The gambling industry in Nevada is the largest and most successful in the world. A huge number of casinos and sportsbooks are based here. This week, reports surfaced showing that Nevada’s total casino revenue set new all-time records in 2021.
Gambling revenue surged throughout the US over the past year. Now is a great time to look at how the various gambling operators fared in Nevada.
Here’s what you need to know!
Reports on Nevada’s Total Casino Revenue in 2021 are Out
Nevada has been the United States’ gambling hub for decades. Some of the most powerful gaming companies in the world are based in this state. The gambling industry here struggled immensely in 2020, yet things completely turned around in 2021.
The gaming industry in Nevada thrived over the past year. Several of the casinos here broke monthly revenue records. New reports surfaced this week that show Nevada’s total casino revenue set an all-time record over the year.
The casinos in this state managed to bring in a combined $13.4 billion over the entirety of 2021. That represents an impressive 11.6% increase when compared to 2019, which held the previous revenue record. Certain months of the year proved to be far more successful for the state’s casinos than others.
December proved to be a solid month for Nevada’s casinos. The casinos here managed to bring in $1.15 billion over the course of the month. Casinos on the Las Vegas Strip proved to be the most successful, bringing in $651 million in total gross gaming revenue.
2022 has just begun and casinos are already bringing in a huge amount of revenue. Let’s take a look at some of the major changes coming to the city this year.
More Casino Companies Look to Break into Las Vegas
Las Vegas remains the biggest and most profitable gambling destination in the world. This city managed to survive the events that unfolded in 2020. Things proved much different in 2021 and many casino companies are now interested in breaking into this city’s gambling industry.
This is likely possible with all of the casino sales taking place here. Some of the biggest gambling companies in Las Vegas have agreed to part ways with Las Vegas Strip properties recently. That opens the doors for many gambling companies to make their way into this city.
Several Native American tribes are working hard to break into the Las Vegas market. That includes Hard Rock International. Not long ago, this company agreed to purchase The Mirage from MGM Resorts International for just over $1 billion.
Some major casino renovations are slated to take place this year, too. Caesars Entertainment recently announced it is planning a massive renovation and rebranding of Bally’s Las Vegas. This property will be renamed the Horseshoe Las Vegas and is expected to complete its renovations by the end of the year.
Nevada’s total casino revenue surged in 2021 and all signs point to 2022 being an even better year for the state’s casinos. Stay tuned for updates on how the gambling industry here is faring over the next twelve months.
The US Sports Betting Industry is Expanding Quickly in 2022
Casinos around the United States are bracing for a very exciting year. Most analysts are expecting casino revenue to surge throughout the year. It’s now clear that states are interested in expanding their sports betting industries, too.
Several states have already begun to expand their sports betting industries this year. Earlier this month, New York’s lawmakers gave final approval for online sportsbooks to begin operating.
Several major sports hubs are expected to legalize sports betting this year, too. Experts predict that a vote to legalize sports gambling will appear on the votings ballots in California this November. Massachusetts and Vermont are likely to begin allowing this form of gambling this year, too.
The US gambling industry is growing at a rapid pace. Assuming the pandemic continues to slowly end, this trend will continue. Analysts around the country will continue to report on the growth of various state casino and sports betting industries as 2022 goes on.
Are you surprised to see that Nevada’s total gaming revenue set a record last year? Will 2022 be an even better year for Nevada’s gambling industry? Let us know in the comments section below.