Why a Casino Would Close?
Very few casinos actually close their doors, but when they two there are only two real reasons why it would happen:
- It goes out of business
- It merges with another casino
In the first case, it is quite straightforward: The casino is either not making enough money to keep afloat, or; they are hit with major fines they cannot deal with. As more and more of the industry gain licenses and strict regulative bodies, we have seen more and more major fines given out. This trend will likely continue, and as such more new casinos may go down in the future.
In the latter case, of one casino merging with another, it may not even be a case of a failing casino. Large casino brands frequently buy up casinos with solid user bases, and in some cases, it is to get the users. In other cases, it will be a poorly performing casino within a larger casino group, which is simply swallowed up by a better/newer casino.
The good thing with mergers is that you as a player will still have your account, full-time employees to contact and a lot more safety. Licensed casino operators that shut down will however usually give their players a period to withdraw their funds.
Is It Common For a New Casino to Close?
It is incredibly rare that a brand new casino closes. The majority are set up by experts, who know how long they need to make a loss to actually get up and running. They will have secured the investments needed, and be fully set for at least 1-2 years.
A quick glance on the list above should also showcase just how few casinos end up actually closing their doors.
The majority of new casinos do not close, even if they do not do overly well, as they are part of larger networks, and are thus easy to manage and keep up to date. It has also become easier and easier to even keep up an independent casino with a skeleton crew. These things combined means that even the less popular casinos have a chance to be around for a very, very long time.
How Many Casinos Close Every Year?
You will get wildly different answers to this question based on which market you are in and what type of casino you are looking for. In terms of the casinos we have reviewed, we typically only see about 5-10 casinos close every year. This is a remarkably small fraction of the casinos we cover, especially when keeping in mind that the majority are not from the current year.
What to Do If Your Casino Closes?
When a casino closes, the following 6 tips will come in handy:
- Stay up to date: Monitor the casino’s official website or any official communication channels for announcements or updates regarding the closure.
- Withdraw any pending funds: If you have funds in your account, initiate a withdrawal immediately. If there are issues, contact their customer support for assistance.
- Secure your personal information: Ensure that your personal and financial data is safe. It might be a good idea to change passwords for related accounts as a precaution.
- Read the terms and conditions again: Revisit the casino’s terms and conditions or any agreements you have accepted to understand the implications related to the closure.
- Seek alternative casinos to play at: Research and find reputable alternative casinos to play at if you wish to continue online gaming. You can try out any other of our recommended casinos.
- Be cautious of potential follow-up scams: Be wary of emails or messages claiming to be from the closed casino or offers to recover your money for a fee.