It has been ten months since the earthquake, and businesses across Christchurch are still have trouble returning to their form glory. It seems that a decline in tourism and more cost-effective attitudes among residents have contributed to lost profits for local businesses, and casinos are among the most negatively affected.
Christchurch Casino has seen some of the worst financial effects of the earthquake. After reopening in May, profits had dropped by 30%. Now, in December, profits are still 15% lower than they were during this time last year.
Job losses among local residents have likely contributed to the situation. Locals have less money to spend on leisure activities, so casino and gambling spending have dropped. Additionally, tourist numbers are much lower than they were in the previous year, and tourism dollars are very valuable to casinos.
The demolition of hotels around the casino has also have detrimental effects on the casino’s business. With no places stay close by, fewer people are taking the trip out to Christchurch to visit the casino.
The casino’s operators, however, are confident that things will return to normal soon. They believe that Christmas will bring in an influx of business before a full financial recovery is made.