US Gambling Revenue Has Already Broken Records This Year

Las Vegas Sign And Strip Background With Money Piles

At the start of the year, gambling analysts around the United States were busy debating how well the country’s gaming industry would fare throughout 2021. Those that predicted a successful year for this industry are proving to be correct. New reports have just surfaced claiming US gambling revenue is already breaking records.

This is a major accomplishment for the gambling companies here. Now is a great time to talk about exactly how much gambling revenue has already been earned this year.

Let’s get into it!

AGA Gives Another Exciting Look at US Gambling Revenue Reports

The United States has been rapidly expanding its gambling industry lately. Early into 2021, the American Gaming Association released a report claiming that this year would be the best in history for the US gambling industry. Some argued against that idea, pointing toward the ongoing pandemic and numerous health restrictions set in place inside many casinos.

It seems that the AGA’s prediction has been correct. This week, this group released a new report showing that US gambling revenue has broken all-time records through the first eleven months of the year. $44.15 billion has already been collected by the country’s casinos. That surpassed the previous revenue record of $43.65 billion set in 2019.

AGA Senior Vice President Casey Clark spoke about this incredible development to the media this week.

“When full-year numbers are in, we expect commercial gaming revenue to come in around $50 billion — a remarkable turnaround for our industry that was devastated by COVID-19,” Clark said. “Our historic recovery is a testament to gaming’s world-class hospitality and entertainment experiences.”

Casino companies around the United States continue to see incredible revenue earnings. Certain states seem to be faring better than others. Let’s take a quick look at which states have been seeing the most casino revenue flowing in this year.

Looking at the Most Successful US Casino Hubs in 2021

The United States is home to nearly 1,000 casinos. Certain states are known for being home to more gambling properties than others. Fortunately, nearly all of the country’s casinos have seen impressive revenue gains throughout 2021.

Nevada remains the biggest casino destination in the country. 2021 has been a truly special year for this state’s gambling industry. Las Vegas has reported several record-breaking monthly revenue figures and a number of exciting new properties have opened their doors in this city.

New Jersey is the largest gambling hub on the East Coast. Most of the gaming properties in Atlantic City have seen consistent revenue surges over the past eleven months. The state’s sports betting industry is also the most successful in the country and helps to bring in a huge amount of revenue every month.

Many smaller casino destinations thrived throughout the year, too. That includes states such as Colorado, Maryland, and Pennsylvania. It just so happens that these states are also home to successful sports betting industries.

Much of the US gambling revenue earned in 2021 has come from the sports betting industry. Let’s take a look at how sports gambling continues to grow more popular around the US.

Analysts Predict the US Sports Gambling Industry to Grow in 2022

Prior to 2018, Nevada was the only state legally able to offer sports betting. That all changed once PASPA decided to strike down PASPA in 2018. This decision allowed every single state to formally legalize and regulate sports gambling.

More than half the country has already chosen to do so. Sports betting revenue continues to increase and more states are looking to launch their own sports betting industries. Many are expected to do so in 2022.

California’s sports betting industry could grow to become the largest in the United States. Lawmakers are continuing to negotiate with tribal groups on the ways to launch sportsbooks in the state. Fortunately, it seems very likely that a vote to legalize sports gambling in California will appear on the ballots next November.

Massachusetts is known as one of the East Coast’s major sports hubs. Lawmakers here are working hard to get sports gambling legalized in 2022. Many feel the sportsbooks here could compete with the ones in New Jersey and New York.

Are you surprised to see how quickly US gambling revenue is increasing? Will 2022 be an even better year for this industry? Let us know in the comments section below.

More of MGM Resorts’ Plans for 2022 are Starting to Surface

Las Vegas Sign With MGM And Strip Background

Few casino companies have quite as large of a name as MGM Resorts International. 2021 has been a big year for this company and it seems as if next year will be even better. This week, more of MGM Resorts’ plans for 2020 started to surface.

It’s clear that this major gaming operator has plans for expansion. Today, we’ll talk about some of the things that MGM is looking to accomplish.

Let’s get into it!

Here’s a Quick Look at MGM Resorts’ Plans for 2022

The US gambling industry has been faring extremely well through 2021. That is incredible to see when considering how difficult things were for gambling operators here in 2020. MGM Resorts International is one company to see consistent revenue increases throughout the year. It has recently gone through several major casino sales and seems interested in more in the future.

2021 is slowly coming to an end and casino companies are starting to look ahead. Several of these companies have begun announcing important plans for next year. That includes MGM Resorts, which appears to have several important ideas for the future.

New reports claim that MGM is looking into the possibility of opening a new casino on the Las Vegas Strip. The company appears to be working toward securing land near The Excalibur. It’s unclear how large this new property would be, yet many remain interested in seeing what MGM is planning.

MGM Resorts also seems focused on expanding its betting operations around the country. This company was one of the few to obtain an online sports betting license in New York. Many feel that New York will grow to become one of the largest sports betting industries in the country and will likely bring companies like MGM Resorts a huge amount of revenue.

More details on MGM Resorts’ plans for 2022 are expected to come out over the next few months. We’ll be sure to offer more details on this company’s big moves as 2022 goes on.

State Reports on Casino Revenue Continue to Surface

Casinos around the US have seen incredible revenue earnings throughout 2021. In fact, the American Gaming Association’s prediction that this would be the best year in history for the casino industry has turned out to be correct. Most states have posted several record-breaking revenue figures throughout the year.

Many states are now beginning to release revenue reports for the month of November. Analysts are surprised to see how well various gambling hubs are faring. Some reported better earnings over the month than others.

Ohio has just released its revenue reports for November. The casinos here managed to bring in $178.8 million over the month. That represents a slight month-on-month dip, yet is a huge increase when compared to November of 2020.

Maryland is another state that is experiencing a huge year-on-year casino revenue increase. The gambling properties here reported $160.4 million over November. That is a 23% jump in revenue and shows how popular casino gambling is in the state.

Casinos are still faring very well right now. It seems likely that gambling revenue will increase significantly throughout 2022. Stay tuned for updates!

Sports Betting Revenue is Surging Around the US Right Now

The casino industry is far from the only one that is succeeding right now. The US sports betting industry has grown tremendously over the past couple of years. Sports betting revenue has been consistently increasing throughout 2021 and has apparently brought in a huge amount of money in November.

Oregon is one state to report major sports betting revenue growth. The online sports betting industry here reported a total handle of $32.6 million. The lone online sports betting app here managed to bring in $4.4 million in gross gaming revenue.

Nevada, New Jersey, and Pennsylvania all saw a huge amount of sports betting revenue flow in during November. Most of the wagers have been on the ongoing NFL season. Football betting is expected to intensify as the playoffs approach.

A huge amount of states have recently legalized sports betting, too. That includes Ohio and Maryland. Most analysts expect to see a number of more states choosing to legalize sports gambling in 2022.

What do you think of MGM Resorts’ plans for 2022? Will next year be just as successful for the sports betting industry? Let us know in the comments section below.

Casino Revenue in Maryland Surged this November

Maryland State Seal With Casino Gambling Chips

November is proving to be one of the most successful months so far this year for the US gambling industry. States around the country are reporting impressive revenue figures over the month. New reports have just surfaced claiming that casino revenue in Maryland surged last November, as well.

This is very exciting news for the gaming operators in the state. It’s also great news for state leaders looking for valuable tax revenue.

Here’s what led to this latest revenue surge.

Reports on Casino Revenue in Maryland Have Just Surfaced

Throughout 2021, gambling revenue has been steadily rising around the country. That includes both casino and sports betting revenue. These impressive gains are continuing into 2022, with more states reporting earnings leading into the New Year.

New reports on casino revenue in Maryland have just surfaced for the month of November. Once again, this state’s gambling properties managed to bring in a huge amount of money. In fact, November proved to be significantly higher than it was one year ago.

Maryland’s casino revenue in November came to $160.4 million. That represents a 23% increase when compared to November of 2020. Certain casinos in the state proved to be much more successful than others.

MGM National Harbor was the most successful casino in the state. This property brought in $57.9 million, up 22% from November of 2020. Live! Casino & Hotel brought in $58.2 million in November. These proved to be the two biggest earners over the month.

It’s clear that Maryland’s gambling industry is a successful one. All signs point to more impressive revenue figures flowing in next year. Stay tuned for updates as the months go on.

Maryland’s Sports Betting Industry Continues to Grow

The casino industry in Maryland continues to find success. There are more gambling options than just the casinos here, though. Voters in Maryland approved a measure to legalize sports betting in November of last year and officials have been working to get sportsbooks up and running in the state ever since.

Last month, five casinos in the state were given sports betting licenses. Several more casinos were given sports betting licenses this month. The current goal is for sports betting to formally go live in the state this January.

The laws approved in Maryland allow for both land-based and online sports betting to become available in Maryland. It seems likely that land-based sportsbooks will launch here first. State regulators are still coming up with a framework to license online sports betting operators.

It seems likely that Maryland’s online sportsbooks will go live within the first quarter of 2022. Most analysts agree this will be the major revenue generator for the state. State leaders recognize this fact and are working to get online betting platforms operating in the state as quickly as possible.

The Northeastern US gambling industry continues to grow. Casino revenue in Maryland is up and is likely to remain that way leading for months to come. We’ll be sure to offer updates as more revenue reports surface here in the future.

More States Report Gambling Revenue Increases Over November

Maryland is not the only state to experience impressive revenue increases this past November. Nearly every state with a casino industry set in place brought in impressive amounts of gaming revenue. Reports on these other states’ gaming industries are slowly coming out.

November is proving to be a fantastic year for the US gambling industry. States around the country are now reporting impressive revenue figures over the month. That includes revenue from casinos and sportsbooks.

Connecticut is one state to see large surges of gambling revenue flowing in. This state managed to bring in $2 million in gaming revenue over the month. The majority of revenue came in from the state’s two casinos, Foxwoods and Mohegan Sun.

Nevada continues to report massive revenue figures leading into 2022. The casinos in Las Vegas have already broken all-time revenue records this year. It seems likely that 2022 will end up being an even more successful year for these properties.

Are you surprised to see where casino revenue in Maryland stands? Will December prove to be another successful month for the casino industry here? Let us know in the comments section below.

Here’s What We Know About MGM Resorts’ Vaccine Rule

MGM Resorts Picture

MGM Resorts International has been working hard to increase its revenue figures while maintaining a safe environment in its casinos for patrons and employees. This company is now deciding to take a major step in its attempts to keep things as safe as possible. Today, we’ll discuss the details of MGM Resorts’ vaccine rule.

More casino companies across the country are being forced to make difficult decisions with regard to the pandemic. It’s an unusual situation for this industry, to say the least.

Here’s a look at what exactly is happening with MGM Resorts.

MGM Resorts’ Vaccine Rule is the First of its Kind for Casino Companies

Most of the world’s most powerful casino companies are based in the United States. That includes MGM Resorts International, founded back in 1986. This casino operator has expanded over the years and now owns successful properties around the world. That includes many popular casino-resorts in Las Vegas.

Throughout 2020, MGM Resorts experienced massive revenue losses. This company certainly wasn’t alone with those losses. Most casinos around the country were shut down for months in 2020 and all major gaming operators experienced huge monetary drops throughout the year.

MGM Resorts managed to stay afloat, due in part to its successful online gambling operations. Things have turned around massively for this company in 2021. Land-based casino revenue has been surging and casinos are reporting record revenue gains almost every single month.

Covid-19 infections have been rising around the country due to the new Delta variant. As a result, casino companies have been forced to look into adding new restrictions to protect their patrons and employees. That includes MGM Resorts International, which just recently announced that all of its employees now need to receive the Covid-19 vaccine.

MGM Resorts’ vaccine rule is the first of its kind for casino companies. MGM Resorts spokesperson Brian Ahern spoke about the company’s decision earlier this week.

“Our goal is to get as many people vaccinated as possible,” Ahern said. “We’re continuing to explore a variety of ways to do that, including expanding vaccination requirements among our workforce. This is an incredibly complex situation and we’re examining how expanded policies would potentially work and be implemented.”

Will this lead to more casino companies implementing intense Covid-19 restrictions?

Casinos Face More Pressure to Implement Health Restrictions

For a time, it seemed as if the United States had turned a corner with the pandemic. Cases were dropping quickly and hospitalizations were lower than ever. Things have begun to devolve once again, however, and many states are once again reporting large spikes in their infection rates.

This is making it difficult for casinos around the country. These properties were exposed last year for their inability to adapt. When tourism stopped, many of the most powerful casino companies around the country saw their revenue figures plummet.

There is now real pressure on many of these companies to begin setting new health restrictions in place. Some are already choosing to do so. That includes Caesars Entertainment, which recently announced it is now requiring patrons to provide either proof of vaccine or a negative PCR test to enter its Harrah’s New Orleans property.

MGM Resorts’ vaccine rule is another example of the changing times. All employees will need to submit proof of a vaccine in order to remain with the company. Some feel many other gaming companies will take this step within the next few weeks.

Las Vegas is now requiring masks to be worn at all times inside casinos. Some feel capacity limits and the closure of certain indoor venues could be around the corner. Gaming analysts are interested to see how the casinos here respond to these new rules.

There is still positive news coming from the US gambling industry. Assuming nothing dire happens, this industry remains on track to break all-time records.

Casino and Sports Betting Revenue Continue to Surge

The US gambling industry has been expanding rapidly over the past few years. That is particularly true for the sports betting industry. More than half the country now has a sports gambling industry set in place helping to bring in a huge amount of revenue each month.

2021 is shaping up to be the best year in history for the entire US gambling industry. The year’s second quarter proved to be the most successful in history. Gambling hubs across the country reported massive gains in their sports betting and casino revenue figures.

The American Gaming Association reported that 22 out of 25 states showed revenue gains when compared to the second quarter of 2019. Several of these states saw double-digit gains. There is a strong indication that overall revenue from the US gambling industry will surpass the $44 billion mark.

The start of the 2021/2022 NFL season should help to fuel revenue growth. This season is already expected to be the most-wagered-on in history. Several more states are working to launch their first sportsbooks by the start of the regular season.

Casinos will need to decide how to best approach the rise in infections around the country. Hope is that improvements are seen in the coming months. We’ll be sure to offer updates as the year goes on.

What do you think about MGM Resorts’ vaccine rule? Do you expect more casino companies to implement this measure? Let us know in the comments section below!

Here’s a Look at Louisiana’s Casino Revenue For September

Golden Nugget Lake Charles

Louisiana is known for having one of the largest and most successful casino industries in the Southern United States. Unfortunately, all of the state’s gambling venues have been badly affected by the events that have been unfolding over the past eight months. Today, we’re going to look at Louisiana’s casino revenue for September.

Things appear to be getting better here. The casinos operating in this state still have a long way to go before they reach pre-pandemic levels, though.

Here’s how much the casinos here managed to bring in last month.

Hurricanes Continue to Affect the Casinos in Louisiana

The state of Louisiana has a casino industry that dates back decades. The majority of gambling venues here are riverboat casinos located in the coastal regions. There are also several popular Native American casinos and “racinos” offering both racing odds and select casino games.

All of these casinos have been hurting this year. For a time, they were forced to remain closed due to health concerns. They began reopening over summer, yet hurricanes have continued to force additional closures.

Back in August, Hurricane Laura struck the Lake Charles area of Louisiana. This part of the state is known for having a huge number of popular casinos. Unfortunately, this hurricane caused the roof of the Golden Nugget Lake Charles to blow off.

Just last week, Hurricane Delta struck the area once again. The casinos were all forced to close down and many are reporting damage. These storms are making an already-difficult year even tougher for the casinos here.

Casino revenue earnings have been fluctuating for months. Some of the major gambling venues here seem to be performing better than others. Today, we’re going to talk about how much the casinos around the state managed to bring in this September.

Some are surprised to see how much money these casinos brought in.

Breaking Down Louisiana’s Casino Revenue for September

Prior to 2020, Louisiana was seeing its gambling revenue increase rapidly. Several new gambling venues have opened here over the past few years. Each time a revenue report comes out in 2020, it becomes clear that this industry still has a long way to go to recover.

New reports from the Louisiana Gaming Control Board show that all of the state’s gambling properties managed to bring in $126 million over the month of September. That’s a drop of 31.3% when compared to the same month in 2019.

The riverboat casinos here managed to bring in the most money. Incredibly, the three riverboat casinos based in Baton Rouge actually saw a 4.6% revenue increase when compared to September of 2019. Lake Charles saw a major dip.

Partly due to the aforementioned hurricanes, Lake Charles saw its casino revenue drop by 64.9% year-on-year. The casinos here managed to bring in just $21.8 million. It’s important to note that some of the casinos here were closed for the entire month.

Video poker is surging here, bringing in $54.5 million. Much of this was earned from the Baton Rouge casinos, which saw $18.8 million in September. The casino industry in New Orleans saw a drop in revenue of 31.2%.

It’s going to take months, if not years for Louisiana’s casino revenue to return to normal. We’ll continue offering monthly updates as they come out. Stay tuned!

2020 Could be the Year Louisiana Finally Legalizes Sports Betting

Lawmakers around the United States have been taking a much closer look at the gambling industry lately. At a time when money is desperately needed, casino and sports betting regulations are beginning to change. 24 states have now passed bills to legalize and regulate sports gambling.

Louisiana will now send the issue of sports betting to the polls in November. Residents here will have the opportunity to decide whether or not they want to allow regulated sports betting platforms in the state. Most predict it will be approved by a wide margin.

This should help to bring the state a massive amount of money each year. States like New Jersey are earning millions each month from the industry. Not long ago, sportsbooks in NJ saw a record handle of $748 million.

It’s an exciting time for sports fans in Louisiana. Richard Carbo, one of the men leading the push for legalized sports betting, spoke about the benefits to the media recently.

“We’re losing out on more than $330 million in taxable revenue while states next door like Arkansas and Mississippi use sports wagering revenues for education and infrastructure,” Carbo said. “That revenue could be used to fund roads and bridges or help fill gaps in education funding here in Louisiana.”

Sports betting may even help to boost Louisiana’s casino revenue in the long-run. Do you think this form of gambling gets approved this year? Let us know in the comments section below!

Stanley Ho Has Passed Away at Age 98

Macau is considered one of the world’s premier gambling destinations. Stanley Ho is widely considered to be one of the most instrumental person in making that happen. Unfortunately, news has surfaced that Ho has passed away at age 98.Stanley Ho

It comes at an unusual time for Macau. Casino revenue here is now lower than it has ever been. Today, we’re going to discuss what this territory is doing to recover from the current economic situation it finds itself in.

Let’s get into it!

Macau’s Casino Revenue Continues to Plummet

Macau is home to many of the biggest and most expensive casino-resorts on the planet. Over the past few decades, it’s grown to become one of the world’s top gambling destinations. Unfortunately, revenue here has been dropping steadily for more than a year.

China’s economy has slowed considerably due to the US trade war it’s currently engaged in. As a result, fewer Chinese nationals are visiting Macau. As many are well-aware of, Macau relies heavily on Chinese gamblers for revenue.

This situation was tough on casino companies here. It was, however, manageable and many felt that as the Chinese economy improved, things in Macau would get better, as well. Unfortunately, the global pandemic has taken things from bad to horrible.

For a time, all of the casinos in Macau were closed down. They eventually opened back up, yet tourism here is almost non-existent. As a result, many of the casino companies in Macau are losing millions of dollars every day. It’s still unclear when revenue figures will begin to improve.

It’s a very difficult situation. Many of the city leaders here are now working to come up with ways to boost tourism. Unfortunately, one of the men responsible for making Macau what it is today has just passed away.

Stanley Ho Passed Away This Week

Those in the casino industry are well-aware of Stanley Ho. The former smuggler grew to become one of the most powerful men in Macau. He wasn’t without controversy, though, and many have criticized the casino mogul for his connections to several powerful crime groups.

Ho fled to Macau during World War Two. He was broke at the time, and ended up smuggling goods into China from Japan. As the war came to an end, Stanley Ho began to lead the reconstruction of Hong Kong.

In the 1960s, Ho secured a monopoly to control Macau’s emerging casino industry. It proved extremely profitable and he quickly became one of the richest men in China. As his age increased, Ho’s daughter began to take over much of his responsibilities.

New reports confirm that Stanley Ho has passed away at the age of 98. Many in the casino industry are paying their respects to one of the most important casino owners in Asia. Pansy Ho has already released a statement, claiming she knew it was coming, yet she’s still incredibly sad.

“The family of Stanley Ho today, with a very heavy heart, announced that [Ho] passed away peacefully at the age of 98 at around 1:00 pm today at HKSA,” Pansy said in an official press conference. “Even though we knew that this day would come, it doesn’t lessen our unspeakable sadness.”

This isn’t likely to have any major effect on Macau. As we mentioned earlier, Stanley’s role in the industry was passed on years ago. Casino owners are now looking at other leaders in Macau for news on how the city will improve.

US Land-Based Casino Industry Begins to Reopen

Macau isn’t the only area where casinos are struggling. All over the world, gambling venues are seeing their revenue earnings drop. That includes all of the casinos in the United States. Fortunately, things are beginning to improve here.

Some states have allowed their casinos to open back up. In Mississippi, for example, most of the coastal casinos are now accepting guests at limited capacity. The same is happening in Oklahoma.

Even some of the casinos in California have begun operating again. It’s surprising, considering this state has been one of the slowest to reopen. All of the casinos here are run by Native American tribes and sit on sovereign land.

Interestingly, casinos are still not open in Las Vegas. It’s been incredibly difficult for this city, which continues to lose millions of dollars every single day due to these regulations. Based on what city officials are saying, casinos will open back up here next month.

When Las Vegas casinos reopen, they won’t look the same way they did in the past. Major social distancing measures will be set in place to protect guests and staff. It’s unclear how much revenue these casinos will be able to generate.

Are you sad to hear about the passing of Stanley Ho? When do you expect Macau to recover from this current situation? Let us know in the comments section below!

Gov. Reeves Changes His Tune on MS Casino Openings

Mississippi has one of the biggest casino industries in the United States. Not long ago, Governor Tate Reeves announced that he planned to open the state’s casinos by Memorial Day. Unfortunately, Reeves is now changing his tune on MS casino openings.Mississippi

It seems health experts have informed the governor about the dangers of opening casinos too early. This isn’t going to sit well with casino companies here, many of whom have been preparing for an upcoming opening date. Today, we’re going to look at why Governor Reeves is taking this new stance.

Let’s get into it!

Mississippi’s Casino Industry Remains Shut Down

When most people think of US gambling hubs, cities such as Las Vegas and Atlantic City usually come to mind. Some are surprised to find that Mississippi actually has one of the largest and most successful casino industries in the country. A huge number of coastal casinos are located here, most of which bring in a huge amount of revenue every month.

At the start of this year, gambling revenue in Mississippi was surging. Many predicted that 2020 would be one of the best years in history for casinos here. Unfortunately, things completely changed in March.

Lawmakers in the state decided to shut down all casinos that month. As the new coronavirus began spreading around the country, different state officials determined that casinos pose too much of a risk for major infection spread. No one could say when these gambling venues would be allowed to open once again.

Governor Tate Reeves recently gave casino companies something to get excited about. He offered a plan for MS casino openings and claimed these venues would be allowed to accept guests by Memorial Day. Unfortunately, that is no longer the case.

Many states are currently looking at ways to open their gambling industries. Some are finding some relief with regulated online gambling revenue. Here’s what Mississippi’s Governor now has planned for casinos in this state.

Governor Reeves is Changing His Plan for MS Casino Openings

Closing down casinos was necessary to prevent major Covid-19 outbreaks. Unfortunately, this decision is having a massive effect on the entire state. As many are well-aware of, thousands of Mississippi residents are employed in the gambling industry. Most of these people are now out of work.

Casinos here also help to bring the state valuable revenue. They promote tourism, which in turn helps many other state businesses. It’s no surprise that so many people here are now asking for an update on when casinos in the state will reopen.

Governor Reeves recently claimed that casinos in the state would open by Memorial Day. He’s now beginning to change his tune. That doesn’t mean these MS casino openings are impossible by the end of this month. Reeves is just hesitant to confirm this date.

“It’s certainly possible,” Reeves said about casinos opening by Memorial Day. “It is something that I am interested in looking into and doing. There’s a lot of different guidelines the regulators, the industry, my team and the health team are looking at if we reopen casinos, and we will, I committed to myself on day one that we’re going to make a decision based on what is best for Mississippi residents every single time.”

When MS casino openings do take place, the state’s gambling venues won’t look the same way they did earlier this year. There will be strict social distancing measures set in place throughout all casinos. This includes limited seats at tables and more space between slot machines.

It’s a difficult situation. Mississippi isn’t the only state that’s looking at new ways to reopen casinos, though.

More States Work to Relaunch Gambling Industries

Many different industries around the country are taking a hit right now. The casino industry might be the hardest-hit. All casinos around the country are shut down and revenue has completely stopped coming in.

Some parts of the country are being hit harder than others. Las Vegas, in particular, is losing an incredible amount of revenue right now. Tourism has completely stopped in this city and many of the casinos here are losing millions of dollars every single day.

Obviously, many are now calling for casinos in Las Vegas to reopen. Governor Sisolak is extremely hesitant to do so, claiming it would pose too serious of a health risk. It’s still unclear when exactly things will start getting back to normal here.

Atlantic City is taking a major hit, as well. Several bills were recently presented here to help casino companies. Interestingly, some city leaders feel these bills will not benefit residents of Atlantic City.

It’s a tough time for the land-based gambling industry. Based on the way things are going, MS casino opening may not take place for at least a few more weeks. We’ll need to wait for another update from Governor Reeves.

Stay tuned for more Mississippi casino news!

Several Bills to Help NJ Casinos Have Been Introduced

New Jersey is experiencing one of the worst outbreaks of Covid-19 in the United States. Unsurprisingly, this virus has taken an incredible toll on the land-based casino industry in this state. Recently, several bills to help NJ casinos were introduced, yet some lawmakers here are already expressing their concerns.Sky View Of Atlantic City

Casinos help to bring a huge amount of revenue to New Jersey every year. Cities like Atlantic City are now essentially shut down. Today, we’re going to look at the details of these new casino relief bills.

Let’s get into it!

New Jersey’s Casino Revenue Fell Quickly Last Month

Everyone knew that US casino revenue figures in March would be bleak. Last week, the reports finally came out and it seems these predictions were correct. Every state with a land-based casino industry saw its revenue drop considerably.

Reports indicate that New Jersey saw a revenue decline of $124 million. That’s the largest drop in the state’s history. Not even the state’s online gambling industry helped to make up for the money lost.

This is a shame, as things were looking fantastic in Atlantic City at the beginning of this year. In January, gambling revenue here increased by 23% compared to the same month in 2019. That progress has now come to a screeching halt.

The effect that this is having on casino companies is clear. Some are losing millions of dollars every day. Not long ago, a city councilman told the media that Atlantic City may never recover from this global pandemic.

Times are certainly tough for casinos. It’s a very difficult situation, particularly due to the fact that no one can say when these casinos will be allowed to open once again. Officials in New Jersey have been looking at ways to help the gambling industry. Unfortunately, not everyone is on board with what lawmakers here are proposing.

State Legislature Proposes Several Bills to Help NJ Casinos

The land-based casino industry has been one of the hardest-hit in the country due to this pandemic. It’s becoming clear that some will never recover. This situation has also been extremely difficult for millions of workers who are employed in the hotel-casino industry.

Lawmakers recognize this and many are working to help these casino companies get through this difficult time. Recently, multiple bills to help NJ casinos were introduced. It was exciting news for many in Atlantic City who hoped this would start to push the city forward.

These bills are already taking their fair share of criticism. They are intended to offer casinos relief on taxes and fees. Other state loans would be used to cover casino property payments for the next few months.

Assemblyman Vince Mazzeo isn’t on-board with the proposed relief efforts. He believes the bills will end up taking away funds from the community and granting them to casino companies. Mazzeo is particularly concerned with the idea of taking from the state’s Property Tax Relief Fund, a decision he feels is detrimental to city taxpayers.

Charity Jeffries, Chief of Staff for Assemblyman John Armato, commented on the situation to the media this week.

“The concern is not that casinos don’t need a little help, but why is it coming at the expense of Atlantic City and Atlantic County taxpayers again?” Jeffries said. “We don’t know what help they need. Casinos don’t have facts and figures. Why are we rushing?”

There are many measures that these bills set to protect casino companies. Even if they’re approved, however, they may not be enough to keep some of these companies from going under. Only time will tell how things play out in one of the country’s biggest gambling hubs.

How Are Other State Gambling Industries Doing?

New Jersey is far from being the only state with a gambling industry that’s hurting. As many are well-aware of, all land-based casinos around the country are completely closed down right now. This is taking a serious toll on many parts of the country.

Obviously, many are looking at the effect this pandemic is taking on Las Vegas. The city has completely closed down and tourism has completely stopped here. Hundreds of thousands of people are now left without a job here due to the current restrictions.

Nevada’s Governor Steve Sisolak is extremely hesitant to allow casinos to reopen. Carolyn Goodman, the Mayor of Las Vegas, has repeatedly called for the city to reopen. It’s still unclear when casinos will be given permission to open their doors again.

Many other states continue to look at plans for the future. In Washington, several tribal leaders recently began to discuss ways to reopen their casinos. This includes measures to allow social distancing inside casinos.

April’s casino revenue figures have not been released yet. Most analysts predict that last month will be the worst in the history of the US casino industry. Hope is that things began to improve as the summer approaches.

Several new bills to help NJ casinos have now been introduced. Unfortunately, some feel these will end up hurting Atlantic City’s community. Stay tuned for more updates on this situation over the next few weeks!

Here’s an Update on Mississippi’s Casino Plans

Mississippi River Boat CasinoMississippi is home to one of the largest casino industries in the United States. For more than a month, however, all of the casinos in this state have been shut down. This week, Governor Tate Reeves offered an update on Mississippi’s casino plans.

It appears we may be just a few weeks away from seeing all of this state’s casinos open back up. That’s great news for gambling fans and the owners of these properties. Here’s what we know about this situation.

Casino Revenue in Mississippi Fell Quickly in March

Back in January, the first cases of COVID-19 began appearing in the United States. As the weeks went on, this new coronavirus began spreading throughout the country. Many states began shutting down all non-essential businesses as a way to prevent major surges in infections.

On March 16th, officials in Mississippi decided to take the same route. Governor Reeves announced that all casinos in the state were being forced to shut down. This was an unprecedented move, as these casinos employ thousands and help to bring valuable revenue to many parts of the state.

Reports just recently surfaced that show how much money was really lost here. According to the Mississippi Gaming Commission, casino revenue here fell by 50% last month. These gambling venues earned just $67 million in the few weeks they were open. In March of 2019, casinos in the state brought in $124 million.

Of course, these venues likely earned almost no money in April. Casinos here were shut down for the entire month. How exactly that will affect the state economy is unknown.

Many have called for the casinos in Mississippi to open back up. That includes several major casino companies, some of which are losing millions of dollars every week due to the regulations. Fortunately for these companies, casinos in the state may open back up within the next few weeks.

Governor Reeves Offers an Update on Mississippi’s Casino Plans

Several states around the country are now beginning to open back up. That includes Georgia, which is appearing to see a spike in COVID-19 cases. Interestingly, more states are now making preparations to open up different businesses.

Casinos are some of the toughest venues to reopen to the public. Generally speaking, these venues feature a large number of individuals packed into a relatively small area. They are perfect places for a virus to spread. As a result, many casino owners are making changes to ensure these venues are as safe as possible.

This week, Governor Tate Reeves claimed that casinos will likely be open by Memorial Day. He seems to agree with casino owners that it’s time to reopen the state economy.

John Ferrucci, general manager at Silver Slipper in Hancock County, was one of the first casino officials to hear about the update on Mississippi’s casino plans. He revealed some of the preparations his casino is making to ensure public safety.

“We’re excited about it and I’m glad the word is getting out today,” he said. “We’re not going to have table games probably the first weekend.”

All casinos in the state will be forced to make changes. It’s almost guaranteed that masks will be required by guests and dealers. Many also expect tables to limit the number of players. Hopefully, these venues are able to bring the state money once they finally reopen.

Las Vegas Casinos Will Remain Closed for Weeks

Over the past month, we’ve reported on the Las Vegas casino closures. The decision to close casinos here has been a major source of controversy, as the city relies heavily on its gambling industry. It’s still unclear when these gambling venues will be allowed to reopen.

Las Vegas Mayor Carolyn Goodman has publicly ridiculed the current restrictions. She called them “total insanity.” When pressed by Anderson Cooper about how to safely reopen Las Vegas, however, she did not seem to have a clear answer.

Earlier this week, Governor Steve Sisolak decided to extend the state’s stay-at-home measures. He believes Nevada is not quite past the peak of infections. It appears he also feels it’s too early to allow visitors to gamble inside casinos.

Many casinos in this state are already preparing to open back to the public. Recently, news surfaced that MGM’s Bellagio and New York New York properties are likely to be the first to reopen. There is still no clear answer on when exactly this will take place, though.

It’s a very interesting time for the entire US casino industry. With the update on Mississippi’s casino plans, it looks like this state may be the first to reopen gaming venues. Officials in Las Vegas will be looking very closely at how this ends up working out.

Are you surprised to hear that Mississippi is opening casinos again? When do you think Las Vegas will begin to reopen? Let us know in the comments section below.

MGM Resorts Confirms Nearly 63,000 Employees Furloughed in First Quarter Report

MGM Grand CasinoMGM Resorts International reported its first quarter earnings for 2020 after the stock market closed today, April 30. Despite raking in literally billions of dollars from slots and table games in the first two months of the year, closing casinos in March lead to net losses for shareholders.

Bill Hornbuckle, the Acting CEO and President of MGM Resorts, kicked off the earnings call by explaining how the COVID-19 pandemic impacted its properties around the world. In the wake of the global outbreak, MGM regretfully furloughed nearly 63,000 employees and suspended casino operations. However, the company and its partners have collectively raised $12.8 million to support employees in need and their immediate families. Furthermore, they’ve donated over $1 million in food and products to families in the United States affected by the pandemic.

MGM’s Revenues Decline Despite Raking it in From Slots

Understandably, the temporary closures resulted in a substantial decrease in income for the company. MGM reported consolidated net revenues of $2.3 billion, a 29% decline compared to the same quarter last year. MGM China reported a 63% decrease in net revenues. Consolidated operating income totaled $1.3 billion. The sale of Mandalay Bay and the MGM Grand Las Vegas resulted in a $1.5 billion gain for the company this quarter.

Compared to the same period in 2019, MGM saw a 16% increase in casino revenues from their Las Vegas Strip resorts in the first two months of this year. However, the closures in March led to a 12% decrease for the first quarter overall. MGM’s properties on The Strip ultimately netted $1.1 billion in casino revenues through March 31, 2020. The total handle for slots alone was $2,457,000,000! Considering MGM’s hold of the total wagered on slots was 9.4%, it’s no wonder they can afford to keep building casinos.

MGM Uncertain on Timeline for Reopening US Casinos

In the United States alone, MGM Resorts owns properties in Maryland, Michigan, Massachusetts, Mississippi, Nevada, New Jersey, New York, and Ohio. Accordingly, the company depends on the Governor of each state to provide guidance on how social distancing guidelines will impact its business operations in each state. Hornbuckle offered the following statement on MGM reopening its domestic casinos:

“It is still premature to predict the opening dates of our domestic properties. In the meantime, we are collaborating with public health officials, experts in epidemiology and biosafety, and both state and federal government to come up with a set of protocols that will help deliver a safe, secure environment for our employees and guests.”

MGM expects its “dry markets” (properties frequented by state residents) like Mississippi to rebound before its premiere “fly-in” destinations (cities like Las Vegas, NV, that attract domestic and international tourists).

MGM Is Looking Forward to Expanding Abroad

Despite the economic downturn, MGM Resorts was able to raise $750,000,000 in capital by issuing corporate bonds. Championing its strong liquidity, Bill Hornbuckle reassured investors the company’s long-term plans are still in motion. The supplemental report from the earnings call emphasized MGM’s focus on establishing a larger presence in sports betting and on-line gaming. Internationally, the company plans to grow its business in Macau and develop a new integrated resort in Japan.

It’s too soon to tell when MGM’s revenue will return to “normal” levels. However, casinos in Macau are open for business again and customer bookings for next year haven’t taken a hit. Clearly their clientele is just as ready for casinos to reopen as the company is.