the Middle East.

The casino industry was estimated at $265 billion around the world in 2019. In 2020, it was estimated to have contracted to $202 billion, which is around a fifth smaller in just one year. Whilst 2021 is forecasted to have returned to closer to $230 billion, it’s difficult to know if, or when, it will return to pre-pandemic levels.

Some casinos invested immediately into online infrastructure, so their income could be diversified and make the most of the flux towards online gambling. This was no doubt an effective strategy for those who could do it fast enough because as we can see, the online industry didn’t contract as the traditional one did. 

In fact, despite the pandemic and subsequent recession, disposable income for many countries never went down. It actually went up, because lockdowns meant that other hobbies were taken away from them, so a surplus amount of money led to an increase in investing and gambling (often being conflated with each other, too).

Whilst tourism-driven casinos will be dependent on tourism returning to normal - which there is no guarantee - it may be preferable to more localised casinos, which rely on local gamblers turning off their phones and heading down to the casino. We have seen many casinos close down, but it’s likely that those who made it this far will continue to survive, seeing as the Omicron is speculated to be more benign, and restrictions should ease up slightly around the world in a few months. 

Whilst this isn’t guaranteed, one thing is for certain: Online casinos will continue going from strength to strength in providing convenient and innovative games on platforms that will improve payment solutions.