North Carolina is home to several popular tribal casinos. Another exciting new casino-resort is expected to open its doors in Kings Mountain, near Charlotte. We’re now beginning to hear more about when this casino in Kings Mountain will finally begin operating!
Many are excited to see this property begin accepting guests. Hope is that the US casino industry has recovered by the time this takes place. Today, we’ll talk about how this new casino will affect North Carolina’s casino industry moving forward.
Let’s get into it!
US Casino Revenue Continues to Slowly Increase
The land-based casino industry in the United States has been heavily impacted by the events unfolding throughout the year. Back in March, all casinos across the country were shut down. As the months went on, casinos slowly began opening again with intense safety measures set in place.
Commercial casinos have been hit harder than tribal gambling venues. These commercially-owned casinos are subject to state regulations. As a result, many of them have been forced to shut down again in recent weeks.
Tribal casinos, however, are not forced to abide by state laws. As a result, most of them have remained open to the public. This has led some tribal casinos to see increases in their revenue this year.
Casino revenue throughout the US has been slowly increasing lately. Over in Arkansas, for example, casinos have been seeing steady increases in their gaming earnings. The state’s three casinos reopened in May and are now operating at limited capacity.
Las Vegas is also seeing its casino revenue slowly increase. Unfortunately, tourism here remains significantly lower than what was seen in 2019 and several of the biggest casinos here have recently begun closing during certain hours of the week to cut down on costs. Many analysts predict larger revenue drops as the winter months approach.
Online casino gambling is more popular than ever before, as well. There are a huge number of fantastic internet casinos spread around the entire country. That includes Bovada, which offers a wide range of different games and safe payment options.
It’s an interesting time for the nation’s gambling industry. We’re now beginning to hear more about the proposed casino in Kings Mountain, North Carolina!
Catawba Nation Offers Another Update on the Casino in Kings Mountain
North Carolina is one of several states that ban commercial casinos. Tribal casinos, however, have been able to operate here since the 1990s. Several groups have presented plans to open new casinos here over the past few decades.
That includes the Catawba Nation. This tribe has been pushing hard to open a major casino in Kings Mountain for years. Finally, in July of this year, groundbreaking on this exciting new project finally began.
This tribe is now offering information on when this new venue will open its doors. According to new reports, this new property is expected to open its doors next fall. The total cost of this project is projected to be $273 million.
Tribal Administrator Elizabeth Harris recently issued a letter to Governor Roy Cooper, explaining how this gambling venue will be run. She claims this will be the first Vegas-style casino in the Charlotte area. It will include slots, table games, and sports betting options.
The Governor and members of the Catawba Nation are now engaged in negotiations over a gambling compact. Members of the tribe claim they do not intend to begin construction before this compact is awarded. Anything is possible, though.
If all goes according to plan, this new casino will open its doors sometime next fall. We’ll continue offering updates on how negotiations between the state and the Catawba Nation play out over the next few months.
North Carolina’s Sports Betting Industry Could Launch by March
Several lawmakers in North Carolina began pushing to regulate sports betting shortly after PASPA was removed in May of 2018. Finally, in July of 2019, Governor Cooper signed a bill to “allow sports and horse race wagering on tribal lands.” State officials have been working to come up with plans for this industry ever since.
This has proven more difficult than many initially expected. In order for any sportsbooks to go live here, Cooper and the Department of the Interior needed to approve a new tribal compact. This has yet to take place.
Members of the Cherokee Nation claim they are still waiting for the Governor’s signature. In the meantime, the construction of two sportsbooks inside tribal casinos has been finished. Hope that the state would finally have legal sports betting ready by Super Bowl weekend is now dwindling.
Many analysts predict that North Carolina’s first sportsbooks will launch in March. That could help the state to generate revenue from March Madness. This tournament is one of the most-wagered-on sporting events every year.
As most are aware, North Carolina will not offer regulated online sports betting options. Wagers will need to place in-person at a tribal casino. Perhaps this will change once the state begins seeing revenue from this industry come in.
2021 is shaping up to be a big year for North Carolina’s gambling industry. We’ll need to wait and see if the casino in Kings Mountain finally opens sometime next fall. Stay tuned for more updates!