Beginning at 8 p.m. EDT, casinos in New York, New Jersey, and Connecticut are being ordered closed "until further notice" to combat the coronavirus, the states' three governors jointly announced.

There are around 40 gambling halls in the tri-state area, but the edict for closing will only apply to those on non-tribal lands.

Empire City Casino in New York

Image source: Empire City.

Betting on a quick recovery

While the move by the states will obviously have an impact on casino revenue, some resorts were already closing their doors, including:

  • Empire City in Yonkers, New York, which MGM Resorts (NYSE:MGM) acquired last year, which closed on Saturday
  • Genting's (OTC:GMALF) Resorts World in the Catskills and at Aqueduct Race Track in Queens, which said they would close for two weeks
  • Rivers Casino in Schenectady, New York

Because the state closure order is for an indefinite period of time, however, it will supersede Resorts World's 14-day voluntary closure. 

New Jersey's casinos in Atlantic City have an advantage their New York counterparts do not in that the state authorized online gambling several years ago. Gov. Phil Murphy has said he will allow such gambling to proceed.

While sports gambling is also legal in New Jersey, virtually every major league sports association has at least temporarily canceled their seasons. College basketball's March Madness tournaments have also been suspended, making having a sportsbook superfluous. Wynn Resorts (NASDAQ:WYNN) closed its sportsbook in Nevada due to the coronavirus.