2021 has proven to be one of the most successful years in history for the US casino industry. It seems this news has reached various state leaders around the country looking for their own piece of the revenue pie. Today, we’ll take a look at some of the states expanding their casino industries right now.
There is reason to believe that 2022 will be another hugely successful year for the country’s gaming industry. Some gambling operators are likely to fare better than others.
Here’s what you need to know.
Here’s a Look at the States Expanding Their Casino Industries
In early 2020, all casinos around the United States were forced to shut down. This was unprecedented and resulted in huge losses for many of the country’s biggest gaming companies. It also took a devastating toll on many cities that rely on casinos to bring in tourism and revenue.
Things completely turned around in 2021 and many states have already set monthly revenue records this year. This has caught the attention of various state leaders, many of whom are desperate for new ways to increase tax revenue. Gaming analysts are now seeing many states expanding their casino industries right now.
Virginia is one such state. Back in 2020, voters here approved a measure to allow four different casinos to open around the state. Several major gaming companies have already submitted proposals to operate casino-resorts in this state.
Illinois is another state working to expand its casino industry. A Capital Plan approved in 2019 allows for several new casinos to open here, including one in Chicago. Mayor Lori Lightfoot is now working hard to finally get construction in this Chicago casino started.
Colorado, Indiana, and New York are all beginning to expand their casino industries, too. 2022 is shaping up to be a massive year for various US casino operators. Casino revenue reports for October have just been released and some are surprised to hear how much money some state’s casinos brought in.
US Casino Revenue Surged Over the Month of October
Casino revenue has been surging throughout 2021. This was certainly the case this past October. Many states released their October casino revenue reports and it’s clear this was another successful month for the US casino industry.
Missouri’s casinos reported solid earnings over October. The casinos here managed to bring in $162 million in total GGR over the month. That represents almost a $10 million increase from both August and September.
Massachusetts actually set an all-time casino revenue record last October. The state’s three casinos brought in a combined $95.98 million this October. That is just slightly higher than the previous record set in July at $95.74 million. Table games proved to be particularly popular last month.
Illinois is one of the states expanding its casino industries right now. This past October, the casinos here managed to bring in just over $109 million in total gross gaming revenue. That represents a modest 2.7% increase when compared to September.
November and December are expected to be hugely successful months for the US casino industry, too. We’ll be sure to report more on these revenue reports as the year goes on.
More States Prepare to Legalize Sports Gambling
The US sports betting industry continues to grow at a rapid pace. The year is slowly coming to an end and several states appear on the brink of legalizing this form of gambling. That includes some of the most passionate sports hubs in the country.
Lawmakers in Ohio continue pushing to get a sports gambling bill approved before the end of the year. HB 29 has been making some serious progress, yet has faced delays in the House. Several state officials remain optimistic that things will move forward before the end of the month.
Massachusetts is another state that some feel could approve a piece of sports gambling legislation before the end of the year. This state is known for having one of the largest sports fan bases in the country. It’s reasonable to assume that sports betting will grow to be hugely popular here.
Many states are expected to legalize sports betting in 2022, as well. That includes California, the most populated state in the country. Stay tuned for more updates on the legalization of sports gambling as the months go on!
Are you surprised to see more states expanding their casino industries? How will 2022 be for the country’s sports betting industry? Let us know in the comments section below.