MGM Resorts Layoffs, San Jose Outdoor Gambling, and French Poker Boom

MGM Resorts, one of the largest casino operators in the world, has announced it will lay off 18,000 workers due to the ongoing Covid-19 pandemic. The company had already furloughed roughly 63,000 employees after the mid-March closure affected every single one of its nationwide casinos. Although many have since re-opened, including 8 out of 9 Vegas strip casinos, staff were informed in an internal memo this week that cuts were inevitable.

In other news, the City Council of San Jose has approved outdoor gambling, allowing Bay 101, one of only two legal cardrooms in the city, to set up a marquee tent in their parking lot. This decision comes after a long six months of closure due to the pandemic. Casino M8trix, the city’s other casino, is also looking to join Bay 101 with an outdoor offering. VP Robert Lindo stated that anything Casino M8trix can do to get their employees back to work safely, to generate some much-needed tax revenue for the city of San Jose, and to provide outdoor entertainment and food and beverage to their amazing patrons, would be spectacular.

Meanwhile, French online poker revenue has surged by 126% to €142m in the second quarter. The ANJ, Autorité Nationale des Jeux, France’s new regulatory authority, revealed that locally licensed online poker revenue increased by 126% to €142m. That was broken down as cash games being worth €39million – up 82% - and tournaments accounting for €103million - up a massive 149%. Overall online gambling revenue in France fell in the 2nd quarter, with sportsbetting taking the biggest hit, although horseracing was another area in which revenue figures rose sharply.