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Education Trust Fund Struggles Without Casino Money

It is quite a difficult time across Industries as businesses struggle to get the patronage of their customers back. We already have a slew of news about the job cuts in the hospitality and the aviation industry, even as the service sector braces for a more severe impact of COVID-19 in the time to come.

The casino industry has got its share of problems, too, as only a small number of gamers have come returned to play their favorite slots, and that too only in places where restrictions have been relaxed a bit by concerned authorities. Across the globe, casinos are struggling with customer apathy, and part of this problem can be attributed to the strict Vigilance and long-term measures adopted by governments. Authorities are concerned with their citizens’ health and well-being and doing everything possible to curb the spread of the infection. Notwithstanding this, casinos are rolling out some attractive schemes to lure gamers. Sample the offer where you can get the best casino bonus of 2020 on HEXCasino,and it becomes quite evident that casinos want their gamers back at any cost to support their businesses.

Still, the situation is grave. For instance, Donaco International, Ltd., a group listed on the Australian exchange, reported a low revenue. The group is in the business of casinos, and according to its latest filing, it has registered a loss of AUD 2.7 million in this quarter on account of complete or partial closing of its casinos in countries such as Vietnam and Colombia. The group has reported a decline in all important business parameters, including the net revenue, average daily visit of gamers, etc. That said, the company is hoping to bounce back to its strong financial position as it’s taking various measures to revive its market prospects.

Orntat Amatavivadhana, the non-executive chairman of the group, opined that the organization is well aware of the ongoing business conditions and responding to these external constraints in a very pragmatic manner. He expressed the hope that, over time, the group will recover from the ongoing uncertainty and again get things back on track.

Impact on Education

A more severe impact of the slowdown in the casino business can be felt in Maryland, where teachers are worried about the education funding prospects. The casino industry is one of the significant contributors to the fund that has been earmarked for education purposes. But now, with low footfalls in casinos, there is a fear that the contribution of the casino industry will reduce.

According to the statistics, there has been no contribution from the casino industry in the education funding for April and May, as this was when casinos were closed. Even when casinos started functioning in June, the amount that went into education funding was also small. One estimate suggested that the total deficit in the funding for the financial year, which ended in June, was around $22,762,114. It is indeed a challenge not only for the education industry and the policymakers on how to go ahead while supporting the functioning of the schools and education system without the external help of the casino industry.

The State education Association of Maryland stated that this lack of funding could result in the deterioration of schools’ education facilities. This could very well manifest in the form of the class’s increased size, less support to the professionals, and a smaller number of faculty and staff members to help the students with the learning process.

It is quite a difficult time for the casino industry, and its later impact on the education industry is even more intimidating as it relates to the future of the next generation. We can only hope at this point that the spread of COVID-19 will come under control in the future, and gamers again come back to casinos in numbers we had them in the pre-COVID era.

David Bright

David Bright joined Times of Casino as a news writer focused on the casino industry. He holds a bachelor degree in Economics and Accounting and currently contributing in-depth news articles. David writes on the casinos, gambling legislation, poker, and much more.

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