The state of Texas is well-known for having some tough laws towards the gambling industry. No casinos are allowed here, despite the recent push by many lawmakers. This week, we heard more about how the casino restrictions in Texas could eventually change.
A growing number of individuals here are pushing to see legal casinos in the state. It’s a long, complicated process to get these venues up and running, though. Now is a great time to discuss what needs to happen for casinos to open in Texas.
Let’s get into it!
Casino Revenue is Jumping Around the Country
The land-based casino industry is beginning to recover from the events that unfolded last year. It’s been a long-time coming. For more than 12 months, gaming revenue around the United States was lower than it had been for years.
As vaccine distribution ramps up, travel is beginning to increase around the US. Many are choosing to head to major gaming hubs such as Las Vegas and Atlantic City. Tourism rates here have been gradually increasing as the months go on.
Las Vegas is benefiting in a big way. The casinos here are now seeing a steady increase in their visitation rates. Many analysts now believe that this summer will end up being a hugely successful month for the casinos in this city. On June 1st, the gaming properties here will be given permission to operate at 100% capacity.
Atlantic City’s gaming industry is bouncing back in a big way, too. Officials have been reporting consistent jumps in revenue lately. Some of the casinos here are now preparing to see a major influx of tourism as June approaches.
Most of the country’s smaller casino markets are also seeing a revenue increase. It’s great news for the industry and proves that gaming companies have found a way to recover. Now, many of these companies are interested in expansion.
Texas is currently prohibiting any traditional Class III casinos from opening their doors. It appears that could change in the near future.
Las Vegas Sands Pushes to Change Casino Restrictions in Texas
The gaming laws in Texas are notoriously strict. Casinos here have been completely prohibited for many years. As a result, many Texans head to nearby states such as Oklahoma to play their favorite games. Many in Texas are tired of seeing this money flowing to neighboring states.
Several prominent lawmakers have been pushing to get legalized casinos in the state. Others believe it could increase crime and gambling addiction. It’s become a major talking point and Governor Greg Abbott claims it should be up to state residents to decide on whether or not to allow gambling venues.
Las Vegas Sands has been one of the biggest casino companies pushing to get casinos legalized in Texas. This week, the company began undergoing a major marketing campaign to help gain support for casino legalization. These ads focus on the fact that so much revenue is flowing into nearby states.
“This November, the Legislature can allow Texans to vote to build four world-class destination resorts and casinos, bringing those dollars back to Texas,” one of the advertisements claims. “Let’s boost our economy, create tens of thousands of jobs and help fund vital services like schools and public safety.”
Lawmakers in Texas met today to further discuss the gambling industry. Many are hopeful that a majority of leaders here finally begin to see the upside in having a regulated casino industry. It seems likely that Texas could develop one of the largest casino markets in the country.
Las Vegas Sands is certainly doing everything it can to change casino restrictions in Texas. This company is also focusing its efforts on operations overseas.
Is Macau Still an Attractive Destination For LVS?
Macau has been going through a lot of changes lately. Earlier this year, Las Vegas Sands founder Sheldon Adelson passed away due to cancer. It was a tough blow for one of the country’s biggest gambling operators.
Not long afterward, the company announced it was selling two of its biggest properties in Las Vegas. LVS claimed it would begin focusing more of its operations on Asia. This company owns and operates several major casino-resorts in this part of the world.
Some are now questioning if this was a wise decision. The economy of Las Vegas is beginning to bounce back in a big way. Casinos here are finally beginning to see a steady increase in their monthly revenue figures.
Macau, however, continues to struggle in a big way. There are still some intense travel restrictions set in place between here and Mainland China. Fewer Chinese nationals are making the trip to Macau with these rules set in place.
There’s no doubt that Macau remains one of the world’s biggest gambling destinations. It may take longer for this city to recover than Las Vegas, though. We’ll need to wait and see how LVS chooses to focus its operations as the year goes on.
Do you think 2021 is the year that casino restrictions in Texas will change? Let us know in the comments section below!