Bally’s Corporation has been busy lately trying to grow its various gaming operations around the United States. The company has put a particular emphasis on further breaking into the Nevada casino market. New reports claim that Bally’s expansion in Nevada is making some serious progress.
A lot is changing in the US casino industry right now. 2022 is shaping up to be one of the biggest years in history for casino companies around the country.
Here’s a quick look at what is happening with Bally’s Corporation right now.
Gaming Board Gives Approval For Bally’s Expansion in Nevada
Nevada is home to the largest number of casinos in the United States. It’s here that many of the country’s biggest and most profitable casino operators are based. Bally’s Corporation, currently based in Rhode Island, has recently begun to make a sustained effort to break into Nevada’s casino market.
This company purchased the Tropicana Las Vegas earlier this year in a deal valued at $308 million. It was a huge move for the company and marked its first property located on the Las Vegas Strip. Bally’s has since been looking at other ways to break into Las Vegas.
Earlier this week, the Nevada Gaming Board unanimously approved Bally’s acquisition of Gamesys Group plc. Gamesys is a major online gaming operator based in the UK. Bally’s takeover of this company allows it to offer more unique gambling operations throughout the United States.
Bally’s Corp. took another step toward becoming an omnichannel gaming powerhouse. https://t.co/C58kHu02uq
— Las Vegas Review-Journal (@reviewjournal) October 14, 2021
This deal will better facilitate Bally’s expansion in Nevada. It should help the company to offer online operations including sports betting, online casino options, poker, bingo, daily fantasy sports, and free-to-play games. Many of these new gaming options will likely be featured inside the Tropicana Las Vegas.
Bally’s is certainly entering into a hot market. Let’s take a look at how the casinos in Las Vegas have been faring over the past few months.
Gambling Revenue in Nevada Passes the $1 Billion Mark in August
Las Vegas experienced a massive fall from grace in 2020. In March of that year, all of the casinos in this city were forced to shut their doors. It wasn’t until June that any of the gambling properties in this city were given permission to open their doors again.
Gambling revenue remained extremely low for all of 2020. Incredibly, things completely turned around in 2021. The city has set several monthly casino revenue records and continues to bring in a huge amount of money. This past August marked yet another month in which casinos around Nevada brought in more than $1 billion in total GGR.
Clark County unsurprisingly brought in the most money. It’s here that the casinos managed to bring in $993.4 million in total revenue. In total, more than $6 billion was wagered inside the state’s casinos and August’s GGR is up 57% when compared to August of 2020.
This is shaping up to be the best year in history for Las Vegas’ casino industry. The past nine months have proven that there is a serious pent-up demand among Americans to visit and gamble in Las Vegas. Many are expecting another fantastic month for the city’s casinos over September.
The casino operators in Las Vegas have been making big moves lately. Here are some of the most notable sales and purchases in the city to come up recently.
Biggest Las Vegas Casino Sales to Take Place in 2021
Things are constantly changing in Las Vegas. Casino companies here work to expand and increase their revenue figures. Sometimes that means selling properties and other times that means purchasing major casino-resorts.
2021 has brought about many of these sales and purchases. Las Vegas Sands, one of the most powerful gaming companies in the world, famously sold The Venetian earlier this year. This casino sale was made so that LVS can focus more on its operations in Macau.
MGM Resorts International is another powerful gaming company based in Nevada. Just weeks ago, news broke that this company had agreed to take over The Cosmopolitan. It will continue to pay rent on the real estate that this casino sits on.
While not necessarily a sale, the opening of Resorts World Las Vegas made serious headlines this summer. At $4.2 billion, this is the most expensive casino ever built in the city. A huge number of tourists made the journey to Las Vegas to see what this new property has to offer.
Bally’s expansion in Nevada is ongoing. We’ll be sure to continue offering updates on this company’s move into the country’s top gaming hub. Stay tuned for updates!