It’s been several months since Colorado’s commercial casinos were given permission to begin operating again. Unfortunately, the amount of revenue earned from these gambling venues has been considerably less than it was last year. New reports show that the casinos in Colorado are finally starting to bounce back.
It’s fantastic news for the state. The casinos here help to boost tourism, provide jobs, and bring Colorado large amounts of revenue every month. Today, we’re going to look at what is contributing to the rise in gambling earnings here.
Let’s get into it!
The US Casino Industry Continues to Struggle Heading into Fall
When casinos around the US were ordered to shut down back in March, many felt things would only remain that way for a couple of weeks. It was an unprecedented move for cities like Las Vegas that rely almost entirely on these casinos. As the weeks went on, it became clear that the casino industry would be severely affected.
Certain areas of the country were hit harder than others. Las Vegas and Atlantic City immediately began looking at ways to safely get casinos open again. Other states made it clear that it would take time to get any crowded casinos, including casinos, open to the public again.
Each state has taken its own approach to reopening casinos. Nevada Governor Steve Sisolak gave casinos the green light to open back up in June. New Jersey waited until July to get Atlantic City up and running again.
New York was the last state to lift its restrictions on commercial casinos. News broke at the end of August that casinos in the state would finally open up in mid-September. Several of these casinos are now operational again.
Some fear that things may be forced to shut down again once the colder weather approaches. Health experts warn that cases are likely to increase dramatically over the next few months. Casino companies will likely do everything they can to prevent another major shutdown.
Over in Colorado, the gambling industry appears to be slowly improving.
NFL Betting and Table Games Are Already Helping the Casinos in Colorado
Many are surprised when they hear that Colorado has one of the largest casino industries in the Western United States. Lawmakers in this state ordered all casinos to shut their doors in March. It wasn’t until June that commercial casinos here were allowed to begin operating again.
The casinos in Colorado took longer to bounce back than others in nearby states. It was tough for the many residents employed inside these properties. Officials inside the three cities where casinos are located have been looking at ways to boost gaming revenue.
Not long ago, a measure was approved to finally allow table games inside the state’s casinos. These have been prohibited over the past few months over fears they attract crowds. Casino owners here claim they are already seeing a major increase in visitors with these games now available.
“Our dealers are really excited to be back at work,” Monarch Casino COO David Farahi said. “We want to make sure that we have a density that still allows for social distancing in the building.”
Sports betting was made legal in Colorado earlier this year. This industry is already helping to boost revenue. With the 2020 NFL season now underway, gambling revenue in the state is increasing rapidly once again.
Things are far from normal for the various casinos in Colorado now operating. Things may never return to the way they were in 2019. Fortunately, it appears that these casinos are seeing an uptick in revenue. Hope is that this continues for the rest of the year.
US Sports Betting Revenue is Expected to Surge This Fall
The popularity of sports gambling has been rapidly increasing around the United States since May. Interestingly, many states have seen record revenue earnings in 2020. It’s a surprising statistic when considering many US sports leagues were completely shut down for several months this year.
On September 10th, the 2020 NFL Season officially kicked off. It’s expected to be one of the most-watched seasons in recent history. Many analysts also expect it to be one of the most wagered on seasons ever.
Sports betting revenue is already increasing with the season now underway. As we just mentioned, casinos in Colorado saw their revenue earnings increase dramatically. Sportsbooks around the country are expected to see an increase, as well.
Some fantastic online sportsbooks are available throughout the entire country right now. One that many football fans are flocking to is Bovada. This site is known for being safe and offering its members a huge range of different NFL odds.
It’s great to see that sports betting earnings are up right now. Casinos certainly need it. Stay tuned for more reports on gambling revenue over the next few weeks!
Do you plan to visit any casinos in Colorado this year? Let us know in the comments section below!