Hard Rock International Agrees to Buy MGM’s Mirage Hotel in Las Vegas

The first Las Vegas strip megaresort may be under new ownership soon. Officials announced earlier this week that Hard Rock International has reached an agreement with MGM to buy the iconic Mirage Hotel. Sources have said that the deal is worth almost $1.1 billion.

Before the sale becomes official, it is subject to regulatory approvals and must pass standing closing conditions. It is not expected to be finalized until late 2022. The details of the sale were released in a press release earlier this week.

Originally opened on November 22, 1989, the Mirage Hotel is credited with changing the landscape of the Las Vegas strip. It was built during a time that Las Vegas casinos needed a new way to compete with growing lottery and tribal casinos in other states. At the time it was built, the Mirage was the largest hotel resort in the world with 3,044 rooms. It was also one of the first hotels to focus on non-gambling attractions to lure in guests.

Why did MGM Sell the Mirage Hotel?

The Mirage Hotel has been a staple on the Las Vegas strip for over three decades. Unfortunately, it is located on the northern end of the strip. Experts believe that MGM has been looking to consolidate its properties to the central and southern parts of the strip. MGM previously sold its other northern properties as it moves to an “asset-light” business model. Treasure Island was sold in 2009 and Circus Circus was sold in late 2019.

Selling the Mirage Hotel and its other properties have not been the only move made by MGM. They have also announced plans to purchase The Cosmopolitan of Las Vegas, which is located in the southern part of the Vegas strip.

Officials from MGM have said that selling the Mirage Hotel will allow them to focus more on improving their other Las Vegas properties. Having fewer properties to manage will allow for a renewed focus on an improved customer experience. As MGM adopts a quality over quantity approach, it became necessary to part with the legendary hotel.

What are Hard Rock’s Plans for the Mirage Hotel?

If the sale goes as planned, Hard Rock International will once again own a stake in the Las Vegas strip. Hard Rock previously operated a hotel on the strip, but it was sold to Richard Branson in 2018.

Hard Rock International has previously discussed plans for building a 1,000-room guitar-shaped hotel on the Las Vegas strip. The Seminole Tribe, who owns Hard Rock International, already has one guitar-shaped hotel in its home state of Florida. There have also been discussions of plans to build similar guitar-shaped hotels in Nashville, Mexico City, Japan, and Barcelona. It is unknown at this time if that would mean tearing down the Mirage Hotel or building a hotel altogether.

In the short term, the hotel resort will continue to operate under the Mirage name. MGM has agreed to license the brand to Hard Rock International for up to three years royalty-free. The ability to license the Mirage brand is important in keeping the hotel open and operating. Hard Rock must obtain a Nevada Casino license, which could take up to a year.

Officials from Hard Rock International also announced that they intend to keep all 3,500 employees that currently work at the Mirage Hotel. Hard Rock Chairman Jim Allen has also stated that they will enter into a long-term lease agreement with VICI Properties Inc., a real estate investment trust.

Conclusion

An agreement has been reached between MGM and Hard Rock International to sell the iconic Mirage Hotel. MGM first opened the hotel in the late 80s and changed the landscape of the Las Vegas strip forever. Now, for the hefty price of $1.1 billion, the Mirage Hotel will likely be under new ownership by this time next year. The sale must be approved by regulatory bodies and pass certain closing conditions before it is finalized.

What Hard Rock plans to do with the storied hotel is unknown. Officials have said they will wait to decide the fate of the Mirage until Hard Rock obtains a Nevada gaming license. In the meantime, the hotel will remain open and operate under a licensing deal between MGM and Hard Rock International. Officials from Hard Rock have also stated that they intend to keep all 3,500 of the Mirage employees on their payroll.

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

Las Vegas Sign With MGM And Strip Background

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

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

Let’s get into it!

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

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

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

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

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

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

State Reports on Casino Revenue Continue to Surface

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

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

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

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

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

Sports Betting Revenue is Surging Around the US Right Now

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

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

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

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

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

A Surge of Tourists are Expected to Experience Thanksgiving in Las Vegas This Year

Las Vegas Strip Thanksgiving Background

The winter holidays have finally arrived! Most analysts are now expecting a massive wave of tourists looking to experience Thanksgiving in Las Vegas. It seems this could be one of the most successful Thanksgiving weekends in recent history for this city.

Things were far less than ideal in Las Vegas just one year ago. A lot has changed since that time. Now is a great time to talk about how the holidays could affect the casino industry here moving forward.

Let’s get into it!

Analysts Expect a Wave of Tourists Heading to Thanksgiving in Las Vegas

If 2020 proved anything, it’s that Las Vegas is a city that relies on tourists. When visitors stop making the trip to this gambling and entertainment hub, much of the economy shuts down. Fortunately, tourism rates here have been high through nearly all of 2021.

The holiday season has arrived and, historically speaking, this results in high tourism rates in Las Vegas. Nearly all of the health restrictions set in place in 2020 have been removed. As a result, many analysts predict that a huge surge of tourists will choose to enjoy Thanksgiving in Las Vegas this year.

Many things will contribute to the rise of tourism during this week’s holidays. That includes the reopening of the famous buffets across Las Vegas. Amanda Belarmino, a UNLV hospitality professor known for her analysis of the economy in Las Vegas, believes this will bring in many visitors over Thanksgiving this year.

“I would expect this year to be similar to what we usually see, lighter demand that we have been seeing throughout this year but with a fair amount of travel to see family members here,” she said. “Also, the reopen(ed) buffets will attract people who want to get together without cooking.”

A few days remain until Thanksgiving and hotels in the city continue seeing a major increase in bookings. We’ll be sure to report on the number of tourists making the trip here as the months go on!

Las Vegas Casino Revenue Remains High Through 2021’s Q4

At the start of the year, gaming analysts seemed torn as to how successful the casino industry in Las Vegas would fare over 2021. Some felt it would take years to recover from the events of 2020. Others felt that the removal of health restrictions would lead to a major, quick surge of tourism and revenue.

The latter group proved to be correct. Las Vegas is having its best year in history in terms of overall gaming revenue. This trend is continuing through the year’s fourth quarter and casino companies here continue to report impressive revenue figures.

Reports on Nevada’s gaming revenue for October have not yet been released. Most analysts are predicting another great month. Many other states around the country have released their revenue reports for the month and nearly all have seen large increases in GGR.

There is certainly reason to believe that Las Vegas will continue to thrive in 2022. Casinos here are already preparing to bring back some of the amenities shut down last year. Several major musical acts have also announced their plans to resume residencies in the city.

The city’s latest GGR reports are expected to come out within the next few days. Stay tuned for a detailed analysis of these reports!

Most Casino Hubs Report Massive Growth in 2021

Las Vegas is not the only major casino destination to report impressive revenue figures throughout the year. Most of the country’s biggest gaming hubs have done the same. In fact, the American Gaming Association claims 2021 will be the best year in history for the US gambling industry.

Atlantic City is one place experiencing incredible growth in its casino industry. Not long ago, the New Jersey Gaming Commission released revenue reports for 2021’s third quarter. Some were surprised to see that the casino industry here brought in double the amount of revenue during this time when compared to the same period in 2020.

Louisiana is home to one of the largest casino industries in the Southern United States. This past October, the casinos here brought in 21.8% more revenue than October of 2020. The arrival of sports betting this month will help to fuel tourism to casinos leading into 2022.

It’s an exciting time for the US gambling industry. A huge number of states are currently working to expand their casino industries. Sports betting is also making its way to even some of the most anti-gambling states in the country.

Do you expect to see a wave of tourists looking to enjoy Thanksgiving in Las Vegas this year? How will the casinos here fare in 2022? Let us know in the comments section below.

Here’s a Look at the Growth of Vici Properties in Las Vegas

Ed Pitoniak CEO Vici Las Vegas Background

Las Vegas has been on a wild roller coaster ride over the past two years. New casino companies have worked to expand in the city, including the New York City-based investment trust, Vici Properties. Today, we’ll talk about the growth of Vici properties in Las Vegas.

Things have been going very well for the county’s top casino hub. There is reason to believe that 2022 will be another hugely successful year for this industry.

Here’s what you need to know!

Reports on the Growth of Vici Properties in Las Vegas Surface

Prior to March of 2020, everything seemed to be going perfectly in Las Vegas. Tourism rates were high and casino revenue was steadily growing. The pandemic took a devastating toll on the city, causing casinos to shut down and forcing a huge number of residents here to lose their jobs.

Things have completely turned around in 2021 and revenue figures here have been hugely impressive. As a result, many different companies are now looking to break into Las Vegas. That includes Vici Properties, which has been steadily increasing its presence in Sin City over the past year.

The Nevada Independent recently released a report on the growth of Vici Properties in Las Vegas. The report details how Vici Properties now owns some of the biggest and most lucrative properties in the city. That includes The Venetian, Caesars Palace, and MGM Grand. VICI CEO Ed Pitoniak and President John Payne spoke to the media about the company’s expansion over the weekend.

“Our mission since we started the company was to diversify our casino tenant base,” Payne said. “We also wanted to diversify where our real estate is located. Not only do we have numerous tenants and will continue to add to our roster, but we’re buying real estate all over the United States.”

Things appear to be going very well for Las Vegas and the companies operating here. Let’s look ahead to how this city might fare throughout 2022.

Las Vegas Will Continue to Thrive in 2022

At the start of 2021, gaming analysts seemed torn on how Las Vegas would perform throughout the year. Some felt that travel would remain stagnant and casinos would struggle to bring in tourists. Others believed that many would be eager to visit fun destinations like Las Vegas after more than a year of intense lockdowns around the country.

The latter proved to be correct. Tourism into Las Vegas has been steadily increasing throughout the year. The casinos here have also posted record-breaking revenue figures on several occasions in 2021.

Analysts are once again debating how the casino industry in Las Vegas will fare in 2022. Most agree this will be another very successful year for the city’s casinos. The intense health restrictions set in place in 2020 have been removed.

The opening of new casinos, including Resorts World Las Vegas, is also likely to draw in more visitors next year. A huge number of major musical acts are making their way to the city. That includes several residencies inside the city’s top resorts.

The entire US gambling industry is faring well right now. Let’s take a quick look at how the country’s sports betting market could expand next year.

More States Prepare to Launch Legal Sports Betting Options

Nearly all major casino hubs have seen large revenue increases over 2021. The same can be said for most of the country’s regulated sports betting markets. Several states launched their first regulated sportsbooks this year and most have seen impressive revenue figures.

It seems likely that several more states will launch their first regulated sports betting options in 2022. California is one of those states. Lawmakers in the state continue negotiating with tribal groups and all signs point to a vote to legalize sports betting appearing on the ballots next November.

A huge amount of attention has been placed on Massachusetts’ path to legalize sports betting. Those hoping to see sports gambling legalized in 2021 seem out of luck. Fortunately, it is looking very likely that this form of gambling will gain full approval next year.

As more states begin to regulate sports betting, revenue from this industry increases. This is proving very beneficial for many US casino companies right now. We’ll be sure to continue reporting on the growth of sports betting as the months go on.

Are you surprised to see the growth of Vici Properties in Las Vegas? How do you think major casino hubs will fare next year? Let us know in the comments section below.

US Gambling Revenue Broke Records During 2021’s Q3

Las Vegas Sign And Strip With Raining Money Background

The past ten months have been some of the best in history for casino companies around the United States. That is incredible when considering the difficulties these companies faced in 2020. New reports surfaced this week showing that US gambling revenue broke records during this year’s third quarter.

It’s incredible to see just how much money US gaming companies manage to bring in this year. Now is a great time to break down these latest reports. We’ll also talk about which casino operators are faring the best right now.

Let’s get into it!

AGA Releases Reports on US Gambling Revenue for 2021’s Q3

The American Gaming Association has been reporting on gambling revenue around the country throughout 2021. Early into the year, this group revealed that 2021 would end up becoming the best year in history for the US casino industry. Those predictions have ended up being correct.

The AGA has just released its reports on US gambling revenue for the year’s third quarter. Some were surprised to find that this industry managed to generate $14 billion over the months of July, August, and September. That represents the best quarter in history for this industry.

Certain forms of gambling managed to bring in more money than others. Land-based casino revenue remains on track to break records. Bill Miller, President and CEO of the American Gaming Association, spoke this latest report to the media this week.

“Two straight quarters of record gaming revenue is an incredible accomplishment in any context, let alone after the most challenging year in industry history,” Miller said. “Our recovery is not a flash in the pan, but rather a sustained result of our leadership in responsible reopening, world-class entertainment offerings and widespread favorability.”

Casino companies continue to find success. That includes the ones located in Las Vegas. Let’s take a look at how much money the country’s biggest casino hub managed to bring in during Q3.

Las Vegas’ Casino Revenue Continues to Surge

2020 was the worst year in history for the economy of Las Vegas. When the casinos here were forced to shut down in March, much of the city’s economy came to a screeching halt. Las Vegas then slowly worked to recover leading into 2021.

Things completely turned around this year. Casinos in Las Vegas have been reporting consistent increases in revenue throughout the year. The AGA is now shedding light on how much money was earned here over the year’s third quarter.

The Las Vegas Strip managed to bring in a staggering $2.06 billion over the course of July, August, and September. This is due largely to a major increase in tourism into the city. 9.2 million individuals made the trip to this city over the quarter, representing a massive increase when compared to Q3 of 2020.

Casino revenue remains on track to break a total annual revenue record in 2021. This year is proving to be the best in history for most of the country’s casino operators. Some have been seeing much better revenue figures than others.

A lot has been happening with the country’s top casino companies over the past two years. Below is a quick breakdown of the companies that are struggling and ones that are flourishing.

Breaking Down the Performances of US Casino Companies

Every single US casino operator struggled immensely through 2020. Most have seen major turnarounds in 2021. Unfortunately, not all of these companies are profiting as much this year as others.

MGM Resorts International continues to impress its shareholders. This company has seen consistent revenue increases throughout 2021 and recently purchased The Cosmopolitan in Las Vegas. MGM Resorts CEO Bill Hornbuckle now supports Nevada legalizing online casino gambling and many feel this could help the company to bring in more revenue in the future.

Wynn Resorts has also been profiting throughout the year. This company has found itself in difficult situations with regard to its change in leadership. Overall, however, 2021 has been a successful year for the Las Vegas-based company.

Las Vegas Sands posted some unfortunate figures over the year’s third quarter. The company’s properties in Macau have struggled to bring in revenue. Despite that fact, LVS executives remain optimistic about the future in Asia’s largest gambling hub.

Are you surprised to see how much US gambling revenue was earned during the year’s Q3? How do you think this industry will fare over Q4? Let us know in the comments section below.

Here’s Why Caesars Entertainment’s Share Prices Fell This Week

Caesars Entertainment And Stock Market Background

By all accounts, 2021 has been one of the most successful years in history for the US casino industry. Some companies ended up struggling over the year’s third quarter, though. It seems that a tough third-quarter ended up having a major impact on Caesars Entertainment’s share prices.

Now is a great time to look at how much money this company brought in over April, May, and June. We’ll also discuss what quickly led to its stock prices increasing again.

Let’s get into it.

Quarterly Revenue Reports Leads to a Drop in Caesars Entertainment’s Share Prices

Caesars Entertainment has been one of the most successful casino operators for decades. Back in 2020, the company’s massive merger with Eldorado Resorts was completed. Together, these companies formed a powerhouse in the US casino market.

2021 has seemed to be a tremendous year for the company. Over the year’s second quarter, revenue figures were increasing and executives claimed they were interested in expansion. Revenue reports on 2021’s third-quarter earnings have just surfaced and some were surprised to see that the company lost $233 million over April, May, and June.

This news immediately sent Caesars Entertainment’s share prices down. These prices dropped by as much as 8% leading into a company conference call. Shortly after this call, the company’s stock prices started to increase as news of an upcoming Las Vegas casino sale broke.

Specifically which casino Caesars plans to sell is currently unknown. This company owns a huge number of successful casinos on the Las Vegas Strip. The sale of one of these properties has been confirmed to take place in “early 2022.”

Caesars Entertainment is not the only casino company to recently release revenue reports. Let’s look at how some of the other gaming operators in the US are faring right now.

More Casino Companies Release Release Quarterly Revenue Reports

The events that unfolded in 2020 took a devastating toll on the US casino industry. All of the country’s casinos were forced to remain closed for months out of the year. Many began to reopen over the summer, yet the amount of revenue these properties was able to bring in remained extremely low.

2021 has proven to be much different. Several major casino companies have just released their revenue reports for the year’s third quarter. It’s clear that some of these companies fared better over this time period than others.

Golden Entertainment is one casino operator to experience revenue surges over 2021’s third quarter. The company managed to bring in $282.4 million over the quarter, with a net income of $29.1 million and Adjusted EBITDA of $73.4 million. Executives seem pleased with these results and expect a highly successful fourth quarter.

MGM Resorts International gave its shareholders reason to be optimistic, too. This company just revealed that it had a Q3 net income of $1.4 billion. Net revenue from MGM’s properties in Las Vegas increased by 187% when compared to the same time period in 2020.

Caesars Entertainment’s share prices dropped due to the third-quarter revenue drop. It will be interesting to see how the stock prices of the companies listed above change over the next few weeks. Stay tuned for updates!

Sports Betting Revenue Remains High Around the United States

Casinos across the United States have been reporting large revenue increases throughout the year. Sports betting revenue figures have been going up throughout the year, too. 2021 has already proven to be the best year in history for the US sports gambling industry.

This past August proved to be a slow month for this industry. Things have completely turned around in September, though. Just about every state with regulated sports gambling options has been reporting large revenue increases.

Virginia is one of those states. The sports gambling operators here managed to bring in $30.9 million over the course of the month. Sports betting launched here in January and has already proven to be hugely popular.

September was also a historic year for the sports betting industry in New Jersey. It was this month that the state’s sportsbooks saw more than $1 billion in total sports betting handle. Most of these wagers were placed on the NFL season.

Were you surprised to see Caesars Entertainment’s share prices falling? How will the year’s fourth quarter be for US casino companies? Let us know in the comments section below.

Las Vegas Sands Officials Remain Optimistic About the Future of Macau

Robert Goldstein Macau Sands Las Vegas Logo

The past two years have been some of the most unusual in history for Las Vegas Sands. Much of the focus on this company has been on its operations in Macau. Fortunately, most Las Vegas Sands officials remain optimistic about the future of the company’s presence in Macau.

A lot has been changing in this territory in recent years. Many analysts remain skeptical of how the casino industry will fare here heading into 2022. Now is a great time to talk about why Las Vegas Sands believes there is no need for panic.

Let’s get into it!

Las Vegas Sands Officials Discuss Plans for Future in Macau

Prior to 2020, Macau was considered the most successful hub in the world. It would attract millions of people from around the world every single month. A huge number of US-based casino companies invested billions of dollars into this gaming hub. Many have experienced large revenue losses here in recent years.

Soon, many of these companies will see their gaming licenses in Macau expire. Some have expressed concern that Macau’s gaming regulators will be hesitant to renew these licenses. Interestingly, Las Vegas Sands officials remain optimistic that everything will resolve itself without issue.

Las Vegas Sands Corp. CEO Rob Goldstein spoke to the media about this situation recently. He claims the company is bringing Macau valuable revenue and employment. You can check out his comments below.

“I think the government has recognized that we’ve been awfully good licensees, partners and friends with China and Macao. So I really don’t think (losing licenses) is a possibility,” Goldstein said. “We’re very proud of our track record, our developments and our investments.”

It would be a shock to see Macau refusing to renew the licenses for major US casino companies. A 45-day review process is currently underway and companies should soon receive word on their new gaming license applications. Stay tuned for updates on this situation.

Upcoming Grand Prix Could Help to Fuel More Tourism Into Macau

Macau regularly plays host to a major racing event every year. Under normal circumstances, this race helps to bring in a huge number of tourists to the territory. This naturally helps to bring the casinos in Macau a massive surge in revenue every single year.

This year’s Macau Grand Prix has been confirmed to begin on November 6. Analysts are now confident this race will be hugely beneficial to the city’s casino industry. Most expect it to bring millions of tourists into Macau.

The Macau Grand Prix could certainly help to prove that the city is on the road to recovery. Safety concerns remain, yet organizers remain confident that things will run smoothly. Hotels in Macau are already reporting major surges in bookings leading into the race day.

Next month’s Grand Prix will also bring about a valuable revenue boost for the casino operators here. Many have seen record-low revenue figures since 2020. That includes Las Vegas Sands, which has recently sold many of its US-based casinos in order to focus more on its operations in Macau.

A lot is happening in Asia’s largest gaming hub. We’ll offer more information on how the Grand Prix affects the casino industry here once it is complete.

US Casino Companies Continue Posting Impressive Revenue Gains

Macau’s casino industry may soon begin to see an incredible comeback. Meanwhile, the US casino industry continues to thrive. Casino operators here have been posting record-breaking revenue figures throughout the entire year.

Most analysts expect this trend to continue. Tourism rates into major gaming hubs continue to increase. That includes visitation into Las Vegas, where many of the country’s biggest and most successful casino companies in the world are currently based.

Several events have taken place in Las Vegas in 2021 that helped to drive tourism. That includes the opening of Resorts World Las Vegas over the summer. At $4.3 billion, this is the most expensive casino to ever open its doors here.

Atlantic City is also seeing a consistent increase in visitors. As a result, many of the casinos here are preparing to undergo major renovations. It will be interesting to see whether or not 2022 ends up being an even more successful year for the country’s gaming industry.

Do you agree with Las Vegas Sands officials about their upcoming gaming license renewal? Is Macau set for a major comeback? Let us know in the comments section below.

Two Casinos in New England are Ranked the Best in the US

Mohegan Sun Casino And Foxwoods Resort

The US casino industry has expanded over the past couple of decades. The days when only Las Vegas featured world-class gambling venues are over. Reports surfaced this week claiming that two casinos in New England have been ranked as some of the best in the country.

This is a big accomplishment for these properties. It also goes to show that this area is developing into a real gambling hub. Now is a great time to talk about which properties received this prestigious award.

Let’s get into it.

Two Casinos in New England Make Prestigious Awards List

For many years, lawmakers in Massachusetts pushed against allowing any casinos to open in the state. It was frustrating for the gambling advocates here that pointed toward the huge amount of tax revenue that could be earned by regulated casinos. Finally, in 2013, a law was passed to finally allow Class III casinos to run inside Massachusetts.

Connecticut is another state with a growing casino industry. Casinos have been legal here since the 90s and several tribes have opened truly world-class properties here. These two states have helped to expand what was already a solid gambling region of the country.

News broke today that two casinos in New England were named as some of the best in the country by USA Today. The first is the Foxwoods Resort Casino. This property is home to more than 4,500 slots, 300 table games, and the largest poker room on the East Coast.

“One of two premier gaming resorts in Connecticut, Foxwoods Resort Casino offers 4,500 slot machines–ranging from penny games to $100 minimums–as well as 300 table games, high stakes Bingo at one of the world’s largest Bingo halls, a race book with 50-foot digital projection screens and the largest poker room on the East Coast. Four unique hotel properties and over 30 restaurants make it easy to stay and play,” USA Today wrote. 

The Mohegan Sun in Uncasville, Connecticut also earned a spot on this list. This property was actually named the best casino hotel. Anyone on the East Coast should at least consider visiting one of these impressive venues to see what all the hype is about!

More Northeastern States Work to Expand Their Gambling Industries

Massachusetts and Connecticut are far from the only states in the Northeastern US with large and successful gambling industries. As many are aware, New Jersey is home to the largest overall gaming industry on the East Coast. New York and Pennsylvania are also working to expand their number of gambling options.

In time, the Northeastern US could grow to become the most profitable gambling region in the country. Many of the states here are currently working toward expansion. Sports betting, in particular, has been growing steadily in this area since PASPA was removed in 2018.

Maryland is one state currently working to finally launch its first sports betting options. Unfortunately, officials are still working to come up with a concrete set of rules to monitor this form of gambling. Several casinos have gained licenses to operate sportsbooks here, yet none have so far launched in the state.

Massachusetts is another state that appears to be on the brink of legalizing and regulating sports betting. A special council was set up here to weigh the pros and cons. Based on the progress being made, sports gambling will go live here in 2022.

There are many changes being made in the US gambling industry. The Northeastern area of the country continues to expand its number of gambling options. Two casinos in New England are even ranked as some of the best in the country! Stay tuned for updates on this situation as time goes on.

Las Vegas Continues to Thrive Through 2021

The entire US gambling industry has been performing well through the first ten months of the year. Las Vegas remains the biggest gambling hub in the country. Here, casino companies continue to report impressive revenue figures.

Many world-class casinos are currently based here. That includes MGM Resorts, which owns and operates a huge number of popular casinos throughout Las Vegas. That includes The Cosmopolitan, which this company recently took control of.

Over the month of August, the casinos in Las Vegas reported more than $1 billion in total GGR. The vast majority of this money was earned by venues on the Las Vegas Strip. Many are predicting that September will be an even better year for the city.

The start of the 2021/2022 NFL season has helped to bring a massive surge of sports bets here. Many have also made the trip to Las Vegas to visit Allegiant Stadium, where the Las Vegas Raiders play. This boost in tourism always results in more gaming revenue. We’ll be sure to offer updates on the city’s September revenue figures as they are released.

Are you surprised to hear how highly-ranked the two casinos in New England are? What do you think is the country’s next big gambling hub? Let us know in the comments section below!

US Casino Operators in Macau Brace for Revenue Drops

Macau Casinos With Red Down Arrow

Macau’s casino industry has been struggling immensely since early 2020. This has made things extremely difficult for all of the US casino operators in Macau. New reports have just surfaced claiming that casino revenue in Macau is expected to drop soon once again.

There is a real reason for the casino operators here to be concerned. Mainland China has been putting major pressure on Macau and seems to be targeting the territory’s gaming industry.

This is a quick look at what is exactly is taking place here.

Here’s Why US Casino Operators in Macau are Concerned Right Now

Prior to 2020, things seemed to be almost perfect for the gambling industry in Macau. This city had long been the most profitable gaming destination in Asia. Millions would flock from Mainland China and other countries around the world to visit and gamble inside the multi-million dollar properties operating here.

In early 2020, things completely changed. Officials in Macau ordered all of the city’s casinos to shut their doors. China’s government set intense travel restrictions to and from Macau and the casinos operating here immediately saw their revenue figures plummet.

Many of the US casino operators in Macau are now showing concern about their revenue figures in the near future. Casino companies in the city are expecting total Q3 profits to come out to just $62 million before interest and taxes. Analysts are also forecasting that 2021’s third quarter will be the worst in history for the casino industry here.

This quarter is historically the most successful month in history for the casino industry here. Unfortunately, travel and health regulations kept many visitors away. Many are now expecting another poor three months over 2021’s fourth quarter.

These upcoming revenue reports will likely have an impact on the share prices of casino companies in Macau. Stay tuned for updates on this situation over the next few months.

How is the US Casino Industry Faring Right Now?

The US casino industry found itself in a similar situation to Macau’s in early 2020. In March of last year, officials around the country ordered their casinos to shut down to the public. All US casinos remained closed to the public until the summer months.

2021 has proven to be completely different for this industry. Revenue figures have been surging throughout the year. In fact, casino revenue hit new monthly records on several occasions throughout 2021.

August has proven to be another solid month for casino companies around the United States. That includes the properties in Atlantic City. Gambling revenue surged here in August and new organizations are beginning to invest in various casinos around the city.

Pennsylvania is another major gambling hub to experience a revenue surge in August. The casinos here managed to bring in more than $408 million in revenue over the month. Pennsylvania is quickly developing one of the largest gaming industries in the country.

Many of the top US casino operators are now focused more on expansion. Here’s a look at some of the recent casino sales and purchases around the United States.

Expect to See More Casino Sales in 2022

There was concern that the events that unfolded in 2020 would have an irreversible effect on the world’s casino industry. It’s been incredible to see how quickly the casinos in the United States have managed to turn things around.

Many of the top casino operators in the United States are now looking more at casino sales and purchases. That includes property sales in some of the country’s top gambling hubs. Several of these purchases have already taken place in Las Vegas this year.

Las Vegas Sands is one company that has been involved in several major sales over the past two years. This gaming operator recently sold The Venetian, one of its biggest and most profitable gambling properties in Las Vegas. It has since focused on its operations in Macau, yet revenue figures in this Asian casino hub remain low.

It seems very likely that more major casino sales and purchases will be announced in 2022. Things are changing fast in this industry. It will be interesting to see which companies decide to make the move into places like Las Vegas over the next 14 months.

US casino operators in Macau are in for a tough few months. What do you think will happen with Macau’s casino industry in the future? Let us know in the comments section below.

How are MGM Resorts’ Casinos in Macau Impacting the Company?

MGM China Casinos Background

MGM Resorts International is one of the largest and most successful casino companies in the world. Lately, analysts have been questioning how MGM Resorts’ casinos in Macau are affecting the company. Things have been far from ideal in this Chinese territory, to say the least.

China continues to implement intense safety measures here. The future of one of the world’s biggest gambling hubs remains uncertain. Today, we’ll discuss how things may change here in the future.

Let’s get into it!

MGM Resorts’ Casinos in Macau Continue to Struggle

Macau has been one of the world’s most profitable gambling destinations for decades. Lately, however, this territory has seen its casino industry struggling to stay afloat. Much of this is due to the intense new regulations being set in place from Mainland China.

MGM Resorts International is one company suffering from this increase in regulations. This major gaming operator owns two casino-resorts in Macau. Revenue from these properties has remained extremely low since that pandemic began in early 2020.

Officials within MGM Resorts don’t seem overly concerned. Bill Hornbuckle, CEO and president of MGM Resorts International, spoke with the media recently about China’s impact on the company’s operations in Macau.

“Until proven wrong, I’m not and we’re not overreacting to what is being hyped or said,” Hornbuckle said. “We are hoping rational minds control in the end because this is the Macau economy… [Local and national officials] recognize the value that it [casino industry] brings and ultimately the value that we’ve brought as operators to the greater community. I mean we do a lot in the community just beyond employment, which is a big piece of it, of course. So I, I think we’re all in good standing.”

It’s likely that MGM Resorts’ Casinos in Macau will continue to suffer. Fortunately, this company has been performing well with its operations throughout the United States.

Will MGM Resorts Expand Further in Las Vegas?

Macau remains the biggest casino hub in Asia. Over in the United States, Las Vegas still holds that title. It’s here that some of the biggest and most expensive casinos ever built are located. That includes the recently opened Resorts World Las Vegas, which cost an incredible $4.3 billion to construct.

MGM Resorts owns many popular gambling venues in Las Vegas. This company is showing a new motivation to expand in Sin City, too. News broke recently that this company is set to acquire The Cosmopolitan Resort for $1.6 billion.

Moving forward, MGM Resorts will take control over The Cosmopolitan’s operations. It will not own the real estate; instead choosing to pay $200 million in annual rent. That number will increase by 2% to 3% over the next 30 years.

There is no doubt that MGM Resorts is focused on expansion. Las Vegas has bounced back tremendously from the events that unfolded in 2020 and continues to break gaming revenue records. It seems that MGM Resorts is interested in breaking into the US online casino industry, as well.

It’s an interesting time for the entire US casino industry. Things are also ramping up for US sports betting operators with several new states set to launch their first sportsbooks soon.

States Continue Preparing for First Sportsbook Launches

Sports betting was limited to Nevada for most of the past few decades. Finally, in 2018, the US Supreme Court struck down PASPA. This opened the door for every state in the country to legalize and regulate this popular form of gambling.

The past couple of years has proven how large of a demand there is for sports betting throughout the US. More than half the nation now has regulated sports betting options available. Several more states are preparing to launch their first sportsbooks in the near future.

Florida is one of those states. Lawmakers here technically legalized this form of gambling earlier this year. Unfortunately, legal battles between several pari-mutuel companies have delayed the launch of any regulated sportsbooks here. Hope is that these sportsbooks go live in early 2022.

Louisiana is another state working hard to get its sports betting operations live. Several delays have come up in the process.

Those hoping to see Massachusetts legalize sports betting in 2021 might be out of luck. The State Senate recently announced it has no plans to approve a sports betting bill this year. Residents here are now looking head to 2022 for this to take place. Stay tuned for updates!

Are you surprised at how MGM Resorts’ casinos in Macau have been faring? Will casino companies soon decide to leave Macau entirely? Let us know in the comments section below.