While huge casino companies like MGM can weather the pandemic and survive, smaller casinos like Lakeside Inn and Casino Lake Tahoe are already closing forever. Without the capital needed to survive the closure, selling out is often the only option for small casinos.
First Tahoe Casino Closed
Lake Tahoe is shared by California and Nevada, and the Nevada casinos on South Shore Tahoe are not fairing well after Nevada Governor Steve Sisolak ordered them to close. Lakeside Inn and Casino Lake Tahoe, located in Stateline, Nevada, is the first Tahoe casino to close as a direct result of the coronavirus casino closures.
In a public post on facebook, Lakeside announced the closure with regrets. “Clearly we don’t want to close, but this coronavirus pandemic is no joke. We’re doing our part by taking this step to stop the current spread and keep our guests, staff, and community safe,” Lakeside wrote.
The casino closed forever on Tuesday but the casino cage will remain open until Thursday to allow guests to cash out any remaining chips.
Lakeside is closing all recreational facilities from the hotel down to the casino. And such long term closure has resulted in financial ruin for the small resort. Larger casinos in Nevada reside in Reno and Las Vegas, and such chain resorts in the bigger gambling towns are nearly invulnerable to closures of several months.
Lakeside Inn has 35 years of history in Lake Tahoe, and the effects will be felt on all 218 employees and the local community as well. Lakeside Inn President Stacy Noyes said that all currently unemployed Lakeside workers will receive two weeks of pay.
“This decision was based on concern for the health of our community and of our staff members,” said Lakeside Inn President Stacy Noyes. “We decided to take the lead and help our family. It’s the responsible thing to do.”
More Casino Closures
Casino giant Eldorado Resorts seems to have dodged a bullet when they sold their Montbleu Lake Tahoe casino resort in March. But the sale had nothing to do with the current pandemic, as the company had already decided to divest themselves of several smaller properties to prepare for their merger with Caesars Entertainment.
Several smaller casinos across Nevada have gone under during the pandemic, but there is light at the end of the tunnel. Gamblers can always use online casinos while stuck at home.
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