Is Now the Perfect Time to Make Las Vegas Travel Plans?

For the past two months, tourism into Las Vegas has been almost non-existent. As time goes on and casinos begin opening back up, many expect visitors to start flocking to this city. This week, several experts revealed that now might be the perfect time to make Las Vegas travel plans.Welcome Sign In Las Vegas

Prices in this city are expected to drop considerably. It may be the most affordable time to visit in recent memory. Today, we’re going to discuss what deals may become available over the next few months.

Let’s get into it!

Gambling Revenue in Las Vegas Continues to Fall

Just a few months ago, the idea of shutting down Las Vegas was incomprehensible. This city draws more than 40 million visitors every single year and generates an incredible amount of money for the state of Nevada. The gambling industry in Las Vegas alone employs hundreds of thousands of people.

In March, Governor Steve Sisolak announced that all non-essential businesses were being forced to close down. That includes casinos. It was an important decision, as rates of Covid-19 were beginning to appear in Clark County.

Closing down the casinos is having some major consequences, though. As we just mentioned, many people are directly employed by these casino companies. Nevada’s gambling industry is also responsible for drawing in tourism.

Revenue in Las Vegas has plummeted over the past two months. In March, revenue in the state fell by 39.6%. Things were even worse on the Las Vegas Strip, where revenue fell by an incredible 45.7%.

All experts feel that revenue in April will be considerably lower than it was in March. Casinos in the state were closed down for that entire month. Many state leaders recognize that things need to change if Las Vegas wants to survive as a city.

Fortunately, it appears that casinos may be preparing to reopen. Many now believe that this is the perfect time to start booking your travel to Sin City.

Experts Feel Now is the Time to Make Las Vegas Travel Plans

Things are still far from being normal in Las Vegas. Based on the way things are moving, though, it seems that many businesses will be allowed to open here in June. It’s for that reason that some are advising people to start booking their travel.

Earlier this week, Allegiant Airlines started offering up to 25% off their routes. Several of the top casino companies in the city also began offering major deals last month. Some experts believe more of these deals will start to emerge as summer draws closer.

Gabe Saglie spoke to the Las Vegas Review-Journal this week and claims Las Vegas will be very cheap to visit this summer.

“Post-COVID travel, I think, will be pretty inexpensive because of this desire to incentivize travelers to hit the road,” he said. “We’ll see some great rates at hotels; we’ll see airfare sales. You’re seeing an amazing amount of hotel prices well under $100 or $50 a night. The industry is just now starting to put ad dollars behind promoting this stuff. … I think you’ll see a more concentrated push (in the weeks to come), and those deals will become much more visible.”

That has to be exciting news for some people around the country. Not long ago, several analysts predicted that tourism would start to surge in this city once casinos reopen. That seems more likely if prices become more affordable.

Many feel that casinos are just a few weeks away from opening to the public. Here’s what we know about this situation.

Casinos in Las Vegas May Reopen in June

Just about everyone wants to see casinos reopened in Las Vegas. Most people also recognize that these venues are easy places for the coronavirus to spread. Officials around Nevada are doing everything they can to get casinos up and running in the safest way possible.

Not long ago, Nevada’s Gaming Commission approved a set of guidelines to safely reopen casinos. There are many measures being set in place to avoid major infection surges. That includes hand sanitizing stations on the casino floor, social distancing measures, and requiring face masks.

It’s beginning to look more likely that casinos will be allowed to reopen their doors in June. Several of the top casino operators in Las Vegas are preparing to open some of their casinos. MGM Resorts claims it will most likely open the New York-New York Hotel & Casino, and The Bellagio Casino-Resort first.

Of course, everything depends on Nevada’s fight against Covid-19. If a massive spike in cases is recorded here, things will be delayed. In the meantime, some of the country’s top travel experts are advising that people begin to make Las Vegas travel plans. Things may be cheaper now than ever before.

Next month will tell a lot about the future of this city. There’s a chance we’ll see tourism here start to boom again. This will be a welcome relief for many workers here.

Are you planning to make Las Vegas travel plans anytime soon? Let us know in the comments section below!

The Las Vegas Airport is Shutting Down Two Concourses

For weeks, Las Vegas has been essentially shut down due to the spread of Covid-19. All major casinos in the city are closed and tourism in this city is at an all-time low. This week, two different concourses at the Las Vegas airport were officially shut down.Famous Sign In Las Vegas

It’s been a tough time for Las Vegas and the country as a whole. Today, we’re going to discuss when casinos in this city may open up again. We’ll also look at how these new airport changes will affect the city in the long run.

Let’s get into it!

Governor Sisolak Extends Casino Shut Down in Nevada

Las Vegas is one of the most-visited cities in the United States. It draws in millions of people from all around the country every single year. The gambling industry here is one of the biggest in the world, and a huge number of massive casino-resorts are located in the city.

The gambling industry in Las Vegas helps to bring the state a huge amount of revenue. In many ways, the city relies on its casinos. Unfortunately, all gambling venues in Nevada have been officially ordered to shut down by Governor Sisolak.

In fact, all non-essential businesses in the state have been closed. This has already been devastating to the local economy. Many of the biggest casino companies are now losing millions of dollars every single day.

No one knew when these gambling venues would be able to open up again. The mayor of Las Vegas began pleading with the governor to loosen up regulations. Unfortunately, this is not happening anytime soon.

This week, Nevada announced a stay-at-home measure in effect until at least April 30th. Sisolak also activated the National Guard to help with supply delivery and distribution. This is not entirely unexpected, yet it’s disappointing for many of the gambling companies in the city.

Now, the city’s airport is being affected by these new regulations.

Two Concourses Close Inside Las Vegas Airport

Under normal circumstances, the Las Vegas airport is one of the busiest in the country. Due to the coronavirus, this airport is seeing very little travelers every month. As a result, officials at the airport have decided to close down all of the gates in two concourses.

The Department of Aviation has also decided to reduce the airport’s workforce. It’s unprecedented for the city and it’s unclear when things will return to normal.

“As passenger activity has declined, McCarran officials are continually evaluating the airport’s infrastructure and operations to identify ways to maximize efficiencies and implement cost-savings measures,” officials at the airport told the media. 

Concourse D and terminal three of the airport are remaining open. Travelers here will still be able to purchase tickets, check-in their bags and go through TSA security. Any flights previously scheduled to open in concourse E will now be moved to concourse D.

This goes to show how much of an impact the coronavirus is having on the city. Las Vegas has never experienced such a massive dip in tourism and gambling revenue. Hopefully, the city is able to get back on track before too long.

What to Expect Over the Next Month

With the new stay-at-home announcement, all casinos in Las Vegas will remain closed. This is very tough news for many of the major casino companies here, some of which are losing millions of dollars right now. The recently passed stimulus package should help some of these companies during the shutdown, though.

This offers some much-needed relief for these companies. According to revenue reports, some of them would not have been able to survive longer than a few months before going bankrupt. Now, they’re able to tap into a huge source of money from the federal government.

Many of these companies may soon begin relying on Macau for revenue, too. The Chinese territory opened up its casinos weeks ago and is slowly beginning to see more gamblers trickling in. Several major casino companies based in Las Vegas own casino-resorts in Macau.

Hopefully, these venues are able to make up for some of the losses in the United States. If another major Covid-19 breaks out in China, however, this plan will fall apart.

With the Las Vegas airport beginning to shut down, visitation to this city will remain very low. We’ll need to wait and see how long it takes for the city to get back to normalcy.

Stay tuned for updates on this situation over the next few weeks!

Officials Push to Demolish Former Trump Casino

Atlantic City now has one of the strongest gambling markets in the United States. Since 2018, revenue from this state’s gaming industry has increased. Recently, a push to demolish the former Trump casino was presented by city officials.

Trump Plaza Casino

This idea has been presented in the past. For reasons unknown, this venue is still standing. Today, we’re going to look at what city officials are pushing for. We’ll also talk about the effect that the coronavirus is having on New Jersey.

Let’s get into it!

Atlantic City is One Again a US Gambling Hub

For decades, Atlantic City was one of the world’s premier gambling destinations. It drew in people from all around the world. A huge number of world-class gambling venues operated here, many of which put on exciting shows every week.

Things began to change during the late 2010s. In 2008, the recession began to take hold and the US economy was beginning to suffer. Unsurprisingly, this led to a significant decrease in tourism to Atlantic City.

Many of the casinos here were forced to close their doors. Some never opened again. It wasn’t until about a decade later that things began to really turn around.

In May of 2018, the Supreme Court struck down PASPA, allowing every state to set its own laws on sports gambling. New Jersey quickly legalized this industry and before long, every casino in Atlantic City began offering sports betting options. Many believe this helped to bring new life to the city.

Revenue began pouring in. Tourism rates started to increase and now, Atlantic City is one of the most profitable gambling destinations in the country. Officials are now beginning to call for old casinos no longer operating to be torn down.

The Push to Demolish Former Trump Casino Continues

As most already know, Donald Trump operated a hospitality and gaming company prior to becoming president. This company, called Trump Entertainment Resorts, opened the Trump Plaza Hotel in May of 1984. It was located on the Boardwalk in Atlantic City and quickly became one of the most popular venues in the city.

Throughout the 90s, this venue began losing revenue. The hotel-casino eventually went into debt and by 2004, it was forced to permanently close down. Billionaire Carl Icahn eventually bought the land that the closed casino sits on yet nothing has taken place here.

It appears this is going to change soon. This week, city officials officially asked a judge to order that the former Trump casino be closed down. They argue this venue is now a safety hazard, as several pieces of the venue have recently broken off and fallen to the ground.

Interestingly, Carl Icahn is claiming he’s already decided to demolish the building. For that reason, the steps that city officials are taking are unnecessary. Hunter Gary, president of real estate for Icahn Enterprises, spoke about this to the media this week.

“We are puzzled by the city’s action,” he said. “In fact, we already decided to demolish the building, and have commenced the process, including finalizing contracts. If the mayor had simply called us instead of holding a press conference, we could have updated him as well.”

It seems that this famous hotel-casino will soon be torn down. We’ll need to wait and see if the judge decides to act before Icahn takes things into his own hands.

Is the Coronavirus Affecting Atlantic City?

As of March 12th, Covid-19 has now infected more than 1,500 individuals around the US and has killed thousands of people worldwide. Obviously, fear is growing that this will significantly affect the US economy. The stock market has already taken a major hit and many are curious how the country’s gambling industry will be impacted.

Things have been going very well in Atlantic City for the past few years. In fact, revenue has increased almost every single month! According to new figures, revenue here went up significantly in 2020 compared to 2019.

Many analysts don’t feel this will last in March. The US population is only now beginning to understand how serious of an issue this really is. As more people become infected, less will want to visit crowded areas such as casinos.

We won’t know exactly how this city is affected until early next month. By then, new revenue figures will become available. If things continue to get worse, perhaps it will be months before the former Trump casino is actually torn down.

This is an important time for gambling operators. Stay tuned for updates on the US casino industry over the next few months!

Plans for a Gambling Venue in Southeast MA Take a Step Forward

For now, only three casinos are operating in the state of Massachusetts. One is located in Everett, near Boston. The other is found in Springfield and another is located in Plainville. Recently, officials in a different part of the state began pushing for the right to open another casino. It may be some time before a gambling venue in Southeast MA is able to operate, though.Massachusetts State Symbol

This state’s gambling industry is in an unusual place. Today, we’re going to talk about how the current casinos here are performing. We’ll also look at the likelihood of this new casino opening in the future.

Let’s get into it!

The Casino Competition in Massachusetts Continues

Not long ago, Massachusetts had no gambling venues operating. Lawmakers here took steps to ban traditional casino gambling. Finally, in 2011, state officials passed a set of laws to allow three land-based casinos to start operating.

The first to open was the MGM Springfield, run by MGM Resorts International. At first, this venue was expected to be hugely successful. As time went on, this casino resort began to lose a significant amount of revenue.

Part of the reason for this revenue decline was the opening of the Encore Boston Harbor, owned by Wynn Resorts. This new casino captured a huge portion of the state’s gambling market, including many individuals who previously made bets inside the MGM Springfield. Since opening, this venue has earned more revenue than all of the other state’s gaming properties.

Things began improving for MGM Springfield in January. That month, this property saw its revenue increase by $2 million. The Plainridge Park Casino, MA’s third gaming venue, had a revenue increase of $1 million.

Not everyone is pleased with the way things are. Many individuals in parts of the state without a gambling venue feel the laws set in place are unfair. Here’s what’s happening with this situation.

New Push for a Gambling Venue in Southeast MA

As of now, only three casinos are legally able to operate in Massachusetts. Some state officials feel this is unfair. Back in October, a new bill was introduced to allow a new gambling venue in Southeast MA to begin operating.

The South Shore Chamber of Commerce Board of Directors recently endorsed this bill. Peter Forman, South Shore Chamber President and CEO, commented on these plans to the media this week.

“We find it troubling that Southeastern Massachusetts is almost effectively blocked under current law from even considering a gaming option,” he said. “Your legislation will enable an open and competitive process that will lead to the best possible solution for the region, one that compliments the tourism industry and the region’s economic strength.”

Promoting tourism in this area is one of the main reasons why people are pushing for a gambling venue in Southeast MA. Under the current bill, the state’s Gaming Commission could offer a slots-only license for this new property.

There are still many steps that need to be taken for this venue to be approved. Most analysts feel it will not begin operating for at least a year. It will be interesting to see how lawmakers feel about these new plans.

Coronavirus Already Affects Massachusetts Casinos

Back in December, a new coronavirus called Covid-19 emerged in Wuhan, China. Since that time, the virus has spread to countries all over the world and has affected more than 100,000 individuals. The death toll from Covid-19 is now nearing 4,000 individuals.

There are serious concerns that the virus will become uncontainable. As of now, efforts to prevent its spread have been largely ineffective. Unsurprisingly, many people are choosing not to travel due to fears of this virus.

It’s also taking a serious toll on the country’s gambling industry. People are less willing to gamble inside casinos, where a huge number of people are crammed into a small area. According to some reports, the casinos in Massachusetts are already experiencing revenue drops due to the coronavirus.

Interestingly, more people are now choosing to play casino games online. Sites like Bovada, which offer a huge number of different casino games online, are growing more popular every single month. This trend is likely to continue as the virus spreads.

We’ll need to wait and see whether or not the gambling venue in Southeast MA is approved. Stay tuned for updates over the next few months!

Sports Betting at Freehold Raceway is On Its Way

New Jersey legalized sports betting back in June of 2018, less than a month after the Supreme Court struck down PASPA. Since that time, the state’s sports betting industry has grown dramatically. This week, a measure to allow sports betting at Freehold Raceway was approved by a city council.New Jersey

It’s exciting news for visitors to this racetrack. It should help to bring in significantly more money to the state, too. Today, we’ll look at the state of NJ’s sports betting industry.

Let’s get into it!

New Jersey’s Sports Betting Industry Continues to Grow

Lawmakers in New Jersey were instrumental in getting the Supreme Court to remove PASPA. Many analysts felt that this state would quickly develop a large and successful sports gambling industry. These predictions have turned out to be correct.

Gambling revenue in this state has continued to increase since sports betting laws were approved. The majority of money is being earned in Atlantic City. Here, a huge number of major casino-resorts are operating.

Allowing sports betting helped to significantly improve Atlantic City. A massive influx of visitors began flocking here to make their wagers through land-based sportsbooks. As a result, casino revenue increased here, too.

This industry growth isn’t slowing down, either. Revenue continues to increase here. New reports indicate that January of 2020 saw a 23% revenue increase from the same month the year prior.

Now, sports betting at Freehold Raceway is being discussed. Owners of this track have spoken about plans to allow sports gambling for years. Now, these plans are finally being put in motion.

Sports Betting at Freehold Raceway May Come in 2020

It’s amazing to see land-based sports betting continue to generate revenue in New Jersey. Some felt this would eventually taper off, as online sports gambling is freely available throughout the state. This goes to show that many individuals still prefer to make their bets the only fashioned way.

Another venue is now preparing to allow this form of gambling. Officials at the Freehold Raceway received approval from the city council to offer sports betting at the track. Now, owners of the racetrack will need to request a sports betting license from the New Jersey Division of Gaming Enforcement.

Steve Gallo, a Freehold Borough Administrator, commented on these plans to the media this week.

“What we have is a very preliminary two-page document that states their plan is to do some renovations within the envelope of the existing structure,” he said. “They’re not adding anything new. It’s not going to trigger any major land use application or anything like that, and this is their first step towards getting a license from the DGE.”

That’s certainly true. This is just the first step needed to allow sports betting at Freehold Raceway. It may be some time before any sports gambling options actually open here.

The state’s other two race tracks currently allow sports betting. Since launching sportsbooks, the tracks have brought in a combined $250 million in sports gambling revenue. Freehold Raceway now wants a piece of that revenue pie.

Is The Coronavirus Having an Effect On Atlantic City?

Since December of 2019, the world has been working to contain the spread of Covid-19, a coronavirus originating in Wuhan China. Thus far, containment efforts have failed. The virus has now spread all over the world including the United States.

About 130 people have been infected across 16 states. Several deaths have now occurred in different states. Washington is the worst-affected state right now.

No cases have yet been confirmed in New Jersey. New York, on the other hand, is dealing with a rising infection rate. It seems like just a matter of time before NJ is hit.

This virus can take a significant toll on the casino industry. It essentially forced Macau to shut down for weeks. Some worry about the effects that the Coronavirus will have on Las Vegas.

For now, Atlantic City remains safe from the new virus. It remains to be seen how officials will tackle this issue. Closing casinos here may eventually be the only option.

Sports betting at Freehold Raceway is on its way. This is exciting news for those in the Freehold Borough area.

Stay tuned for more updates on this situation over the next few months!

Slots at Encore Boston Harbor Briefly Shut Down

Massachusetts is now home to a large and successful casino industry. One of the best is Encore Boston Harbor, owned and operated by Wynn Resorts. This week, the slots at Encore Boston Harbor were briefly shut down due to a computer issue.Encore Boston Harbor Hotel-Casino

It’s always scary when a casino suffers some type of issue with its computer system. Today, we’re going to look at what caused the slots to shut down. We’ll also look at how the Encore is performing against some of the other casinos in Massachusetts.

Let’s get into it!

History of Massachusetts’ Casino Industry

Just a decade ago, almost no legal gambling options were available in Massachusetts. Lawmakers in this state worked hard to actively ban most forms of wagering. In 2012, residents here decided to officially legalize land-based casinos.

Over the next few years, lawmakers here began coming up with specific regulations for this new industry. The state’s gambling commission was tasked with issuing gaming licenses. In 2018, MGM Resorts International opened the first casino here.

This venue, called MGM Springfield, was expected to be hugely successful. Unfortunately, this has not necessarily been the case. In 2019, Wynn Resorts opened Encore Boston Harbor in the city of Everett, near Boston.

Massachusetts’ casino market is still growing. As of now, only three gaming venues are operating in the state. It’s likely that more will begin opening here over the next couple of years.

Encore Boston Harbor is without a doubt the most popular casino in the state right now. Unfortunately, it suffered a computer issue this week that affected players.

Slots at Encore Boston Harbor Fail Due to Computer Issue

There are nearly 3,000 different slot machines inside Encore Boston Harbor. These games help to bring the casino millions of dollars in revenue every single month. An issue popped up this week, causing these machines to temporarily shut down.

According to Boston 25 News, a system outage this week caused the slots at Encore Boston Harbor to fail. This left hundreds of gamblers without money after depositing cash into the slot machines. Obviously, it caused an uproar inside the venue.

Officials within Encore Boston Harbor commented on the news to the media late Friday night.

“We experienced a brief system outage with our slot ticketing system in which we reverted to hand-paid jackpots. The issue has been resolved and we are paying all winners,” the statement said. 

Customers claim that the casinos began operating again at around 9:30 pm.

This is the last thing this casino needed right now. Recently, revenue at this gaming venue began to drop. Is this a sign that MGM Springfield is beginning to take over?

MA Casino Revenue Begins to Fluctuate

Not long after Encore Boston Harbor opened to the public, it became the most popular venue in the state. It captured a huge share of the state’s gambling market and earned significantly more revenue than any other casino.

In January, things took a slight turn. That month, it was the only casino in the state to experience a revenue drop. The Encore earned $6 million less than what it brought in the month before.

Interestingly, MGM Springfield’s revenue surged. Reports indicate that the Springfield casino earned $21 million in January, up $2 million from December. For many, it was surprising to see revenue here begin to increase.

MGM Springfield has been a major disappointment for MGM Resorts over the past couple of years. The casino has generated significantly less money than initially expected. MGM continues to invest money here, though, and it now appears that the company’s hard work is paying off.

The slots at Encore Boston Harbor are back up and running. Officials at Wynn Resorts will want to ensure this does not happen again.

Stay tuned for more Massachusetts casino news over the next few months!

Revenue at Encore Boston Drops, Rebounds in State’s Other 2 Casinos

Encore Boston Harbor Casino at SunsetEncore Boston Harbor, a Wynn Resorts property, are showing more drops in gambling revenue. According to a company official, the $2.6 billion property, which only opened up six months ago, has fallen short of revenue projections.

Wynn originally predicted that their Boston casino would earn $800 from gambling within its first year. According to state data, currently Encore Boston Harbor racks in an estimated $50 of gross revenue in gambling operations monthly.

According to the state’s Gaming Commission report on Tuesday, the Everett casino generated $6 million less in revenue in the span of one month, going from $54 million in December, to $49 million in January.

A spokeswoman for the casino says that officials will address the property’s revenue numbers during the company’s next quarterly earnings call.

Revenue is Up at 2 Other Massachusetts Casinos

Two other Massachusetts casinos are on the revenue rise though, MGM Springfield in Springfield and Plainridge Park in Plainville.

MGM Springfield’s gambling revenue increased by $2 million, going from $19 million in December, to $21 million in January. Plainridge Park’s revenue’s number went up a cool $1 million, going from $10 million in December, to $11 million in January.

Wynn’s Plan to Increase Numbers

Currently, Wynn Resorts has stated that they’re in the process of “rightsizing” their operation at the Boston branch.

The casino’s senior vice president of communications, Eric Kraus, told the state’s Gaming Commission that they’re looking into implementing automated drink dispensers. Other Massachusetts casinos have already began using these “robot bartenders.” Kraus believes the move would not only get gamblers their drinks in a timely fashion, but also eliminate an undetermined amount of back-of-house jobs that cut into operating costs.

The approval has been given to start rolling out these automatic drink-dispensing machines.

In an attempt to entice less affluent gamblers to their property in the numbers, the Encore property has lowered the minimum bets required for their table games. They’ve also offered free parking and introduced more budget-friendly food options, including a taco trucks that’s available on the casino floor.

An aerial gondola is also being considered. It would be used as a system that could conveniently transport and connect subway commuters directly with the casino.

About Encore Boston Harbor

The Encore Boston Harbor is one of three Encore properties, after Encore Las Vegas, which opened on December 2008, and Encore at Wynn Macau, which opened on April 2010. From their website:

The casino at Encore Boston Harbor brings glamour on a grand scale to the Mystic riverfront. Enter the main floor—open and airy, colorful and vibrant, with 40-foot ceilings, Red Rubino glass chandeliers, and a dazzling array of classic and state-of-the-art slot machines for every player, at every level. Move upstairs to our elegant terrace level for table games, poker tables, private gambling salons, high-limit gaming rooms, and a spectacular view of the action below. At every turn, welcoming dealers and hosts are dedicated to making your visit easy and enjoyable. It all adds up to an exciting, memorable five-star experience unlike anywhere else in Boston.

Revenue at MGM Springfield Jumped in January

Massachusetts’ casino industry continues to change. After months of disappointing results, it appears revenue at MGM Springfield is finally increasing. It’s fantastic news for the owners of this venue, who have invested millions of dollars to bring in more players.Revenue Increase Figure

Today, we’re going to discuss the history of the MGM Springfield Casino. We’ll also look at what this recent spike means for the property moving forward.

Let’s get into it!

MGM Springfield Has Been a Major Disappointment

Since 2011, Massachusetts has given three casinos permission to operate in the state. The first gambling venue to open here was MGM Springfield. MGM Resorts International built this property, which many believed would be extremely lucrative.

It was widely believed that Massachusetts would become one of the country’s next major gambling hubs. A huge number of individuals here make trips to Atlantic City in order to gamble inside casinos. With local casinos, this would no longer be necessary.

At first, MGM Springfield proved to be successful. As time went on, however, visitation here dropped. In June of 2019, Encore Boston Harbor opened up near Boston and captured a huge percentage of the state’s casino market.

Many gamblers who previously played inside MGM Springfield quickly made the switch to the Wynn Resorts-owned casino. As a result, revenue at MGM Springfield began to plummet. It seemed like just a matter of time before this casino was sold to the highest bidder.

That hasn’t been the case, though. Despite poor revenue figures, MGM Resorts continues to invest money here. Now, it appears that decision may be paying off.

Revenue at MGM Springfield Finally Increases

The fact that MGM Resorts continued to invest in their Massachusetts property was a little surprising. On the surface, it looked like this was a property that was bleeding money. Perhaps company officials saw something no else did.

Recent reports indicate that gambling revenue at this property officially increased in January. The casino’s gross gambling revenue was $20.6 million, compared to just $18.9 million in December. It’s not a massive increase, yet company officials have to be pleased.

Initial estimates predicted that revenue at MGM Springfield would be close to $34.8 million per month. Unfortunately, the most this property ever brought in during a single month was around $27 million. Overall, the casino brought in close to $252 million last year.

This wasn’t for a lack of trying, though. Back in early January, MGM Resorts decided to appoint a new president of this casino. Hope was that the change in leadership could help to turn things around. As of now, this strategy appears to be working.

MGM Springfield isn’t the only casino that experienced a revenue jump last month. Is this a sign that the state’s casino industry is in for a major change?

Plainridge Park Casino Revenue Jumps, Encore’s Drops

Right now, there are three different casinos operating in Massachusetts. As we mentioned earlier, the Encore Boston Harbor has proven to be the most successful of the three. That wasn’t the case in January, though.

Last month, the Plainridge Park Casino saw its gross gaming revenue increase by an astounding $876,913. This comes after seven straight months of revenue decreases. This venue managed to bring in around $11 million in January.

Encore Boston Harbor, however, saw its revenue drop. In January, this casino brought in $49 million. That’s down considerably from December’s $54 million. Wynn Resorts appears to be targeting more of a casual gambler demographic to help make up for these revenue drops.

The casino has also recently chosen to lower its minimum bet limit on several table games. Free parking is also beginning to be offered here. More strategies will be discussed during the company’s upcoming quarterly conference call.

Revenue at MGM Springfield officially jumped last month. Hopefully, this trend continues for the rest of the year.

Stay tuned for more Massachusetts casino news over the next few months!

Is This the Right Time to Buy LV Casino Stock?

For months, some of the biggest casino companies in Las Vegas have seen their share prices decline due to the coronavirus in China. All casinos have been forced to close down, costing many companies millions of dollars. Things seem to be improving now, and many are wondering if this is the right time to buy LV casino stock.Stock Prices Picture

It’s an interesting time for the global casino market. Things are going well in Las Vegas, yet Macau continues to lose revenue. Today, we’re going to talk about why many feel this is the perfect time to purchase stock in several Las Vegas casino companies.

Let’s get into it!

Macau Proves to be a Troublesome Casino Market

Most of the world’s top casino operators currently have operations in Macau. For many years, this small Chinese territory was the most profitable gambling market in the world. It drew in millions of gamblers from around the world every single year and was home to a number of multi-billion dollar gambling venues.

Last year, things began to slow down here. The US-Chinese trade war had a serious impact on this territory. As China’s economy slowed down, fewer tourists from mainland China began traveling and gambling in Macau. This resulted in fewer junkets operating here and as time went on, revenue in Macau began to plummet.

This didn’t deter Las Vegas casino companies, though. Many of them continued to invest in properties here. As revenue continued to drop, however, LV casino stock prices dropped.

In December, the Wuhan coronavirus began to spread throughout China. By February, this virus infected tens of thousands of people around the country. Not long ago, officials in Macau chose to close down all casinos as a way to deter tourism. This is costing several Las Vegas casino operators millions of dollars every day.

Fortunately, there seems to be a light at the end of the tunnel. The virus infection rate seems to be slowing down. This could be huge for casino operations in Macau.

Bank of America Recommends Buying LV Casino Stock

Macau has always been a hot casino market. Some of the world’s biggest high-rollers gamble here and many casino companies earn the majority of revenue in this small territory. As the coronavirus begins to be eradicated, this market will start to improve.

This week, Bank of America began recommending to buy LV casino stock. The major US banking company believes that as the virus begins to level out, revenue in Macau will start to surge. As a result, Las Vegas casino companies with property here will see their share prices increase.

Shaun Kelley, a research analyst at Bank of America, commented on the potential share price increase to CNBC this week.

“2nd derivative [is] leveling out,”, he said. “The sequential and daily growth rates have been stable/declining for approximately a week. “Stock and investor reaction has been surprisingly muted relative to prior Macau corrections which we think owes to the passing nature of the threat and increasing China/global market liquidity.” 

This certainly makes sense. Due to Macau’s new regulations, several major Las Vegas casino companies have seen their share prices drop dramatically.

There might be a real opportunity to make some money. If China’s economy begins to improve again and Macau stops its hardcore casino regulations, revenue will start to surge.

Las Vegas Casino Market Continues to Improve

Las Vegas’ gambling revenue is always fluctuating. For more than a year, however, things have been steadily improving in this city. Casinos are continuing to rack in money and are showing no signs of slowing down.

Even sports betting revenue is increasing here. This is a surprise for some. More states around the country are beginning to legalize this form of gambling.

In fact, more than 20 states have officially legalized sports betting. It seemed that this would decrease the sports gambling revenue in Las Vegas. This is not the case.

Everything is running smoothly here. Casinos here took in an average of $1 billion per month last year. Sports betting revenue increased by 9.5% overall.

Amazingly, LV casino stock has been dropping lately due to the trouble in Macau. Hopefully, this will begin to improve.

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

Las Vegas Casino Companies Are Affected by Coronavirus

The Wuhan Coronavirus first appeared in early December and has now spread to at least 20,000 individuals. It’s one of the world’s scariest virus outbreaks in recent memory and is showing no signs of slowing down. New reports indicate several Las Vegas casino companies are losing revenue due to the impact of this coronavirus.Casinos In Macau

For now, the vast majority of infected individuals are in China. Unfortunately, this is taking a serious toll on Macau, one of the world’s biggest gambling hubs. Today, we’re going to look at how this virus has spread so quickly, and discuss the impact that it’s having on the world’s gambling industry.

Wuhan Coronavirus Continues to Spread Around the World

Over the past few decades, China has been the center of several new virus outbreaks. In the early 2000s, this country experienced an outbreak of severe acute respiratory syndrome, or SARS. This was a coronavirus that caused chronic viral respiratory disease. It spread quickly and ultimately killed 774 individuals.

In December of 2019, the Chinese city of Wuhan began experiencing an outbreak of a new type of Coronavirus called 2019-nCoV. Researchers have traced the origins of the virus to a seafood market that allowed the sale of wild animals. Over the past two months, this virus has spread at an incredible rate with more than 20,000 now confirmed to be infected.

Nearly all of the confirmed cases have been in China. All but one death has also been confined to this country. Officials are doing everything they can to contain the virus and prevent it from spreading to other nearby countries.

One city that’s being heavily affected is Macau. This is one of the most-visited cities by Chinese tourists. Government officials here have looked at ways to ensure the outbreak does not reach Macau’s population.

Tourism in this city has dropped dramatically. Obviously, many of the casino operators here are losing revenue. This includes some of the biggest Las Vegas casino companies.

Las Vegas Casino Companies Struggle With New Macau Regulations

Macau is one of the world’s biggest gambling hubs. There are a huge number of major casinos here, some of which are operated by Las Vegas-based companies. Las Vegas Sands, MGM Resorts International, and Wynn Resorts all own property in this Chinese territory.

Unfortunately, most of these companies have been losing money here. Not all of the blame can be placed on the coronavirus, though. The US-Chinese trade war had led to a major decline in tourism here. The Wuhan Coronavirus is just making things worse.

2019-nCoV is scary for several reasons. Officials are struggling to contain the virus and its now infected individuals in every single Chinese province. Leaders in Macau have recently decided to shut down casinos as a way to prevent tourism in the city.

Some of the biggest Las Vegas casino companies are taking a major financial hit from this decision. The three companies we listed above state they will comply with the new regulations. Pansy Ho, one of the most powerful individuals in Macau, commented on the casino closure to the media this week.

“It was a hard decision, but we must make it for the health of Macao residents,” she said to the media. “Macao can still withstand economic losses.”

It’s unclear at this point how much revenue these companies have lost in Macau. Unless the situation improves and the government begins to cut down on the infection rate, these losses will continue.

Gambling Revenue in Las Vegas is Likely to Increase

The gambling industry in Macau is hurting right now. Over in Las Vegas, however, things are running smoothly. This city’s gambling revenue increased significantly in 2019 and most analysts believe the trend will continue this year.

Some were surprised to see the revenue increase in 2019. A huge number of states have recently legalized sports betting and expanded their casino gambling options. There was a thought that this would take away from Las Vegas’ tourism. For now, this doesn’t appear to be the case.

In fact, things are likely to get even better this year. Several major casino-resorts are set to open in Las Vegas in 2020. This includes Resorts World Las Vegas, the most expensive hotel-casino ever constructed in the city.

Downtown Las Vegas is improving rapidly, as well. Derek and Greg Stevens are opening Circa Las Vegas before the end of the year. This new casino-resort will be one of the most impressive venues in the Downtown area.

Las Vegas casino companies continue to bleed money in Macau. Fortunately, things are going well in the US. Make sure to stay tuned for more updates on this situation over the next few months!