MGM Resorts remains one of the biggest and most profitable casino companies operating in the United States. It’s been working hard to expand in recent years and even appears interested in breaking into the online gambling industry. New reports indicate this company supports a move to allow legal online casinos in Nevada.
Many of the top casino companies in Nevada have pushed against this idea. It seems MGM now has a different take on the situation.
Here’s what you need to know.
MGM Officials Support Push to Allow Legal Online Casinos in Nevada
Nevada is known for being home to one of the largest casino industries in the country. It’s here that many major gaming operators are based. That includes MGM Resorts, Caesars Entertainment, and Las Vegas Sands.
Historically speaking, these companies have been against the push to allow legal online casinos in Nevada. Allowing these internet gaming platforms, the companies argued, would significantly reduce the amount of revenue their land-based casinos bring in. That has been the general consensus for years.
It seems things are changing, though. Officials within MGM Resorts International spoke to the media this week and claimed they are open to Nevada allowing online casino gambling. CEO Bill Hornbuckle claims this move would likely help casino companies, the state, and the entire US gaming industry.
“If you look at what the opportunity could be, I look forward to just talking more about all of it,” Hornbuckle said. “It could be significant not only for the state, but for the industry and nationally, and potentially even on a global basis.”
It remains to be seen if other Nevada-based casino companies feel the same way. Stay tuned for updates on Nevada’s growing push to regulate online casino gambling over the next few months.
New Jersey’s Online Casino Industry Continues to Thrive
Certain lawmakers in Nevada seem interested in allowing online casinos. These state officials may be taking a close look at how much money this industry is bringing the state of New Jersey. This was one of the first states to legalize and regulate internet casinos years ago. 2021’s second quarter was a particularly good one for the gaming industry here.
August proved to be a successful month for the online casino operators here. The total online gaming revenue here came out to $113.2 million over the course of the month. That represents an increase of 29% when compared to the same month in 2020.
The land-based casinos here performed fantastically, as well. Total land-based gaming revenue came out to $262.4 million in August. That is a staggering 32% increase from August of 2020 when the casinos here were still struggling to stay afloat.
The Golde Nugget saw the largest year-on-year increase. This property managed to bring in $15.8 million this August, up 70% from August of 2020. The Tropicana came next with an increase of 44%, followed by Resorts at 35%.
The entire US casino industry appears to be performing well right now. Expect to see these revenue figures increasing as the year goes on.
US Sports Betting Revenue Likely Increased This September
2021 has been the most successful year for the US sports betting industry in history. Many states launched their first sportsbooks this month. That includes Connecticut, Arizona, and Washington. Each has seen impressive revenue figures flowing in from this form of gambling.
August was a slow month for many US sports betting markets. September, however, is expected to be the opposite. The start of the 2021/2022 NFL season is expected to result in massive revenue surges for sports betting operators around the country.
Numerous sports betting operators have been reporting huge surges in sports betting revenue. That is likely to continue as the season goes on. It’s an exciting moment for the entire industry and is making more states look into the legalization of sports betting.
2022 is expected to be the year that several more states approve sports gambling bills. That includes California, the most populous state in the country. Even certain lawmakers in Texas seem interested in getting sports betting legalized!
Are you surprised to see MGM Resorts supporting the move to allow legal online casinos in Nevada? Will the state allow these internet gambling platforms anytime soon? Let us know in the comments section below.