Over the past few years, Massachusetts has worked hard to develop a large and successful casino industry. Much of the progress being made here has been undone due to the events that unfolded last year. Fortunately, it is now looking like MA’s casino industry is finally starting to recover.
It’s great news for the gaming companies operating in this state. It’s also exciting for those employed in this industry here. Now is a great time to talk about how much the casinos in MA are bouncing back right now.
Let’s get into it!
Lawmakers in Massachusetts Continue to Discuss Sports Betting
The US sports betting industry has been expanding rapidly since 2018. That year, the US Supreme Court decided to strike down PASPA. This was a huge decision and ended up giving every single state around the country the ability to legalize and regulate sports gambling.
Some states immediately chose to start regulating this form of gambling. Places like New Jersey, Delaware, and Pennsylvania got their sportsbooks up and running quickly. All of these states are earning a huge amount of revenue from their regulated sports gambling platforms.
New Jersey is now the sports betting capital of the country. Here, both online and land-based sports wagering is allowed in the state. The money earned from this industry is helping the casinos in Atlantic City deal with the major drop in revenue over the past year.
Interestingly, Massachusetts hasn’t decided to get its sports betting industry up and running. It’s a major disappointment for the state with arguably the most passionate sports fan base in the country. It is now beginning to look like laws toward this industry could finally start to change soon.
Lawmakers in the state are meeting to discuss sports betting regulations on a regular basis now. These state officials are beginning to realize how much revenue they are missing out on. It seems likely that a bill to legalize sports betting will appear on the ballots before the end of 2021.
There are now some world-class casinos operating in this state. We’re starting to hear about how these venues are faring into 2021.
Here’s a Promising Update on MA’s Casino Industry!
For decades, lawmakers in Massachusetts pushed against the legalization of casino gambling. No commercial casinos were permitted to operate here, despite the huge demand. Finally, in 2011, a law was passed to allow three commercial gaming venues in the state.
Some of the biggest casino companies in the country now own and operate casinos here. That includes MGM Resorts and Wynn Resorts. The Encore Boston Harbor quickly began taking over the state’s casino market after its opening in 2019.
Back in March of 2020, MA’s casino industry completely shut down. Health officials warned that these venues could help to fuel the country’s health crisis. The casinos were eventually allowed to reopen during the summer, yet revenue has remained low since that time.
There have been some major improvements thus far in 2021, though. Reports have confirmed that this past March was the best month for the state’s casino industry since the pandemic began. The state’s three casinos brought in a combined $83.9 in gross gaming revenue that month. The state earned approximately $23 million in taxes.
It’s a great sign and many analysts predict even more impressive numbers as the year goes on. Casinos were recently given permission to offer craps and add a fourth seat to table games. This, combined with the vaccine distribution around the state, will likely result in a massive surge of visits to casinos in Massachusetts.
After months of discouraging reports, it finally seems as if MA’s casino industry is on the road to recovery. Stay tuned for more reports on the revenue figures here over the next few months!
Major Casino Hubs Reports Tourism Increases
Massachusetts isn’t the only state to see a jump in its gaming revenue lately. Some of the country’s biggest gambling hubs are beginning to report major increases in their revenue figures. That includes places like Las Vegas and Atlantic City.
Tourism numbers are a good indicator of how casino hubs are faring. For the majority of 2020, tourism numbers in Las Vegas were extremely low. Fortunately, there has been a steady increase of visitors to the city over the past couple of months.
Things are expected to continue getting better. Some incredible new casino-resorts are beginning to open in different areas of Nevada. Resorts World Las Vegas cost $4.2 billion to construct and will be opening its doors to the public this summer.
Resorts World is opening its doors in the northern area of the Las Vegas Strip. Many believe this venue could help to bring more visitors to this area of the city. It’s an exciting addition to the country’s biggest casino destination.
Atlantic City’s casinos are preparing for a major tourism boom, too. Restrictions are slowly being lifted here. It seems very likely that gambling revenue in the city will begin to truly surge as summer rolls around.
Are you surprised to see MA’s casino industry recovering right now? Let us know in the comments section below!