Let’s face the music. Who has the money to spend when the economy is in the toilet? People won’t congregate in c-sino’s when Covid cases are skyrocketing. Business aren’t looking for new product that won’t show a profit during this time. Will that mean layoffs for the company? I can see it happening in the near future. I hope to hell not, but I'm realistic.
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I know people are just being stupid. I have a friend whose daughter is coming in from California with her friend for Thanksgiving. These are millennials and I'm sure they're bringing the coronavirus into Nevada.
The behaviour of Americans in being dismissive of facts/science will continue to prolong the pain and suffering (physical, mental and economic) of the pandemic way way way into 2021. Look for the next few weeks to be very bad with a tremendously cruel ripple effect. Many America’s won’t take a vaccine or adhere to common sense practices like social distancing or mask wearing. Travel data suggests Americans are going to travel in record numbers for their holiday this week despite experts saying to stay home. This behaviour and mentality is going to k–l a lot more people and put another nail into what was already an archaic business that caters to senior citizens (also the population most at risk).
Scientific Games will have to make changes and possibly do layoffs. With the c-sinos operating at 25% they are going to really be hurting for some time.
Everything is going online gaming and the traditional c-sinos are going by the wayside.
Manufacturers are going to have to make changes to adjust.
I fully agree with you, the only people gambling are addicts. The industry is not coming back until 2021 or even 2022. The manufacturers will have to layoffs has a second shutdown is coming in order to save people's lives. In my opinion brick-and-mortar c-sinos are dead everything is on the line. And that's the safest way to play
The only people gambling on slot machines now are hard core gamblers / addicts. Though this is a lot of people it is not significant enough of a population for the land based c-sino operators to survive. They need the return of the masses which is probably 6-10 months away minimum even with a vaccine and even after a vaccine there will be strict social distancing / mask wearing rules that make the live gambling experience not very attractive except for people who have to gamble because they have problems. A shut down in Nevada is definitely coming but the macro picture of dead c-sino revenue is what will drive a second mass layoff soon - the supplier side is especially bleak, those businesses won't recover for years. Companies have to layoff and furlough to survive. It's just math.
Well maybe if you were a bit more relevant you might hear things within the industry. And who ends sentences with "lol", what are you, twelve? My guess is you're some unemployed schmuck who trolls these forums. You clearly aren't in the know with what is going on in the city. It must be painful to be as lonely as you.
Ooooooohhh... you "got enough contacts"... .... then it's gota be true!!... I'm shivering in my PJs now because of how reliable and forthcoming I know this all to be.... lol
To the scared snowflake, unless I was the Governor himself everything is rumor and speculation. But I've got enough contacts that are saying similar things that it makes me a tad uneasy.
Instead of being such a clown, perhaps just go off yourself. The world clearly hasn't been cleansed of enough people
To below poster.... ooooohhhh i'm soooo scared.... you heard it from "different angles" then it's gota be true.... .... Tool
Current rumor going around is that the Governor is eyeing a December 1st shutdown for at least 2 to 3 weeks. The reasoning behind this is that it allows the holiday weekend to play out (profits > safety) and with early December being slow, it is the optimal window for minimal impact.
It makes sense. It still s—s. But I've heard it from enough different angles where I'm starting to prepare for 2.0 just in case.
I just heard through the grape vine that there will be no more layoffs this year guys (high five), we can all rest calmly now. Cheers!
I thought for sure that after the first closure of Las Vegas, the Kasinos would have bounced back by sending out slot play offers to locals and to our neighbors in California. But It seems like the offers are too far and few between. So nobody has an incentive to want to come and gamble. With the impending shut down 2.0 slated, our state is hosed. It’s a bad situation that is not going to get any better.
I heard some chatter about Sci Fi and Aristocrat merging. Anyone else know about that?
I think it will depend on this winter. Performance in third quarter was great all things considered (at least according to our earnings) but that was helped by the opening up. If we lockdown again there's no denying Gaming (our biggest revenue earner) will take a nosedive. Who knows though, pfizer just announced a vaccine this week (peer-review pending) which (if successful) could limit the blow over this next COVID wave.
I personally don't believe any layoffs will occur before the end of the year due to our stable third quarter (which was also boosted by the the diversified sale of Ron Perelman's shares to industry firms) and the fact that there are only 49 days left before 2021 (which I don't think is enough time for SGMS to significantly dip resulting in workforce reductions).
It seems like Nevada is going to shut down again, everyone should be prepared for layoffs soon after. Nobody is making money right now and it will be many years before this industry comes back.
Before this year is over layoffs will occur. C-sinos are not making money.