For months, there has been an ongoing discussion on whether or not to begin allowing casinos to operate in the state of Texas. Many, particularly lawmakers, are torn on the subject. New reports claim that a growing number of state residents are now pushing to allow legal casinos in Texas.
Many analysts now feel that allowing casinos will help to bring the state a huge amount of revenue each year. It could also help to keep more money from flowing into neighboring states with casino industries up and running. Now is a great time to talk about what could lead to casinos being legalized here soon.
Let’s get into it!
Las Vegas Sands Continues Pushing Into Texas
The US gambling industry has been growing steadily over the past decade. Prior to 2020, casino revenue was surging around the United States. Many states began allowing new casino-resorts to open.
Of course, the events that unfolded in 2020 put a halt to much of this progress. For months, all casinos around the country were completely shut down. Most began reopening around the summertime, yet revenue figures were extremely slow to increase.
Despite the difficulties, Las Vegas Sands is continuing to make a push into the state of Texas. This isn’t easy when considering all casinos are completely banned here. Company officials are trying to convince lawmakers to finally change their stance towards this industry.
Things have been extremely tough for Las Vegas Sands in recent months. The company has been seeing extremely low earnings over the past twelve months. Longtime CEO Sheldon Adelson passed away earlier this year. LVS was even forced to sell The Venetian Casino-Resort in Las Vegas to focus more on operations in Asia.
Texas remains an extremely exciting market for some of the country’s biggest casino companies. Many feel that it’s time for the Lone Star State to update its gambling laws. That includes a huge number of residents.
There is some progress being made to finally allow casinos here. Unfortunately, several massive hurdles are in the way of the state’s casino industry launching.
Majority of Residents Support Allowing Legal Casinos in Texas
There are many states around the country that do not allow casinos. There are many reasons why this is. As the years go on, however, more parts of the country are taking a closer, more realistic look at this industry.
Texas has been known as one of the most anti-gambling states for years. It’s a shame, as several nearby states such as Louisiana and Oklahoma are home to a huge number of popular casinos. Lawmakers in Texas have simply pushed against allowing any casinos to operate in the state.
A new poll by The Dallas Morning News and the University of Texas at Tyler revealed that the majority of residents in Texas now support allowing casinos. 57% of those polled support casinos. Just 29% of those polled were against the legalization of casinos.
This isn’t completely surprising. An estimated $2.5 billion is spent on gambling operations in other areas of the country. Many residents here now recognize that fact and believe this money should stay within the state.
Many lawmakers are still pushing against the legalization of casinos. Even Governor Greg Abbott seems to feel this isn’t a pressing issue right now. It will be very interesting to see how things evolve with the gambling industry here over the next few months.
Texas could someday be home to a large casino industry. There are now many asking how things will play out in the country’s biggest gambling hub, Las Vegas.
Las Vegas May Bounce Back This Summer
2020 took a devastating toll on the entire US casino industry. Las Vegas was hit particularly hard because of the events that unfolded last year. The casino shutdowns here were forced to close their doors for months, leading to an almost complete stop of tourism.
Things are beginning to improve here, though. Tourism has been slowly increasing in Las Vegas throughout 2021. A drop in infection rates has led Governor Sisolak to remove certain restrictions that also help to boost tourism rates.
Some analysts believe that by summer, the city will be in the middle of a major comeback. Summer tends to bring the most tourists into Las Vegas. With effective vaccine distribution, many are likely to feel more comfortable making the trip to the country’s biggest casino destination.
Casinos here are already seeing an increase in revenue. Several recently began resuming their 24-hour operations. If infection rates continue to drop, more venues such as nightclubs and similar venues will be given permission to reopen.
There could be a huge comeback for the entire US casino industry. Gambling companies are certainly hopeful. We’ll be sure to report on more revenue earnings over the next few weeks.
Do you think we’ll see legal casinos in Texas soon? Let us know in the comments section below!