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.

Gambling Revenue in Nevada Dropped Sharply Last Month

Nevada remains shut down due to the quick spread of the new coronavirus. As a result, the state’s gaming industry is essentially closed off to the public. New reports indicate how much gambling revenue in Nevada fell last month.

Revenue Drop Picture

It’s disappointing, yet not entirely surprising news. Not even the top officials in the state can accurately say when casinos will get back to normal here. Today, we’re going to look at how much revenue was earned last month.

Let’s get into it!

Nevada Officials Discuss Plans to Reopen Casinos

We’ve been reporting on the casino closures in Las Vegas for weeks. Things began in March, when Governor Sisolak called for all non-essential businesses, including casinos, in the state to close down. The Governor did not give a clear answer on when these gambling venues would be able to open their doors again.

As time goes on, the impact of these regulations becomes more severe. The gambling industry in Nevada employs a huge number of individuals. Unfortunately, the majority of these workers are now unable to work due to all casinos being closed.

This is obviously affecting the state’s tourism industry, as well. Almost no one is choosing to visit Las Vegas right now. As a result, many other businesses in the state that rely on tourists are now suffering, as well.

Nevada’s gambling regulator is now beginning to discuss plans to reopen casinos. This state government body is making it clear they need to see social distancing measures set in place. It’s also likely that we’ll see temperature checks will be required on the casino floor.

Several casinos have announced they’re preparing to open next month. Until the Governor gives these casinos the green light, however, this won’t be possible. This week, new reports are beginning to show how much money is being lost as casinos remain closed.

Gambling Revenue in Nevada Plummeted in March

Las Vegas has always been the gambling hub of the United States. Over the past few years, revenue in this city has been on a steady incline. Many felt the city was entering into a golden age and several major new venues are scheduled to open here over the next few years.

Due to the global pandemic, things have changed. Casinos are closed and tourism here is now almost non-existent. Many analysts predicted that gambling revenue in Nevada would end up being incredibly low during the month of March.

These predictions turned out to be correct. The Nevada Gaming Control Board has just revealed that the state’s gambling revenue fell by 39.6% last month. On the Las Vegas Strip, this revenue fell by an incredible 45.7%.

Casino table game revenue dropped the most at 59.5%. Slots also saw an incredibly steep drop off of 54.2%. The amount of money that sportsbooks made here dropped by 95.5%. Not even online sports betting was able to help make up for these losses.

This is the lowest amount of money that Las Vegas casinos have earned since February of 1998. Interestingly, February of 2020 was one of the best months in history.

Most analysts predict this downward trend will continue. This is almost guaranteed now that Governor Sisolak is expected to extend the stay-at-home order.

Nevada Governor Plans to Extend Current Measures

This hasn’t been an easy couple of months for Steve Sisolak. The Governor has been forced to shut down much of the state economy. The fact that many other state leaders are actively fighting against his measures doesn’t make things any easier.

Sisolak, like all other US Governors, is attempting to balance the economy and public safety. Many had wondered whether or not Sisolak would choose to extend his stay-at-home order and shutdown of non-essential businesses. We now have an answer.

The Governor spoke with ABC reporter Amy Robach about his plans for the future. Despite gambling revenue in Nevada dropping, Sisolak claims he plans to extend the current measures set in place.

“We’re calling it Nevada United Road Map to Recovery. We’re going to ease some of the restrictions that we had previously as it relates to retail curbside pickup. Some of our outdoor activities we’re going to loosen up what some of the restrictions are,” Sisolak said. Unfortunately we’re going to have to extend the stay at home order a little bit. We just have not reached exactly where we want to get in the downward trajectory.” 

This certainly won’t go over well with the Mayor of Las Vegas. She’s repeatedly called for restrictions to be lifted. Governor Sisolak is clearly not interested in hearing from the longtime mayor.

Gambling revenue in Nevada will be even worse in April. We’ll need to wait and see how long it takes for casinos in the state to get back to normal. Stay tuned for updates!

Here’s How Casinos Will Look After Restrictions Are Lifted

It’s been nearly two months since most casinos around the US began to close. Unfortunately, all of the country’s gambling venues remain shut down. This week, several experts began discussing how casinos will look after the current restrictions set in place are lifted.Slot Machines Inside Casino

Different states are beginning to open up. Unfortunately, it’s still unclear when land-based casinos will be able to open up again. Now is the perfect time to discuss what steps casino owners are likely to take once things begin getting back to normal.

US Casino Companies Continue to Lose Revenue

The past few weeks have been some of the hardest in the history of the US casino industry. Never before have all the country’s gambling venues been forced to shut down. To make things worse, no one can really say when these casinos will be able to open their doors again.

It’s no surprise that this is costing many companies a huge amount of money every single month. This is especially true for the ones operating large casino-resorts. Companies in Las Vegas, for example, are losing millions of dollars every day.

Even smaller casino markets are still hurting. Not long ago, a report surfaced that revealed how much money the casinos in Pennsylvania are losing. This report claims that revenue dropped from $304 million in February to just $154 million in March.

In April, the gambling revenue earned in this state was almost non-existent. All casinos remain closed here. Some fear that many of the casinos in Pennsylvania may be forced to shut down permanently.

Some parts of the country are beginning to lift their restrictions. Officials within the gambling industry are now shedding some light on how casinos will look once they open back up. Here’s what we can expect.

Experts Discuss How Casinos Will Look Once They Reopen

In early March, many different casinos around the country began shutting down. Since that time, infections have spiked in some areas and plateaued in others. Several states are now beginning to open back up.

The American Gaming Association has continued to ask when casinos will be able to open again. It’s a tough question, as casinos pose a serious risk for infection spread. Now, casino officials are talking about the steps they will take to protect their patrons.

Most agree that guests and employees will be required to wear masks. Many also feel that sanitizers will be placed around the casino floor. Jim Allen, president of the Hard Rock Hotel and Casino chain, spoke about this situation to the media this week.

“It’s important to focus on safety; it truly is,” Allen said. “But I sincerely feel there are those who do not have a clue as to the economic challenge this is creating. The ripple effect of the trillions of dollars in debt we’ve just put on the United States by printing money is something that we all need to be very focused on.”

There’s certainly some validity to this. The US casino industry employs a huge number of people. Closing the country’s casinos down has taken a serious toll on the economy.

No one really knows how casinos will look once they begin opening up. Most agree that they won’t be the same for quite some time. Recently, more and more individuals have begun calling for casinos in Las Vegas to open back up.

Las Vegas Casinos Begin Preparing to Open Up

At the start of this year, things were going incredibly well in Las Vegas. Tourism was increasing fast and gambling revenue was at an all-time high. As March approached, things began to change rapidly and now the city is essentially shut down.

For a city that relies on tourism, this has been devastating. As time goes on, more officials here have begun asking for things to reopen. Las Vegas Mayor Carolyn Goodman has called the Governor’s regulations “total insanity” and wants to see casinos operating again.

Governor Sisolak refuses to say when Las Vegas can return to normal. That isn’t stopping casinos from making preparations, though. Several of the biggest casinos in Las Vegas are beginning to announce the measures they’ll take after reopening.

This is shedding some light on how casinos will look in Las Vegas over the next few months. The Venetian, for example, has announced that it will utilize thermal cameras to scan for individuals with fevers. EMT’s will also be present to care for those suspected of having Covid-19.

If all goes according to plan, the Venetian will start accepting guests in June. This is an unprecedented time, though, and it’s very possible that this date will be pushed back.

Stay tuned for more Las Vegas casino news over the next few weeks!

Legal Sports Betting Could End Up Saving Colorado’s Casinos

Late last year, voters in Colorado approved a measure to allow online and in-person sports betting. Many analysts predicted this new industry would be hugely profitable for the state. Some now believe that legal sports betting may end up saving many of Colorado’s casinos currently shut down. Colorado Flag Picture

The first sports betting options will become available here in just a few days. Today, we’re going to discuss how this form of gambling will help casinos in Colorado.

Let’s get into it!

Sports Betting is About to Go Live in Colorado

Colorado is known for having a large and passionate sporting fan base. There are several major professional sports teams here including the Denver Broncos, Colorado Avalanche, and Colorado Rockies. For years, residents in this state have asked for lawmakers to legalize sports gambling.

Up until fairly recently, however, this wasn’t possible. A set of laws called PASPA were set in place for decades that prevented any states other than Nevada from offering sports gambling options. The Supreme Court decided to remove PASPA in May of 2018.

This immediately gave every state in the country the ability to legalize sports betting. Today, more than 20 states have approved legislation to regulate this industry. Colorado voters approved a sports betting bill in November of 2019.

Since that time, officials here have worked to come up with specific regulations for this form of gambling. Both land-based and online sports betting are set to become available. The first sports betting options are now set to launch in this state on May 1st.

Of course, land-based sports betting is off the table right now. All of Colorado’s casinos are currently closed down. Hope is that the online sports wagers placed here will help to provide gambling venues here with some much-needed revenue.

Here’s How Legal Sports Betting Can Help Colorado’s Casinos

As we’ve already mentioned, more than 20 states around the country have now legalized sports gambling. Most of these states are earning an incredible amount of revenue from this industry. Many analysts predict that the sports betting industry in Colorado will be hugely successful.

This may prove to be the only gambling revenue being made in this state for the foreseeable future. All of Colorado’s casinos are currently closed down. It’s still not entirely clear when these gambling venues will be allowed to open again.

It’s an extremely difficult situation for casino companies here. Some of these venues are losing millions of dollars every week. Several of these venues have stated they will not be able to survive much longer under the current restrictions.

This is also devastating to the workers employed in the gaming industry. David Farahi, COO of the Monarch Casino in Black Hawk, spoke about the impact of this shutdown to the media.

“Every casino in America is closed right now and it’s a very trying time,” he said. “Our industry being shut down not only greatly affects the 10,000 employees that are directly employed by the industry but it has ripple effects across all the beneficiaries of gaming tax dollars.” 

Sports betting may help things here. Several of Colorado’s casinos are set to launch their online sports betting platforms later this week. The revenue will be crucial to help these gambling venues survive during this time.

The truth is that no one knows when casinos here will be able to open their doors. In the meantime, these gambling venues will need to rely on their sports betting revenue.

US Casino Revenue Continues to Drop

Colorado isn’t the only state that has ordered casinos to shut down. The entire US casino industry is completely shut down and it’s costing many companies an incredible amount of money. Las Vegas, in particular, is taking a serious hit due to these regulations.

This city is known as the gambling hub of the United States. Many of the biggest and most profitable gambling venues in the world are located here. Due to the casino shutdown, tourism and gambling revenue has almost completely stopped here.

Some of the casino companies in Las Vegas are now looking at Macau for revenue. Unfortunately, revenue in this Chinese territory remains low, as well. Most experts agree that it will be a long time before Macau’s revenue gets back to normal.

Casino revenue is dropping around the country. Several states are beginning to open back up, yet casinos are likely to remain closed for some time. Online sports betting may end up being a hugely important revenue source for these gambling venues.

Colorado’s casinos remain closed to the public. It seems likely that this state begins easing its restrictions over the next few weeks. We’ll need to wait and see how the casino shutdown affects these gambling venues over time.

Stay tuned for more Colorado casino news!

US Casino Revenue Continues to Plummet

Prior to March of this year, the casino industry in the United States was surging. Most states were earning a huge amount of revenue from their gambling venues. That is no longer the case. According to new reports, US casino revenue continues to plummet.Revenue Drop Picture

Some states are being impacted more than others. New reports indicate casinos in Pennsylvania, New Jersey, and Delaware are all losing an incredible amount of money right now. Today, we’re going to look at exactly how much revenue has fallen in these states.

Let’s get into it!

Certain States Are Now Beginning to Open Up

Since March, states around the country began going into lockdown. Infection rates of the new coronavirus have risen in some areas and started to fall in others. Certain parts of the US are now experiencing relatively low rates of infection and are preparing to open back up.

This includes Georgia, which has already lifted most social distancing measures. Governor Brian Kemp has allowed businesses like restaurants to open, yet things are far from normal. Some health experts believe that opening back up to early will result in a major increase in cases in some states.

It’s a very difficult situation. State leaders are trying to weigh the pros and cons of allowing businesses to start operating again. One state that’s being hit particularly hard due to these new regulations in Nevada.

Cities like Las Vegas are nearly shut down right now. Tourism and gambling account for a huge percentage of the city’s revenue. No visitors are coming to Las Vegas right now and this revenue is simply not flowing in. Casino officials have now begun discussing plans to get things back to normal.

Las Vegas Mayor Carolyn Goodman is now calling for the city to open back up. Interestingly, several casinos here are preparing to open their doors in late May. We’ll need to wait and see how long it takes for revenue to start increasing here again.

New reports are revealing how the gambling industries in other states are doing right now.

US Casino Revenue is Dropping Quickly

We’ve been reporting on how much money certain casino companies are losing for weeks. Several of the top casino companies in the US have stated things need to change. New reports are now beginning to surface that show how much money has been lost in Pennsylvania, New Jersey, and Delaware.

These three states all have something in common. Online casino gambling has become legal and regulated here. Unfortunately, it does not appear these internet casinos are able to make up for the revenue being lost by the land-based casino shutdown.

Pennsylvania’s gambling revenue dropped from $304 million in February to just $154 million in March. New Jersey saw a decrease of $124 million last month. That’s an incredible $274 million lost between these two states in just one month.

It’s clear that online gambling is surging in these states. In fact, revenue from Pennsylvania’s online gambling platforms increased by 24%. Doug Harbach, a spokesman for the Pennsylvania Gaming Control Board, spoke about this situation to the media this week.

“We certainly have seen an uptick in online play, in particular table games, the biggest being poker,” he said. “It does not make up for the casino losses. It will not come close to satisfying the tax revenue we’ve been used to.”

What’s Happening in Atlantic City Right Now?

There’s been a lot of discussion about Las Vegas over the past few weeks. Many have talked about how this city will approach the new regulations around the country. Interestingly, Atlantic City hasn’t been a major talking point.

Based on the new US casino revenue reports, it’s clear that this city is hurting. All of the casinos are shut down here and it may be months before they’re allowed to open. Some have expressed fear that some of the gambling venues here will be forced to shut down permanently.

Gambling revenue dropped by 44% last month compared to the same month in 2018. Online gambling revenue increased by nearly ⅔ last month, though. Many casino companies here are likely to start investing more into their internet gambling marketing efforts.

Things are already beginning to change in Atlantic City. Last week, Caesars Entertainment announced it was selling Bally’s for $25 million. More property sales may start taking place here over the next few months.

US casino revenue is falling fast. Some states are now choosing to open up different businesses. Unfortunately, it may be a long time before any land-based casinos are able to open to the public again.

Stay tuned for more US casino news over the next few weeks!

The Merger Between Eldorado and Caesars is Still Taking Place

The merger between Eldorado and Caesars is the biggest in the history of US casino companies. Obviously, a deal of this magnitude takes months to complete. Fortunately, this company merge is still taking place, despite the intense regulations around the country.Two Hands Shaking

Hope is that this deal is able to take place before the end of the year. Today, we’re going to take a look at the details of this merger. We’ll also talk about some of the strategies these companies are taking to move their plans forward.

Let’s get into it!

Breaking Down the New Eldorado and Caesars Deal

Eldorado Resorts and Caesars Entertainment are two of the biggest casino companies in the world. Over the past decade, revenue at Caesars has slowed and company officials announced they were interested in making a change. This seemed to interest officials within Eldorado Resorts, who have been looking to expand.

In June of last year, news broke that Eldorado and Caesars had agreed to merge. Eldorado was paying an incredible $17 billion, making it the largest casino company sale in history. Under the terms of this agreement, Eldorado Resorts is taking control of all the Caesars properties.

These companies immediately began preparing for this merge. In July, Eldorado Resorts announced it was selling two of its major properties. This decision was made to help finance the larger acquisition of Caesars.

Over time, state gambling commissions began approving this new deal. In January, commissions in Louisiana, Pennsylvania, and Illinois all approved the merger between Eldorado and Caesars. The next month, New Jersey’s commission began taking a closer look at the details of this new deal.

Over the past six weeks, things have begun to change dramatically around the United States. The entire land-based casino industry in the country is shut down. Fortunately, the two companies involved in this massive merger are still taking steps to move the deal forward.

Here’s an Update on the Merger Between Eldorado and Caesars

Many states have now given the green light for this deal to go forward. Until it can be officially completed, though, several more government bodies need to give approval. Some felt this would be extremely difficult given the fact that the world is dealing with a global pandemic.

The current situation isn’t stopping company officials from scrapping their plans, though. This week, heads of Eldorado Resorts announced they were selling two major properties in order to help pay for the cost of the Caesars acquisition. The Eldorado Shreveport Resort in Louisiana and the MontBleu Resort Casino & Spa in Lake Tahoe are being sold to Twin River Worldwide Holdings for a combined $155 million.

Tom Reeg, CEO of Eldorado Resorts, commented on this deal to the media this week.

“The agreement to divest Shreveport and MontBleu to Twin River Worldwide Holdings is consistent with our continued focus on closing the Caesars transaction in the first half of 2020,” he said. 

Caesars announced that it was selling its Bally’s Atlantic City property for $25 million. It’s not a huge surprise to see casinos in Atlantic City being sold. The SEC has voiced its concerns that the merger between Eldorado and Caesars would result in a monopoly-like situation in this city.

The sale of this property should put that idea to rest. It’s clear that these companies are focused on gaining government approval as fast as possible. Many analysts predict more of these small property sales over the next few months.

Las Vegas Mayor Wants the City to Reopen

The land-based gambling industry has been one of the worst-affected by this pandemic. All of the casinos around the United States are completely shut down. Even the top government officials cannot say when these gambling venues will be able to open again.

This has obviously had a devastating impact on the city of Las Vegas. Tourism here has completely stopped. Many casinos here are now losing millions of dollars every single day and some claim they cannot survive much longer under the current situation.

Las Vegas Mayor Carolyn Goodman is now demanding a change. She’s actively calling for businesses in the city to open back up. This goes directly against what most health experts in the country are advising.

It’s an extremely difficult time for this city. Las Vegas relies heavily on its tourism and gambling industries. Without these industries operating, the city is facing an extremely difficult economic situation.

Governor Sisolak is refusing to open the state back up. He wants to ensure that infection rates are dropping before major venues are able to open. Only time will tell how long this process takes.

The merger between Eldorado and Caesars is still carrying on. It now seems possible that this deal is completed before the end of the year.