LVS Continues to Push for Legal Casinos in Texas

Texas State Flag

Texas is known for its hardline stance towards the gambling industry. Lawmakers here have worked hard to ban virtually all traditional forms of gambling in the state. That could soon change, though. Las Vegas Sands is working hard to finally allow legal casinos in Texas.

Many are excited to see Texas make this change. There are still a huge number of questions that surround this entire situation, though. Today, we’ll talk about what LVS has planned in the Lone Star State.

Here’s what we know about this situation!

The Past Ten Months Have Been Tough for Las Vegas Sands

Most gambling fans have heard of Las Vegas Sands before. This company was founded decades ago by Sheldon Adelson. It has since grown into one of the most powerful gambling companies in the world.

Prior to 2020, this company was doing fantastic. LVS owns and operates casinos around the world. It’s major casino-resorts in Las Vegas and Macau were bringing in an incredible amount of money every single month. Then, in March of last year, all of the casinos around the US were ordered to shut down.

Places like Las Vegas saw their revenue figures immediately plummet. Casinos here remained closed for months and no one could accurately say when things would turn around. Finally, in June, the casinos in Las Vegas began to open back up.

Unfortunately, casino revenue from Las Vegas and Macau has been extremely low over the past twelve months. As a result, Las Vegas Sands began closing their biggest venues for certain times of the week. Company officials even claim they are interested in selling some of their biggest casino-resorts entirely.

To make things worse, CEO Sheldon Adelson passed away earlier this year. It was a huge blow for Las Vegas Sands and only intensified what has already been a difficult time. LVS is still pushing hard for recovery and has some big plans for the future.

That includes a break into Texas. This state is known for its tough gambling laws, yet LVS seems to feel it can make a change here.

Will We See Legal Casinos in Texas in the Next Few Years?

Despite the complications they’ve faced, US casino companies continue looking to expand. We’ve seen a large number of major casino deals take place over the past few months. Many of these companies are working hard to break into developing casino destinations.

That is certainly the case with Las Vegas Sands. This company has been doing everything it can to increase revenue right now. Lately, officials within LVS have been pushing hard to allow commercial casinos in the state of Texas.

Lawmakers in Texas haven’t embraced this idea. Here, not even tribal casinos are able to legally operate. Residents in this state often flock to nearby Oklahoma to play at the state’s many world-class casinos.

Las Vegas Sands is now arguing that legalizing casinos will help to keep money in the state of Texas. It should also help to bring in more visitors from around the country. Governor Greg Abboud now claims it should be up to state voters on whether or not to allow casinos.

“All that will happen in the Legislature this next session is for the state Legislature to put it on the ballot and to let voters decide,” Abboud said. “And then business leaders and community groups and the policymakers need to get involved in the process and make sure that this is done the right way.”

Anti-gambling groups are already pushing against the idea of legal casinos in Texas. There are some that feel it will result in an increase in crime and other societal issues. The state needs money right now, however, and casinos could be an effective way to generate revenue.

It’s an interesting time for the country’s gambling industry. We’ll offer more information on this situation over the next few months!

US Casino Revenue is Still Dropping Quickly

The events in 2020 had a devastating impact on the US casino industry. Never before have casinos around the country been forced to close down. Even today, this industry has a long way to go before it gets back to the revenue seen in 2019.

There was a time when it seemed as if US casino companies were bouncing back in a big way. Travel restrictions began to loosen during the summer months and more visitors started heading to casino hubs such as Las Vegas. As the colder winter months approached, however, this trend came to a complete halt.

We’re still beginning to see the effects that 2020’s fourth quarter had on casino companies. Over October, November, and December, Las Vegas Sands saw an incredible 67% drop in revenue. It’s a larger dip than many analysts predicted.

This company managed to bring in just $1.15 billion over Q4 of 2020. That’s down considerably from the $3.51 billion seen in 2019. It goes to show how difficult the times are even for the largest gaming operators in the country.

Other casino companies including Wynn Resorts and MGM Resorts are also seeing massive revenue drops. It’s unclear when exactly this trend will change. Perhaps Texas could help to turn things around for these companies. We’ll be sure to offer updates over the next couple of months.

Do you think we’ll see legal casinos in Texas anytime soon? Let us know in the comments section below.

Sheldon Adelson’s Death Hits the Struggling Casino Industry Hard

Sheldon Adelson

Casino companies around the United States are still struggling to bring in players right now. It’s been a dark time for many of these companies with no clear end in sight. One of the men responsible for helping this industry growth has just passed away. Today, we’re going to discuss the details of Sheldon Adelson’s death.

Many knew that the Las Vegas Sands CEO was in poor health. It wasn’t entirely clear how serious his situation was, though. His death will have a lasting impact on LVS over the next few decades.

Here’s what we know about this situation.

Looking Back at Sheldon’s Adelson’s History in the Casino Business

The US casino industry has grown considerably over the past few decades. Many credit Sheldon Adelson for being one of the key figures in growing casinos around the country. His time in the gambling industry dates back to the 1980s.

First, Sheldon purchased the Sands Hotel and Casino in Las Vegas for a mere $110 million. He then took his experience in the convention industry and purchased the Sands Expo and Convention Center. This was the only privately-owned convention center in the country.

Just a few years later, Adelson decided to open his first mega-resort with The Venetian on the Las Vegas Strip. Over the next few decades, he continued to open massive casino-resorts around the world. He eventually grew his fortune to more than $35 billion.

Adelson has served as the CEO of Las Vegas Sands for decades. His decisions helped the company grow bigger than anyone expected. Last week, news broke that he was stepping down as CEO of the company to focus on cancer treatment.

It was surprising news to hear. No one seemed to know how serious Adelson’s health issues truly were. It was confirmed he was suffering from Non-Hodgkin’s Lymphoma. It now seems that his case was more severe than many initially thought.

Adelson was a major player in the casino industry. He certainly had some detractors, yet there’s no doubt he played a huge role in helping the country’s casino industry grow.

Sheldon Adelson’s Death Has Been Confirmed

Hearing that Sheldon Adelson was stepping down as CEO of Las Vegas Sands spread fast. There were obvious concerns for the gaming mogul. As we just mentioned, however, no one really knew how serious his condition was.

It’s now clear that Adelson was struggling immensely. Numerous reports have confirmed that he has passed away at the age of 87. It’s also been confirmed that his death came from his battle with Non-Hodgkin’s Lymphoma.

The casino mogul was well-known for his major donations to the Republican Party. He spent millions helping with Donald Trump’s campaign in 2016. Trump released a statement offering condolences to the LVS CEO shortly after his death was announced.

“His ingenuity, genius, and creativity earned him immense wealth, but his character and philanthropic generosity his great name,” the statement said. “Sheldon was true to his family, his country, and all those that knew him. The world has lost a great man. He will be missed.”

Sheldon Adelson’s death is sending shockwaves through the casino industry. It comes at an extremely difficult time for Las Vegas Sands. The company will now move forward with Robert Goldstein serving as CEO.

Las Vegas Sands, like all other US casino companies, has a difficult year ahead. There are many now wondering what steps the company will take to increase revenue.

What is Next for Las Vegas Sands?

The past ten months have been extremely difficult for Las Vegas Sands. 2020 wasn’t the only tough year for this company, though. Over the past two decades, LVS has gone through several rough patches. In 2009, Sheldon Adelson saw his net worth drop to just $2 billion due to the company’s struggles.

This is now a different situation than LVS has ever faced before. Sheldon was well-known for being the primary decision-maker in the company. There will likely be a feeling out process while the company adjusts to his permanent departure.

Sheldon Adelson’s death also means that Las Vegas Sands will need to make a decision on the proposed casino sales brought up last year. This company made headlines by announcing it was interested in selling both The Venetian and The Palazzo. These two venues have been major revenue-earners for LVS in the past.

The situation in Macau is also a serious talking point. Las Vegas Sands owns and operates several casino-resorts in the Chinese territory. Unfortunately, Macau has seen extremely low tourism figures and revenue has plummeted. It wouldn’t be a shock to see some of the casinos here sold soon, too.

All major US casino companies are struggling right now. Hopefully, effective vaccine distribution helps casino destinations recover as the year goes on. We’ll continue offering more updates on the situation with Las Vegas Sands over the next few months.

Are you surprised to hear about Sheldon Adelson’s death? How do you think this will impact Las Vegas Sands? Let us know in the comments section below!

Las Vegas Sands to Throw Hat in SportsBetting Arena

Las Vegas Sands Casinos

Las Vegas Sands is making a push into sports betting. A report from Bloomberg last week said that its acting chief executive officer Robert Goldstein is in the early stages of private talks with potential partners in the sports betting industry.

The company has long operated a retail sportsbook at its Venetian and Palazzo casinos in Las Vegas. However, these were outsourced to Cantor Gaming which is now a part of William Hill US, which in turn was acquired by Sands’ rival Caesars Entertainment Inc.

One of the strongest Balance Sheets

Often praised by industry analysts as having one of the strongest balance sheets among peer casino operators, Las Vegas Sands has enough resources to become a big player in the sports betting industry. It has a market capitalization of $44.42B and if Adelson’s proposal to sell the Venetian, Palazzo, and Sands Convention Center in the Las Vegas Strip, that would potentially be another $6B of assets.

Las Vegas Sands is the biggest casino company in the world. However, it is the only United States-based casino operator which has not yet adopted a sports betting plan despite the U.S. sports betting market expanding rapidly since the U.S. Supreme Court repealed the Professional and Amateur Sports Protection Act of 1992 over two years ago.

Adelson’s Opposition to Online Gaming

Venturing into sports betting may mean embracing online gaming which has often come along with it. It can be recalled that Las Vegas Sands founder and longtime CEO Sheldon Adelson, who recently took a medical leave of absence, was always opposed to online gaming. The billionaire has always been among those who lobbied to prevent the legalization of online betting based on moral ground. Adelsen believed that online games like virtual slots made it very easy for players to lose money.

But like all the other casino operators, Las Vegas Sands is struggling to cope with the limitations brought about by the ongoing COVID-19 pandemic which has substantially affected the casino industry since March 2020. Even Sands’ properties outside the U.S. like Macau and Singapore are struggling with their bottom line figures. With no end to the pandemic yet in sight, online gaming has been viewed as one of the best ways for land-based casinos to diversify operations and generate more income.

Sheldon Adelson’s Health Forces Leave of Absence From LVS

Sheldon Adelson

Las Vegas Sands has been dealing with a variety of serious issues over the past year. To make things worse, the company’s founder and CEO is now in poor health. New reports indicate that Sheldon Adelson’s health problems have forced him to take a leave of absence from Las Vegas Sands.

There’s a lot happening with major Las Vegas casino companies right now. Today, we’ll talk about Adelson’s departure from LVS. We’ll also discuss some of the other plans that Las Vegas Sands has for the future.

Let’s get into it!

Las Vegas Sands Continues to Hint at Major Casino Sales

The city of Las Vegas is still struggling to bring in tourists. As a result, the casino companies here are seeing significantly lower revenue figures than they did in 2019. It’s a difficult situation that some feel will take years to fix.

Casino companies around the country have seen major drops in their monthly revenue figures. That includes Las Vegas Sands. As a result of these revenue drops, company officials have hinted towards selling some of their biggest venues in Las Vegas. That includes The Venetian and The Palazzo.

This announcement was surprising to hear. These two casino-resorts are some of the biggest and best in Las Vegas. Prior to 2020, these venues helped to bring Las Vegas Sands a huge amount of revenue every month.

It now seems this company no longer sees these venues as viable properties. There have been several other casino operators that expressed interest in taking control of these venues. As of now, Hard Rock International seems to be the most likely candidate.

Las Vegas Sands is clearly in a difficult situation. Unfortunately, CEO Sheldon Adelson is also dealing with serious health issues. These are now serious enough to force him out of his position as the leader of this company.

Adelson has been one of the most powerful men in the casino industry for years. We’re now beginning to hear more about the health problems that forced him away from the company.

Here’s What We Know About Sheldon Adelson’s Health Issues

Sheldon Adelson has been in the casino industry for decades. In recent years, reports began to circulate that he was dealing with serious health complications. He’s now 87 years old and some have questioned how long he would remain the leader of Las Vegas Sands.

This week, reports came out that shed more light on Sheldon Adelson’s health issues. It’s been confirmed that the CEO is now taking a leave of absence to undergo treatment for cancer. He “recently decided” to resume treatment for non-Hodgkin’s lymphoma.

Many knew that Sheldon was dealing with cancer. It wasn’t entirely clear how severe his case was, though. It’s now clear that things are serious enough to remove him from his position as the CEO of Las Vegas Sands.

Robert Goldstein will now take over as CEO of the company. He takes this position in one of the most difficult times in the company’s history. He and other officials will now need to further discuss the possibility of selling major Las Vegas properties.

Adelson is still optimistic about the future. Despite the difficulties, he feels that Las Vegas Sands will recover from the situation it finds itself in.

“Our properties in Las Vegas may be empty right now, but our hearts are full of hope for the future,” he said in a public statement late last year. 

Hope is that Adelson recovers soon. He played a big part in expanding the Las Vegas casino industry. We’ll continue offering updates on this situation over the next couple of months.

How Are Other Casino Companies Faring Right Now?

Las Vegas Sands is far from being the only company seeing its revenue figures drop. As we mentioned earlier, this is an issue that is affecting just about every major casino operator around the United States. Most analysts agree this is the hardest time in the history of the US casino industry.

Wynn Resorts has been seeing big dips in its revenue lately. Las Vegas isn’t entirely to blame for these issues. Wynn Resorts’ casinos in Massachusetts and Macau have also been losing money for the past ten months.

The Encore Boston Harbor was hugely successful in Massachusetts not long after opening. Beginning in March, however, this casino began to see massive revenue declines. There is now a fear that all of the casinos in Massachusetts could close down again in the near future.

MGM Resorts has also been experiencing huge drops in revenue. All of the company’s casinos in Las Vegas have been suffering lately. MGM Springfield in Massachusetts is hurting, too. This company recently had its worst-ever month since opening to the public.

The country’s land-based casino industry is hurting right now. Sheldon Adelson’s health issues are likely to take a toll on Las Vegas Sands. Hopefully, we begin to see things improve over the next couple of months.

Are you surprised to hear about Sheldon Adelson? How do you think this will impact Las Vegas Sands? Let us know in the comments section below!

More Information on the Live! Casino in Philadelphia is Coming Out

Pennsylvania Casinos

Pennsylvania is home to one of the largest, most successful casino industries in the country. There is one massive new casino-resort now scheduled to open its doors in Pennsylvania. This week, we received more information about Live! Casino in Philadelphia.

This is set to be one of the biggest casino-resorts ever opened in Pennsylvania. Many feel it will help to significantly boost tourism into the state. Now is a great time to discuss the details of this exciting new gaming property.

Let’s get into it!

Pennsylvania’s Casino Industry Has Finally Reopened

The casino industry in Pennsylvania was completely shut down back in March. This proved to be extremely difficult for the casino companies based here. Finally, after several months, state leaders gave permission for these casinos to open back up.

For a time, things were improving here. Casinos were operating at limited capacity and began seeing their revenue earnings increase. It wasn’t perfect, yet the casinos in Pennsylvania seemed to be staying afloat.

This only lasted for so long. In December, news broke that state officials were ordering all casinos to temporarily shut down once again. It was a huge blow for the owners of these venues and the thousands of workers inside them.

On Monday, Pennsylvania’s casino industry was finally given permission to reopen. Moving forward, these properties will operate at a limited capacity and will need to implement more intense health regulations. Hope is that enough money is made to keep these casinos operational.

The casino industry is hurting around the United States. No one seems to know when things will begin to truly improve. Interestingly, there are still several new casino-resorts scheduled to open their doors in Pennsylvania in the near future.

That includes Live! Casino and Hotel. We’re now beginning to hear more information about this exciting new gambling venue.

The Opening Date for Live! Casino in Philadelphia Has Been Revealed

As we mentioned earlier, Pennsylvania is home to a large and rapidly-expanding casino industry. We’ve seen several casinos open their doors here over the past few years. More will begin operating here in the future!

The Live! Casino in Philadelphia is one of the most-anticipated casinos ever opened in Pennsylvania. We’re now hearing about when this property will finally open! New reports claim that this venue is set to first open its doors to guests on January 19. That will come before an official grand opening on February 11.

Joe Billhimer, Executive Vice President of Cordish Gaming Group, gave a statement to the media about this casino finally opening.

“We are beyond excited to go Live! in Philadelphia and bring this world-class gaming and entertainment destination to the heart of the Stadium District,” Billhimer said. “What we have created here is unrivaled anywhere in the country. Sports fans, foodies, gaming enthusiasts, and anyone looking for a night of fun and excitement only has to make one stop to experience it all.”

Just about everyone is excited to see this casino open its doors. It will feature more than 2,000 slot games, 150 table games, and a 29-table poker room. The casino will also be home to a variety of dining and entertainment options.

If you’re located near the Philadelphia area, make sure to check this casino out! Many believe it’s the best new gaming property in the state.

Major Las Vegas Property Sales Are on the Horizon

Las Vegas remains the world’s biggest casino destination. There are a huge number of world-class gambling venues located in this city. Unfortunately, the casino industry here has seen massive dips in revenue throughout the year.

As a result, several casino companies have announced they plan to sell some of their casinos in the city. That includes Las Vegas Sands. The Sheldon Adelson-run gambling venue claims it’s interested in putting both The Venetian and The Palazzo up for sale.

Many were surprised at this news. These venues are known for being two of the most popular ones in Las Vegas. Under normal circumstances, these venues help to bring LVS a massive amount of revenue every month.

We’re in unprecedented times, though. It seems that Las Vegas Sands simply wants to cut its losses and get rid of some of its biggest gambling venues. It’s unclear exactly how much LVS plans to sell these casino-resorts for.

It seems that Hard Rock International is interested in purchasing this property. Nothing has been made official, though. We’ll be sure to offer more information on these sales over the next few months.

Are you excited to see Live! Casino in Philadelphia finally open? Let us know in the comments section below!

Sheldon Adelson Wants to Bring Casinos to Texas in the Future

Sheldon Adelson

Texas is well-known for having some of the strictest gambling laws in the country. Very few forms of gambling are currently allowed here. Sheldon Adelson wants that to change. New reports claim the Las Vegas casino mogul is pushing hard to bring casinos to Texas in the future.

It’s great news for gambling fans in the Lone Star State. For years, Texans have been forced to visit neighboring states in order to play inside a casino. Now is the perfect time to talk about how Adelson could change this.

Let’s get into it!

Las Vegas Sands Mulls Major Casino Sales

Casino companies across the United States have seen massive revenue plummets throughout the year. That includes the biggest ones based in Las Vegas. Things have gotten progressively worse as the colder months began to approach.

Tourism into Las Vegas remains extremely low right now. As a result, many of the casinos in this city have been forced to temporarily shut down during certain days of the week. That includes The Palazzo, one of Las Vegas’ most popular venues.

The Palazzo is operated by Las Vegas Sands. The Sheldon Adelson-run company has been seeing particularly large drops in revenue from its venues in Las Vegas and Macau. Company officials have now been forced to consider drastic measures.

News recently surfaced that officials within LVS were considering selling several of their US casino-resorts. This is seen as an effective way to generate some much-needed revenue. Several analysts predicted that many companies would be interested in taking control of the sold venues.

Nothing has been made official yet. For now, Las Vegas Sands remains focused on cutting down on costs in other ways. We’ll need to wait and see if a major Las Vegas property sale is necessary sometime in early 2021.

Sheldon Adelson still has big plans for the future. News is coming out that he wants to bring major casinos to the state of Texas.

Looking at Sheldon Adelson’s Plans to Bring Casinos to Texas

Texas is one of the few states with laws that completely ban land-based casinos. It’s unusual, as most believe this could help to bring the state a massive amount of revenue every single month. Lawmakers, unfortunately, have been very reluctant to embrace the gambling industry in any way.

Las Vegas Sands CEO Sheldon Adelson wants to see this change. Reports claim that he has some major lobbying efforts planned for 2021. If he has his way, Texas will soon begin allowing major casino-resorts like the ones seen on the Las Vegas Strip.

Andy Abboud, Las Vegas Sands’ top lobbyist, claims Texas is one of the company’s primary focuses right now for expansion.

“We view Texas as a worldwide destination and one of the top potential markets in the entire world,” Abboud said. “Texas is considered the biggest plum still waiting to be out there in the history of hospitality and gaming. They [casinos] are job creators, they hire a lot of additional employees, they have tremendous purchasing power. But they are also tremendous generators of tax revenue.”

It’s hard to argue against that. Many states have recently chosen to allow land-based casino gambling. Most of these states have seen large increases in tax revenue as a result. Texas would be no different.

For now, most gambling fans make the trip to Oklahoma in order to play inside casinos. If Sheldon Adelson manages to bring casinos to Texas in the future, he could help to keep money in the state. We’ll continue offering updates on this situation over the next few months!

Online Casino Gambling Options Available in Texas Right Now

It’s been frustrating for many residents in Texas to see land-based casino legalization efforts fail. The state has a largely anti-gambling stance and it will take some major lobbying efforts to change this. That doesn’t mean it’s impossible to play casino games here, though.

Today, there are a huge number of fantastic online casinos in Texas. Most of these sites are safe and offer a massive range of games to their members. The popularity of these websites has exploded in recent months.

Bovada is one of the most-used casino websites in TX right now. It launched in 2011 and has grown to become one of the most trusted gaming platforms in the country. Bovada provides its members with slots, table games, and even live dealer games that make it feel as if you are playing inside of an actual casino!

Soon, Texas may choose to regulate and tax these websites. That is not the case right now, though. All of the internet casino gaming platforms in the state are based in other countries and do not offer the state any tax revenue.

Sheldon Adelson wants to take things even further. He’s hoping to get casinos in Texas in the future. Adelson is one of the most powerful figures in the gambling industry and has a real shot at finally getting Texas to change its ways.

Do you think Texas will eventually begin allowing online casinos? When do you expect this to happen? Let us know in the comments section below!

The Palazzo Las Vegas Has Stopped Accepting Reservations

The Palazzo Las Vegas

Hotel-casino companies in Las Vegas continue to see huge dips in their visitor numbers this fall. It’s a difficult situation and has caused many of these companies to adjust their operating hours. New reports claim The Palazzo Las Vegas is now choosing to temporarily stop accepting reservations.

This goes to show how much Las Vegas is struggling right now. Today, we’ll talk about how this new rule will affect The Palazzo. We’ll also discuss what is happening with this venue’s owner company, Las Vegas Sands.

Let’s get into it!

Las Vegas Sands Considers Nevada Property Sales

Nevada is home to most of the biggest gaming operators in the United States. Prior to 2020, the majority of these companies were thriving. We saw gaming revenue increase around the country and several massive new casino-resorts were being constructed in different states.

The land-based casino industry is now facing its toughest test in history. Most casinos are still seeing major drops in their revenue and visitation rates. Some states have even ordered their commercial casinos to shut down once again due to health concerns.

Las Vegas Sands is being hit particularly hard. Earlier this year, news broke that company officials were considering selling some of their biggest properties in Nevada. It was extremely surprising to hear from one of the country’s most powerful gaming companies.

As many know, Las Vegas Sands controls several properties in Las Vegas including The Venetian and The Palazzo. It also operates several massive casino-resorts in Macau. Both of these major gaming destinations have struggled to bring in tourists and gamblers this year.

Analysts claimed several companies would be interested in taking control of Las Vegas Sands’ properties. As of now, however, none of the company’s properties have officially gone up for sale. It seems officials within LVS are focused on cutting down on costs right now, rather than getting rid of their gaming venues.

We’ve seen many hotel-casinos in Las Vegas limit their operating hours in recent months. The Palazzo is now choosing to do the same.

Reservations Are No Longer Accepted at The Palazzo Las Vegas

Tourism rates in Las Vegas have been low throughout the year. As many experts predicted, these tourism numbers have been dropping even further as the colder months approach. More travel restrictions and a major uptick in Covid-19 cases are contributing to this tourism drop.

This, of course, takes a toll on casino companies. Several of the biggest casino-resorts in Las Vegas have recently begun to shut down for certain days of the week as a way to cut down on costs. Las Vegas Sands is now choosing to take a similar approach.

Reports have confirmed that The Palazzo Las Vegas has stopped taking reservations and will shut down until at least December 23rd. This move is taking place to “better reflect occupancy patterns.” The casino at this resort will remain open, yet hotel guests are no longer permitted.

Airport traffic numbers shine a light on how much tourism in Las Vegas has dropped. This past October, airport traffic declined by 57% compared to the same month in 2019. It’s likely that an even larger drop will be reported for the month of November.

Las Vegas Sands isn’t completely shutting down its hotel business in Nevada. The Venetian’s hotel will remain open to guests. Hope is that the shutdown of The Palazzo will help LVS save money and remain operational during these difficult times.

It wouldn’t be a surprise to see more casino companies in Las Vegas announce shutdowns in the near future. Some even feel that Governor Sisolak will soon be forced to order all of the state’s casinos to close their doors again soon. Stay tuned for updates!

Atlantic City Casinos Struggle With New Regulations

Las Vegas isn’t the only major gaming destination hurting badly right now. Things are almost as bad over in Atlantic City, the East Coast’s premier casino hub. New regulations ordered by Governor Phil Murphy have been making things extremely difficult for casino companies here.

Not long ago, Murphy announced that casinos could no longer serve late-night food or beverages. This added to an already large set of restrictions towards these casinos. More regulations lead to a major decrease in tourism into the city.

Joe Lupo, president of Hard Rock Atlantic City, expressed his disappointment with this situation to the media this week.

“It’s so discouraging,” Lupo said. “We were doing really well. We were really gaining some ground… It’s going to be a long, slow winter. And there are going to be less people here and less people working.”

Fortunately, Atlantic City casinos are able to earn profits from New Jersey’s regulated online sports betting and casino industry. These internet gaming platforms are helping these companies stay afloat right now. We’ll need to wait and see how tourism and land-based casino revenue evolve here over the next few months.

Are you surprised to see The Palazzo Las Vegas shut its doors? What will be the next hotel-casino in Las Vegas to close? Let us know in the comments section below!

Who Will End up Buying Las Vegas Sands Casinos?

Las Vegas Sands Casinos

The past eight months have been some of the hardest in history for US casino companies. No one could have anticipated that this industry would still be struggling today. Not long ago, Las Vegas Sands announced it was interested in selling some of its largest gaming properties. We’re now beginning to hear which companies may end up buying Las Vegas Sands casinos.

LVS, like many other major casino operators, continues to see low revenue figures. We may begin seeing more of these companies announce property sales in the near future.

Let’s take a look at where the company’s casinos may end up!

Casino Revenue Remains Low Around the United States

The US casino seemed to be growing at a rapid pace around the country for the past few years. More states were passing laws to open new gambling venues. Revenue was flowing in and gambling fans were given more options to play their favorite games.

In March of this year, all of the progress that had been made come to a screeching halt. All casinos around the United States were forced to shut down due to health concerns. It took months for major gaming destinations to begin opening back up.

Simply reopening didn’t prove to be a perfect solution. Many people around the country are unwilling to travel while a pandemic rages on. A hurting economy also means fewer individuals are wanting to risk their money gambling.

Casino companies are being hit extremely hard. Many, including Wynn Resorts, have begun shutting down properties on certain days of the week to cut down on costs. These new hours are expected to remain in place until visitation rates return to normal.

Some companies are taking even more intense measures. Las Vegas Sands recently announced it was interested in selling some of its biggest US casinos. It was shocking news to hear from such a powerful gaming operator.

We’re now beginning to hear which companies may be interested in taking over LVS’ properties.

Here’s Which Companies Could End Up Buying Las Vegas Sands Casinos

Las Vegas Sands was founded back in 1988 by gambling mogul Sheldon Adelson. Over the next three decades, the company grew to become one of the world’s largest casino operators. Today, LVS owns casinos in Nevada, Macau, and Singapore.

Prior to 2020, things seemed to be going smoothly for this company. No one could have expected that company officials would be looking to sell their biggest venues in the US. This is the year to expect the unexpected, though.

Back in October, news broke that Las Vegas Sands was interested in getting rid of several US properties. The reports began spreading like wildfire. Analysts were quick to predict the companies interested in buying Las Vegas Sands casinos.

There seem to be a few leading candidates right now. Gaming analyst Chad Beynon recently spoke with the Las Vegas Sun about the companies most likely to take control of these venues. He claims Crown Resorts, Tillman Fertitta, and Galaxy Entertainment are all possibilities.

“Buying Venetian and Palazzo, that’s not just buying a property on the Strip, that’s buying a convention business,” he said. “The buyers that were looking at Caesars, they’re probably the same ones that would at least look at this. Tilman Fertitta was interested in Caesars, so I certainly think he’d be interested. On paper, it seems like that could work.”

As of now, no companies have announced a direct interest in these purchases. There are obviously many factors that need to be considered. It’s clear that Las Vegas Sands has some exciting options ahead, though.

Will Caesars look to continue expanding with more casino purchases?

Caesars Entertainment May be Interested in More Property Purchases

It wouldn’t be a surprise if you’ve heard about Caesars Entertainment in the news recently. Over the past two years, this company has been involved in several massive deals. The biggest, of course, being the merger with Eldorado Resorts.

Back in 2019, Eldorado Resorts agreed to pay an astounding $17 billion to take over Caesars. It was the largest casino company purchase in history. In order to get the deal approved, these companies needed to sell many of their different casinos around the country. The merger was finally approved earlier this year.

In September, news broke that Caesars had agreed to pay $3.7 billion to acquire William Hill’s US assets. William Hill is one of the largest sports betting companies in the world. This acquisition gives Caesars tremendous leverage in this new industry.

Some now feel that Caesars will end up buying Las Vegas Sands casinos. It’s clear that officials within the company including Tom Reeg are interested in expansion. At this point, however, no one knows if more Las Vegas properties are appealing.

The land-based casino industry is in uncharted waters. No one can predict how things will look six months from now. Make sure to stay tuned for updates over the next few months!

Are you surprised that LVS is selling its properties in Nevada? Which company do you think will purchase them? Let us know in the comments section below!

Gaming Revenue in NV Drops Again in September 2020

Las Vegas Sign and a Man Gambling at at a Roulette Table

Nevada has seen a drop in gambling revenue for months. Many analysts hoped that the casinos here would be back to normal by this time, or at least something close to normality. Unfortunately, new reports have just surfaced that show gaming revenue in NV has dropped once again in September, 2020.

This is what everyone hoped they would not see. The major casino-resorts in this city have been hurting badly for most of this year. Today, we’ll take a look at how much gambling revenue different areas of the state managed to bring in.

Let’s get into it!

More US Casinos Ask For Additional Funding From the Government

Nevada is not the only state seeing its casino industry in peril. Every state around the country has seen significant drops in gambling revenue throughout 2020. That includes other major gaming destinations including New Jersey, Louisiana, and Mississippi.

This is terrible news for both casino companies in the country and the thousands of individuals employed in this industry. If casinos fail, many lose their jobs and cities lose out on valuable money. It’s a serious issue that many have been trying to fix for months.

Earlier this week, officials within the American Gaming Association began pleading for more relief aid from the federal government. This group claims that many major casinos around the US are now in danger of failing. The AGA wants to ensure that casino companies will be included in any future relief bills.

Some gambling companies are finding valuable revenue in the form of sports betting. 24 states have now approved sports gambling legislation. States such as New Jersey are now seeing hundreds of millions being placed on sports every single month.

The US is now home to the largest sports betting market in the world. Many major European sports betting companies are now trying to break into this industry. Casinos may be hurting, yet sports betting continues to thrive.

We’re now seeing how much the casino industry in Nevada managed to bring in during September.

Reports on Gaming Revenue in NV for September Are Finally Here!

We’ve been covering the casino revenue reports in Nevada for the entire year. It’s been disappointing to see how many of the casino companies in this state have been bleeding money. Unfortunately, nothing changed during the month of September.

New reports from the Nevada Gaming Control Board show that gaming win in September was 22.4% lower when compared to the same month in 2019. The amount of money the casinos brought in was very similar to last month. Certain areas of the state were hit harder than others.

Overall, revenue in Clark County came out to $666.7 million. The Las Vegas Strip took the biggest hit in the entire state with a 39.1% decrease compared to September 2019. The casinos here managed to bring in just $354.7 million. Downtown Las Vegas saw a slightly-less-dramatic 21.5% drop in gaming revenue.

Most predicted that gaming revenue in NV would fall once again in September. Not many felt things would continue to drop by such large levels, though. No one can accurately say when Nevada’s massive gambling industry will get back to pre-pandemic levels.

Casino companies based in Las Vegas are now scrambling to come up with ways to save money. That includes laying off employees and closing down some of their properties for certain days of the week. Some companies are even discussing major casino sales.

Here’s what is happening in this city.

Las Vegas Sands is Interested in Selling US Casinos

For decades, Las Vegas Sands has been one of the most powerful casino companies in the United States. The Sheldon Adelson-run company has major properties all around the world. Like all other casino companies, LVS has been experiencing major drops in revenue throughout 2020.

Things appear to be getting dire for this company. Reports recently surfaced that Las Vegas Sands is interested in selling several of its major casino-resorts in Nevada. This deal could bring the company upwards of $6 billion.

Many analysts were surprised to hear that Las Vegas Sands was interested in selling some of its biggest properties. A move like this would only be done if it was completely necessary.

The idea that Macau would help to save companies like LVS has not turned out to be true. Casino earnings in the Chinese territory have been extremely low this year. It could be years before this trend changes.

We may see more major casino-resort sales soon. Casino companies may begin shifting their focus more towards online casino gambling and sports betting. Hopefully, relief aid helps these companies maintain their popular gaming venues.

Are you surprised to hear that gaming revenue in NV has dropped again? When do you expect things to improve here? Let us know in the comments section below!

Las Vegas Sands Reportedly Eyeing Sale of US Casinos Properties

Exterior View of the Marina Sands

Gambling operator Las Vegas Sands Corp. is exploring the the sale of its Las Vegas strip properties in a deal that could fetch $6B for the Sheldon Adelson-led corporation.

Las Vegas Sands is said to be currently working with an adviser to gauge and solicit interest for the Venetian Resort Las Vegas, the Palazzo, and the Sands Expo Convention Center.

According to people privy to the matter, Adelson is eyeing to focus on Asia while temporarily leaving the U.S. gambling market. A representative from Las Vegas Sands confirmed the the discussions but added that they are still in the early stages and nothing has been finalized yet.

Focusing in The Far East

If a sale is consummated, Las Vegas Sands would concentrate its casino operations in Macau and Singapore whose markets are much larger than the United States. While Las Vegas may be the more traditionally popular gambling destination, Macau is the biggest casino market in the world.

The company’s U.S. operations accounted for only 15% of the Sands’ total revenue in 2019. On the other hand, Macau accounted for 63% of the company’s $13.7B revenue last year while Singapore contributed 22% of that amount.

The insignificance of its U.S. market is said to be the main reason why Las Vegas Sands is studying to unload its key Las Vegas Strip properties. That plus the uncertainty of when Las Vegas is going to bounce back, have reportedly convinced Sands to focus in the Far East. Sands is reportedly eyeing an expansion in both Macau and Singapore with the company earmarking $2.2B in spending. A sale of its U.S. properties would fund that plan.

Asia is Bouncing Back Faster

The casino industry, which is dependent on air travel, is one of the hardest hit industries by the COVID-19 pandemic. As of June 30, 2020, the company reported a total outstanding debt of $13.2B excluding finance leases. If the Las Vegas situation doesn’t improve soon, it will lead to more losses for the company.

On the other hand, Macau is bouncing back faster. During an earnings call last week, chairman Sheldon Adelson revealed that the steady recovery of the Asian gambling market helped improve the company’s third quarter figures. Meanwhile, Marina Bay Sands had a profitable third quarter of operations.

Las Vegas Sands was founded by its current chairman, CEO, and majority shareholder Adelson who ranks among the wealthiest people in the world with a net worth of $29.7B. Las Vegas Sands is currently valued at around $37.5B.