Circa Sports Plans Summer Launch for Reno Sportsbook

Circa Sportsbook video wall
This summer will mark a first for Circa Sports. The sports betting operator announced plans to launch its first sportsbook outside of Las Vegas. Circa will be teaming with the Legends Bay Casino in Sparks, NV for the launch. The launch date and final terms of the deal have not yet been announced.

The sports betting market in the Reno area is a far cry from that of Sin City. However, there is still plenty of sports betting revenue to go around. Circa Sports will try to use its experience in the industry to break through into the new market.

Before the sportsbook can open in the Reno market, Legends Bay Casino needs to open. The casino project has been under construction since 2007. After 15 years, the partnership with Circa Sports could be a sign that the project is coming to an end. It will be the first newly constructed casino to open in Reno in three decades.

What Is Circa Sports?

Circa Resort and Casino opened in October 2020 in Las Vegas. The casino resort has over 8,000 square feet of gaming space. There are also several fine dining options and a rooftop pool. One of the biggest attractions at Circa is the three-story sportsbook located on-site.

The Circa retail sportsbook is one of the most unique gaming experiences in Vegas. However, for its new deal with Legends Bay Casino, Circa Sports is partnering with Olympia Gaming. Olympia Companies, which owns Olympia Gaming, is in charge of developing the casino site. Details of the partnership are still coming out.

After it is completed, Olympia Gaming will be in charge of running the new sportsbook. However, it is believed that Circa Sports will be providing the mobile sportsbook app for the casino. This will be Circa Sports’ sixth sportsbook in Nevada and its first in the northern part of the state. Circa sports also has operations in Colorado and Iowa.

Reno’s Legal Sports Betting Market

Few gaming markets can come close to matching the production of Las Vegas. Still, Reno’s sports betting market more than pulls its own weight. In 2021, the Reno market as a whole generated nearly $890 million in gaming revenue. It was the 11th largest market in the US.

Included in the market are nearby Sparks, NV, and bettors traveling from Salt Lake, UT. The Reno market is largely dominated by Caesars Entertainment, specifically its William Hill brand. Caesars is the largest gaming company in the region, so its dominance is not surprising.

Despite the presence of several other competitors, Circa will attempt to break into the market. Circa Sports quickly established itself as one of the best retail sportsbooks in Las Vegas. The gaming company will look to do the same in the Reno Market. Details of the retail sportsbook have yet to be released. However, if it is anything like Circa’s three-story venue in Vegas, it will certainly lure away bettors from its competitors.

When Will the Legends Bay Casino Open?

Construction on the Legends Bay Casino first started in 2007. It was supposed to be the first newly constructed casino in Reno since the early 1990s. While it still will have that honor, it will come long after it was originally planned.

Legends Bay Casino was initially delayed by the financial crisis in the late 2000s. The project then moved to a phased approach due to limited financing options. That caused progress on the construction to be significantly slowed. The recent pandemic only further slowed construction on the new casino.

After more than a decade and a half, the Legends Bay Casino appears ready to open. There is no opening date set, but the project is expected to be done sometime this summer. It is unclear how the new partnership with Circa Sports will affect construction plans. Regardless of when it opens, the new casino will enter a drastically different gaming market than the one in 2007.

Conclusion

Construction on the Legends Bay Casino appears to finally be coming to an end. When the long-awaited casino finally opens, it will do so with a Circa Sports partnership. Circa Sports will work with Olympia Gaming to run the sportsbook at the new casino. Details of the partnership are still being released.

Since opening in 2020, Circa Resort and Casino has been one of the must-see attractions in Las Vegas. Now, the gaming company will open its first sportsbook in northern Nevada. Circa Sports also operates in nearby states such as Iowa and Colorado.

Nevada’s Gambling Tax Reporting Limit May Soon Increase

Las Vegas Sign Green Arrow Gambling Background

For many years, gamblers in Nevada that win a certain amount of money have been required to report those earnings to the IRS. Rising inflation seems to have changed how state officials view this situation. New reports have surfaced claiming Nevada’s gambling tax reporting limit is likely to increase soon.

State officials have been discussing this move for years. Support for this decision has only intensified over the past few months.

Here’s what you need to know about this situation!

Officials Discuss Raising Nevada’s Gambling Tax Reporting Limit

Nevada has been the world’s gambling hub for many years. It’s here that many of the best casinos are currently based. Many are located in the city of Las Vegas, which regularly draws in more than 40 million tourists every single year.

Gamblers that earn over $1,200 in Nevada are legally obliged to report those earnings to the IRS. That threshold has been set in place since 1977. Officials are finally taking a closer look at this rule, arguing it is long overdue to raise Nevada’s gambling tax reporting limit.

A bipartisan bill has been introduced in the state that would raise this limit from the current $1,200 to $5,000. This bill, known as the Shifting Limits on Thresholds, is already gaining major support. Officials believe it will bring in more tourists and is far fairer when considering the rising inflation around the country. Virginia Valentine, president of the Nevada Resort Association, spoke about this new measure to the media this week.

“It’s incredibly overdue and will be a welcomed move by guests and the resort industry as it reduces paperwork and streamlines the process for certain jackpots,” Valentine said. “Any time you can make a process smoother and more efficient, it enhances the overall customer experience and increases the likelihood of a return visit.”

Both residents in Nevada and tourists will likely support this move, too. We’ll be sure to report more on the bill’s progress through the state legislative process over the next few months.

Nevada Continues Posting Impressive Revenue Figures

The casino industry in Nevada is the most profitable in the world. The casinos here struggled in 2020, yet experienced a massive bounce back in 2021. The second month of 2022 has just wrapped up and the casinos here appear to be thriving.

Reports on gambling revenue in Nevada over January have just surfaced. Many analysts expected the state to report solid earnings. Some were surprised to see just how much money the casinos in this state earned.

Nevada’s casinos earned nearly $1.1 billion in January. This marks the 11th-straight month that the state’s casinos broke the $1 billion number. It’s hugely impressive when considering January is not typically a huge month for the casino industry.

As the warmer spring and summer months approach, tourism into cities like Las Vegas will increase. This will lead to more revenue figures for the state. 2021 was the best year in history for the casino industry in Nevada and all signs point to 2022 being even better.

Nevada is not the only state to report impressive revenue gains already this year. Let’s take a quick look at how some of the other major gambling hubs around the country are faring right now.

More States Report Revenue Figures for January

A growing number of states are beginning to truly embrace various forms of gambling. State leaders are recognizing how much revenue can be earned from this industry. Both casino gambling and sports betting are helping to bring many areas of the country a huge amount of tax revenue each month.

Over in New Jersey, the casinos won a staggering $380 million. These casinos are all based in Atlantic City. New Jersey is also one of the country’s true sports betting hubs and continues to see a huge amount of money flowing in from this industry every year.

Neighboring New York recently allowed for the launch of its first online sportsbooks. In its first few weeks of operating, these sportsbooks saw more than $1 billion in bets flow in. This has resulted in New York being named the sports betting capital of the US and will likely see even more impressive revenue figures over February.

Tourism into major casino hubs is likely to increase over the next few weeks. Nevada’s gambling tax reporting limit being lowered will likely help with this. Expect to see more impressive revenue figures flowing in over the next few months.

Do you support Nevada lowering its gambling tax reporting limit? Will this help the state draw in more tourists? Let us know in the comments section below!

Nevada’s Esports Betting Options are Set to Expand

Esports Player In Red Background

The state of Nevada is constantly looking for new ways to expand its gambling industry. Lately, officials have taken a closer look at the rapidly-growing Esports betting fan base that exists in the state. One group is now pushing hard to expand Nevada’s Esports betting options this year.

2022 is already shaping up to be a very exciting year for Nevada. Now is a great time to talk about some of the ways that Esports betting could become more readily available here.

Let’s get into it!

Committee Aims to Expand Nevada’s Esports Betting Options

Nevada has been at the forefront of gambling expansion since the 1950s. This state remains the gambling capital of the world, home to some of the best casinos operating today. The majority of these world-class casinos in Las Vegas sit on the Strip.

Esports has grown consistently more popular over the last few years. Nevada has turned into somewhat of an Esports hub in recent years, too. Various state officials recognize this fact and are hearing more calls for legal and regulated Esports gambling platforms to become available in the state.

This week, an advisory committee called the Esports Technical Advisory Committee met to discuss the possibility of expanding Nevada’s Esports betting options. This group wants to better understand the pros and cons of allowing more Esports wagering options in the state. Committee Chairman Paul Hamilton spoke about this situation to the media and claims he wants to ensure that those interested in betting on Esports are protected when they do so.

“I think that’s going to take a little while, but I think the meetings probably start to evolve into commentary and discussion among the board on how do we move forward,” Hamilton said. “Do we agree with what we’re hearing and, if so, what does that actually mean? The ultimate goal is to get esports regulated and the ability to gamble on it safely… We should be at the top and doing it right and do things that make everyone proud. Most importantly, it’s for the consumer to feel safe and also for the facility (casino) to feel safe.”

There is no doubt that Esports betting is still in its infancy. Fortunately, state officials in Nevada are already looking at ways to better regulate this industry. Stay tuned for updates on the state’s growing acceptance of Esports gambling as the year goes on.

Nevada’s Latest Sports Betting Handle Broke a New Record

Nevada was, for many years, the sports betting capital of the United States. Prior to 2018, it was the only state in the country legally able to provide sports betting options. That is no longer the case, yet Nevada continues to post very impressive revenue figures from its regulated sportsbooks every month.

This past January proved to be yet another record-breaking month for the state’s sports betting industry. For the fourth month in a row, Nevada’s sports betting handle surpassed $1 billion. Just over $1.1 billion was wagered on sports online and in-person in this state.

These numbers represent a 9.3% handle increase when compared to December of 2021. They also represent a massive 71.6% increase compared to January of last year. Over 70% of all the sports wagers placed in this state were made online.

Nevada did not see the largest monthly sports betting handle in the country, though. That title belongs to New York, which saw $1.69 billion in total handle. That is an impressive achievement when considering the sportsbooks in the state were not even operating for an entire month.

There is no doubt that Nevada remains the country’s casino hub. Many companies are now working to break into this state. Now is a great time to take a look at some of the latest shake-ups with the state’s casino industry.

Casino Companies in Las Vegas Anticipate Revenue Surges

Las Vegas is home to the world’s most impressive casinos. 2021 proved to be a fantastic year for the casino industry in this city and others in Nevada. As a result, many companies have worked to break into the Las Vegas casino market in 2022.

Hard Rock International has finally secured a casino on the Las Vegas Strip. This major gaming operator agreed to purchase The Mirage from MGM Resorts for just over $1 billion. This marks the company’s first gambling property on the Strip.

Apollo Global Management has broken into Las Vegas, too. This company recently finalized its purchase of The Venetian from Las Vegas Sands. This is one of the larger casino sales to take place in Las Vegas in the past decade, yet Apollo does not plan to change the operations within The Venetian.

Most gaming analysts are expecting very impressive revenue figures in Las Vegas this year. Of course, events such as rising interest rates and a growing conflict in Europe have the potential to cause issues. We will provide more updates on how the gaming operators here are faring as the year continues.

Are you excited to hear that officials want to expand Nevada’s Esports betting options? Will this be the next big thing in the state’s gambling industry? Let us know in the comments section below.

Nevada’s Gaming Revenue Over January Surged Once Again

Las Vegas Nevada Sign Big Pile Of Money

The gambling industry in Nevada is showing no signs of slowing down anytime soon. New reports have just surfaced that indicate Nevada’s gaming revenue surged again over the month of January. Now is a great time to talk about exactly how much money the state’s gaming operators brought in over the month.

The country’s casino and sports betting industry is already thriving this year. Many states are working hard to expand their number of gambling options.

Here’s what you need to know!

Breaking Down Nevada’s Gaming Revenue Figures for January

Nevada has long been the country’s largest gambling destination. It’s here that some of the most profitable casino and sports betting companies are based. These companies struggled tremendously throughout 2020, yet saw an incredible bounce back throughout 2021.

It is now looking as if 2022 will be an even better year for the gambling industry in Nevada. Tourism into the state has already been increasing. Casinos on the Las Vegas Strip are beginning to anticipated major surges of visitors leading into the warmer spring months.

This week, we learned more about Nevada’s gaming revenue figures for January. Incredible, gambling revenue across the state surpassed $1 billion for the 11th-straight month. The Gaming Control Board released these revenue reports, showing that the casinos brought in nearly $1.1 billion in GGR, representing a more than 41% increase when compared to January of 2021.

It should come as no surprise to see the Las Vegas Strip accounts for the majority of this revenue. This area of the city reported $567.2 million in GGR. What is most incredible is the fact that these revenue figures were earned even with the lower-than-usual tourism due to the Omicron variant.

The impressive revenue figures here likely indicate that 2022 will be a great year for Nevada’s gambling industry. How will the casinos here fare when compared to in other parts of the country?

More States Release Revenue Reports for January

January tends to be a somewhat slow month for the US gambling industry. The holidays have ended and many are looking to save their money after an expensive December. Incredibly, many states are already reporting very impressive revenue gaming revenue figures for the month of January.

It’s clear that Nevada’s gaming revenue over January surged. This state experienced major increases in its casino and sports betting revenue compared to the same month a year prior. It is far from the only state to experience revenue surges, though.

New York also posted very impressive gaming revenue figures over the month. This state launched its first online sportsbooks in early January. In just their first 30 days of operating, these sportsbooks managed to generate more than $70 million in tax revenue for the state.

Pennsylvania is home to one of the largest casino industries in the Northeastern United States. This past January, the casinos here managed to bring in $393 million in total gross gaming revenue. That is more than $5 million than the previous record set last October.

Most experts are expecting to see even more impressive revenue figures over the month of February. Stay tuned for more updates on the revenue figures here over the rest of the year!

More Las Vegas Casino Sales Have Been Finalized

Las Vegas is where many of the world’s most powerful casino companies are based. That includes companies such as MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Many of these companies have been involved in major casino sales in Las Vegas over the last few years.

Las Vegas Sands has just finalized its sale of The Venetian. The company sold this famous property to Apollo Global Management for an astounding $6.5 billion. Much of the casino’s operations will remain the same, yet the new owners have hinted at upcoming renovation projects.

MGM Resorts International agreed to part ways with The Mirage recently. It sold this property for just over $1 billion to Hard Rock International. Shortly after this sale, MGM revealed it was purchasing The Cosmopolitan with the deal yet to be completed.

Several of the other major casino companies here have hinted at upcoming sales and purchases. Many gaming operators are doing their best to break into the Las Vegas casino market. All signs point to this city having its best year to date in 2022.

Nevada’s gaming revenue over January broke $1 billion once again. Do you expect these impressive revenue gains to continue over the rest of the year? Let us know in the comments section below.

Sparks’ Nugget Casino Resort Purchased by Century Casinos

Colorado-based Century Casinos will be expanding into the state of Nevada. The company announced a deal worth nearly $200 million that will allow Century to purchase the Nugget Casino Resort. The casino property is located just outside of Reno.  As part of the deal, Century will also acquire 50% of the real estate company Smooth Bourbon.

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Marnell Gaming, the current owner of the Nugget Sparks Casino and Smooth Bourbon, originally acquired the casino in 2016. As part of the deal, Century has a five-year option to purchase the remaining 50% of Smooth Bourbon.

The move into the Reno market has been in the works for a long time. Century Casinos will now have 10 different casino operations in North America, including one in Canada. The Nuggets Sparks Casino features a convention space, hotel, and multiple dining options. The casino floor has over 800 slot machines and nearly 30 table games.

Marnell Gaming Sells Casino and Part of Real Estate Company

John Ascuaga owned and operated the Nugget for decades. After acquiring the casino in the 1960s, he built the brand into one of the premier operations in Reno. Ascuaga sold the casino resort to Marnell Gaming, who took over the property in 2016. The details of the sale were not discussed at the time, but Marnell Gaming reportedly planned to invest $25 million to renovate the property. Now, Marnell Gaming is selling the casino resort to Century Casino.

There are two major assets in the deal between Marnell Gaming and Century Casinos. The first part is the sale of the Nugget Casino Resort in Nevada. Century has agreed to pay $100 million for the property. The Colorado-based company will be the third owner of the casino in less than a decade.

The second part of the deal centers on Century Casinos acquiring partial ownership of the real estate company Smooth Bourbon. Century will pay $95 million for 50% of the company. There is also a provision in the deal that gives Century a five-year option to purchase the remaining half. To so do, Century would have to pay $105 million for the second half of Smooth Bourbon.

Smooth Bourbon owns the land the Nugget Casino Resort is built on. For the time being, the company will lease the property to Century. The Colorado-based company will acquire its 50% stake in Smooth Bourbon in the second quarter of this year. Pending approval from the Nevada Gaming Commission, the sale of the Nugget Casino Resort will close in the second quarter of 2023.

Century Casinos Expands into Nevada

Officials from Century Casinos have planned to expand to Nevada for years. The purchasing of the Nugget Casino Resort adds a valuable piece to Century’s portfolio. It will be the 10th casino owned by Century in North America.

Colorado’s Century Casinos already has two gaming operations in the Mile High State. They also operate two casinos in Missouri and one in West Virginia. Outside of the US, Century owns four casinos in the Canadian province of Alberta.

The Reno market is not as fruitful as nearby Las Vegas, but it should provide Century with a foothold in the state. It is located near the Reno-Tahoe International Airport. Reno itself is becoming a popular destination for many of the top US companies, including Amazon and Tesla. The city has an unemployment rate far below the national average.

Features of the Nugget Casino Resort

The Nugget Casino Resort has undergone more than just ownership changes in the last decade. After purchasing the property, Marnell Gaming began spending millions on renovations and expansions. As part of the construction projects, Marnell gaming added a more than 8,000 seat amphitheater that opened in June 2019.

As a full-service resort, the Nugget also features 110,000 square feet of convention space. There are also two hotel towers that combined have nearly 1,400 rooms. Guests also have access to seven dining venues on-site.

The casino itself has over 50,000 square feet of gaming space. On the casino floor, bettors can choose from a selection of 859 slot machines. There are also 29 table games available. With the addition of the Nugget, Century Casinos will now operate nearly 7,000 gaming machines and almost 150 table games across North America.

Conclusion

A popular Sparks casino could soon have new ownership. Century Casinos announced that it has reached an agreement to buy the Nugget Casino Resort from Marnell Gaming. The sale is pending approval from the Nevada Gaming Commission. As part of the deal, Century will also receive a 50% ownership stake in Smooth Bourbon, a Reno real estate company.

The acquisition of the Nugget will give Century Casinos its first casino in Nevada, and 6th overall in the US. Century also operates 4 casinos in Canada. In total, the deal will cost Century just south of $200 million.

Nugget Casino Resort has been part of the Reno gaming scene for decades. Marnell Gaming has spent millions in renovations since buying the property less than a decade ago. Included in the recent expansion was the addition of a new amphitheater that opened in the summer of 2019. The casino has more than 50,000 square feet of gaming space. Meanwhile, the hotel portion of the resort offers almost 1,400 guest rooms across its two towers.

Nevada’s Sports Betting Handle Breaks Super Bowl Record

Super Bowl 56 is officially in the books and the LA Rams are world champions once again. The Rams’ good fortune extends to nearby Nevada where sportsbooks reported taking in a record number of wagers. According to the unofficial numbers, sports betting operators in the Silver State generated a sports betting handle of nearly $180 million.

The Super Bowl betting handle was up more than 15% from last year. It is also a new record, breaking the previous mark set in 2018. Based on the reported handle, sportsbooks are expected to get over $15 million in revenue.

There are many factors that led to Sunday’s record numbers. The addition of mobile betting options allowed greater access to wagering opportunities. Las Vegas casinos also lifted pandemic restrictions in the lead-up to the Super Bowl which allowed more people to bet in person.

A Closer Look at Nevada’s Super Bowl Betting Numbers

The NFL is one of the most bet sports in the US, and the Super Bowl is always a huge game for sportsbooks. This year’s numbers were especially high for sports betting operators in Nevada. Initial reports put the sports betting handle from the Super Bowl at $179.8 million.

If the numbers are correct, the nearly $180 million betting handle will be 16.2% higher than the betting handle from Super Bowl 55. Sunday’s betting handle was nearly $44 million higher than last year’s. It would also be 13.4% more than the state record set in 2018.

A record betting handle would produce a significant amount of revenue for Nevada’s sportsbooks. Based on the initial reports, sports betting operations could expect up to $15.4 million in revenue. Nevada had a record-setting end to 2021. The projected revenue from the Super Bowl would be a good start to continuing that success in 2022.

Why Did the Betting Handle Increase?

Like many states across the US, Nevada has experienced a steady increase in both betting handle and betting revenue in recent years. The pandemic reduced betting traffic in 2020. However, most states have been able to bounce back to pre-Covid numbers.

One of the biggest factors contributing to the growth of sports betting has been the growing popularity of mobile betting options. In Nevada, bettors must register in person prior to wagering on their mobile accounts. Mobile betting offered players more chances to take advantage of in-game prop bets.

The return to a “normal” betting environment at casinos also helped. Pandemic restrictions were lifted, allowing more people to access retail sportsbooks. At Caesars’ strip locations, for instance, retail counters sold out all of their available tickets for the game.

Since 2018, states have been able to make their own laws regarding sports betting. As more states have legalized sports gambling, it has become more normalized in American society. According to sports betting operators, the growing interest in sports betting created an increase in “small” tickets for the Super Bowl.

Conclusion

The longest NFL season in history officially ended on Sunday as the LA Rams won Super Bowl 56. Super Bowl Sunday is always a big day for Nevada’s sportsbooks, but this year’s game was especially productive.

According to initial reports, bettors in Nevada place a record number of wagers. Nevada’s sports betting handle reportedly set a new record with nearly $180 million in wagers placed.

Sportsbooks in the Silver State benefitted from lessened pandemic restrictions at their retail locations. The growing popularity of mobile betting also helped add to the record total. Sports betting is increasingly popular in the US, which some experts say led to an increase in “small” tickets for the big game.

2021 was a record-setting year for Nevada’s licensed gaming operators. Breaking the state record for Super Bowl betting is a great way to start off 2022. Nevada’s sportsbooks are projected to earn $15.4 million in revenue from Sunday’s game.

Nevada’s December Sports Betting Revenue Plummets Despite $1 Billion Handle

Nevada wrapped up a recording-breaking 2021 with a rocky finish in the month of December. Many of the state’s gaming industries metrics, such as GGR and betting handle, set new records monthly and yearly records in 2021. However, December’s sports betting revenue plummeted after an exceptional performance in November.

Sports betting handle in the Silver State totaled $1.015 billion in December. It marked the third consecutive mark that the handle has exceeded a billion dollars. Nevada is second only to New Jersey for the highest sports betting handle of any US state. Despite the success, the handle actually decreased over six percent from the previous month. A large part of the handle was made up of wagers from mobile bettors.

Total gaming revenue also remained steady. For the 10th month in a row total gaming revenue topped $1 billion. The sustained success throughout 2021 was good news for Nevada’s gaming industry as it battled back from the pandemic. Now, gaming operators will look to continue their success with a hot start in 2022.

One area that significantly decreased was sports betting revenue. In November, Nevada gaming sports betting operators generated nearly $72 million in sports betting revenue. Last month, that total fell all the way to under $16 million. In total, sports betting revenue decreased nearly 78% from November to December.

Nevada Sports Betting Handle Tops $1 Billion Again

Gaming operators in Nevada reached a combined sports betting handle of $1.1 billion in October of 2021. That mark would prove to be the highest sports betting handle of the year. However, operators did exceed one billion dollars in sports betting handle in both November and December.

Nevada’s sports betting handle in December 2021 was just over $1.01 billion, according to the Nevada Gaming Control Board (NGCB). That total is down 6.5% from the $1.08 billion sports betting handle in November. However, December’s handle is still far and away better than it was at the same point the year before. Compared to December of 2020, the sports betting handle increased by 72.5%.

The majority of the sports betting handle appears to be generated from mobile betting platforms. According to the latest NGCB report, mobile betting accounted for $765 million of the handle. That works out to roughly 75.4% of the sports betting handle coming from mobile bettors. Unfortunately, the mobile betting handle also decreased from the previous month. In November, Nevada’s sportsbooks generated over $777 million in mobile betting handle.

Despite the slight decrease, mobile sportsbooks should still be optimistic about what 2022 will bring. So far, Nevada’s betting handle has been the second-largest of any US state. Even with New York legalizing mobile sports betting earlier this month, Nevada figures to be competing for one of the top spots. Nevada legislators approved remote registration options for certain types of gambling earlier this month. If regulators do the same for sports betting, it could provide a major boost to the betting handle.

Total Gaming Revenue Also Remains Steady

Nevada’s sports betting handle remained above the billion-dollar threshold, and so did its total gaming revenue. The Silver State pulled in a total of $1.15 billion in gaming revenue last month. That made December the 10th consecutive month of over $1 billion in monthly gaming revenue.

According to the NGCB report, over $650 million of the total gaming revenue was generated by the Las Vegas Strip. Clark County as a whole accounted for $998 million of the state’s total revenue. The total gaming revenue remained north of $1 billion, but it still decreased from the November total. In November, total gaming revenue was reportedly $1.32 billion.

Gaming revenue decreased from November, but it is still sky high when compared to December of 2020. Last month’s total was 68.23% higher than the previous year’s mark. The Las Vegas Strip experienced the biggest bounce-back of any market, with a total increase of over 120% from December 2020.

Why Did Sports Betting Revenue Fall Off?

Both total gaming revenue and sports betting handle experienced a slight drop-off in December. However, Nevada gaming operators pulled in over $1 billion dollars in both categories. Sports betting revenue on the other hand fell off dramatically from the November total.

According to the NGCB report, Nevada’s sportsbook brought in $15.96 million in sports betting revenue. That is a decrease of 77.8% from the $71.97 million generated in November. The difference in revenue is undeniable, but it may not be as dramatic as it appears.

November’s sports betting revenue was unusually high. The nearly $72 million generated was an increase of almost 50% from October. December’s decline in revenue can largely be attributed to a regression to the mean.

A regression to its average monthly total accounts for much the difference. However, even by its own standards, Nevada sportsbooks had a bad month against bettors. A month where the bettors won more often compared to a month when the sportsbooks were king creates a shocking difference. The December total was the lowest in Nevada since August before the NFL regular season kicked off.

Conclusion

A record-breaking 2021 by Nevada’s gaming industry wrapped up somewhat anticlimactically. Nevada’s sports betting handle and total gaming revenue each eclipsed $1 billion once again. However, both totals came in under the revenue totals from November. Nevada’s sports betting revenue was hit especially hard, decreasing over 75% from the previous month.

Nevada’s gaming regulators have taken proactive steps to improve their gaming numbers. Earlier this month they approved the use of remote registration for cashless gaming. The process does not extend to sports betting as of yet. However, if that changes in the future then sportsbooks could see a jump in players. Even with needing to register in person, sports betting operators have generated over $82 million in taxes for the state since June 2018.

Despite the bad month in sports betting revenue, Nevada’s sportsbooks should be set up for a strong performance in 2022. The billion-dollar totals for sports betting handle and total gaming revenue are second only to New Jersey. New York seems fit to compete with Nevada eventually, but it only has a handful of sportsbooks operating after its launch earlier this month.

Nevada Approves Remote Registration for Cashless Gambling

Nevada is home to one of the biggest betting gaming industries in the US. This week, betting in the Silver State became even more convenient. The Nevada Gaming Commission approved the use of remote registration and funding options for gambling accounts. This means that bettors can now use their smartphones or desktops to set up gaming accounts. They can also place money onto their accounts before they go to one of the many Las Vegas casinos.

A cashless system debuted last year at the Resort World Las Vegas casino. However, bettors were not able to use the system to its fullest extent. With the new rules, customers will be able to enjoy a more convenient betting experience. The system used by Resort World Las Vegas was developed by Sightline Payments.

In addition to the approval of remote registration and deposits, Nevada also approved International Gaming Technology’s (IGT) Resort Wallet. IGT’s Resort Wallet gives bettors another option for remote depositing their gaming funds. Resort Wallet is a module of the IGT ADVANTAGE casino management system.

Despite the approval of remote registration options for most gambling types, it is still not allowed for sports betting. For now, regulators are continuing to protect casinos’ investments in their physical betting locations. Remote registration options could reduce the number of bettors that use in-person sites.

Why Was Approval Delayed?

Sightline Payments launched its remote registration system last July, but bettors could only use it in a limited capacity. Players could manage their funds from the app, but they had to deposit funds using in-person options.

Now with the new regulations, players can use the system to its full capabilities. The cashless system should allow for a more convenient betting experience. As casinos continue to bounce back from losses caused by the pandemic, a more convenient experience could attract new bettors.

A remote registration app launched last summer, so why did it take so long to be approved? One of the biggest reasons behind the delay was a concern for player safety. Nevada officials wanted to be sure that the technology had sufficient ID and security protocols. Once the NGC was sufficiently convinced that the necessary protocols were built into the app, it was approved.

Officials also wanted to make sure that the remote cashless registration app did not violate any federal laws. Specifically, official swerve concerned about federal money laundering laws. According to the Nevada State Attorney General’s office, remote registration technology does not violate federal legislation. With their concerns addressed, the NGC had no reason not to approve the technology.

Nevada Also Approved IGT Resort Wallet

Sightline Payments’ app was not the only one approved by the NGC. The regulatory body also approved the IGT Resort Wallet. According to IGT, their Resort Wallet will eliminate the need for players to cash, ATMs, kiosks, or casino cages. In order to access it, players must be IGT Advantage users.

The advent of cashless payment options does more than just create a more convenient experience for players. It also makes gambling safer for players as they do not need to carry cash with them. The app is pin protected to help keep users’ information safe.

On the casino’s side, apps such as IGT Resort Wallet can provide some benefits as well. IGT boasts that its technology can adapt to the needs of the casino, while also increasing cash liquidity on the gaming floor.

Approving IGT Resort Wallet was the natural next step for the NGC. IGT has been one of the leading developers of gaming technology in recent years. Resort Wallet was awarded the “Product Innovation of the Year” award in October at the Global Gaming Awards in Las Vegas. IGT also received the “Technology Prover of the Year” award at the International Gaming Awards last September. IGT won the award as a result of its Resort Wallet and IGTPay.

Remote Registration Not Approve for Sports Betting

Nevada took a big step forward by approving the use of remote registration and depositing options for casino games. However, the NGC did not approve the use of remote registration for sports betting. Nevada is not the only state that prevents remote registration for sportsbooks. Other states, such as New Jersey and Illinois, also prevent it.

Perhaps the biggest reason the NGC did not approve remote registration for sports betting is that it would hurt business at in-person sportsbooks. The casinos in Nevada have collectively spent billions of dollars to create sports betting lounges for players. By requiring in-person registration, they guarantee players will need to use the sportsbooks lounges.

These sports betting resorts rely on players being physically present to make their profit. If bettors did not need to go to the lounges in-person to register, it could severely reduce the amount of traffic, and profit, they experience.

Despite the need for in-person registration, Nevada and other states have still put up record sports betting numbers. Nevada’s sports betting handle topped the $1 billion mark multiple times last year. States with similar restrictions, like NJ, have also been able to overcome them and produce massive sports betting revenues.

Conclusion

One of the biggest gambling markets in the world just got a major boost. The NGC approved the use of remote registration for cashless gambling at casinos. Now, it will be easier for bettors to be able to use cashless payment apps at casinos in Nevada. One such app was released by Sightline Payments at the World Resort Las Vegas casino last July.

Remote registration offers bettors the option to create and fund their gaming account from anywhere. The convenience of doing so from one’s mobile phone or desktop computer is unmatched. It is also safer for players, as they do not need to carry cash with them to the casino. The casino also benefits from a higher level of liquidity.

The NGC also approved IGT Resort Wallet to operate in Nevada. IGT is a leader in making innovating gaming technology. The award-winning Resort Wallet will provide casinos and bettors with another choice for remote registration.

Nevada officials approved remote registration for casino games, but not sports betting. The NGC will continue to require in-person registration at sportsbooks. This move was not unexpected. It ensures that player traffic at physical sports betting sites will not be impacted. Many casinos have heavily invested in their sports betting lounges and allowing online alternatives would greatly affect their profits.

Casinos in Lake Tahoe Face Closures Due to the Caldor Fire

Lake Tahoe Casinos

For the past couple of weeks, a fire in Northern California has been steadily growing, working its way toward the Lake Tahoe basin. It is now closer than ever to the Tahoe area, prompting evacuations by local residents. New reports claim the casinos in Lake Tahoe are ordering closures due to this fire, as well.

There is real concern about the damage this fire could cause. It’s clearly having a major impact on the tourism and gaming industry in Lake Tahoe.

Here’s what you need to know about this situation.

Caldor Fire Forces Casinos in Lake Tahoe to Close

California is no stranger to devastating wildfires. It seems as if each summer brings massive fires throughout the state. It’s proving to be extremely complicated for state officials and devastating for a huge number of residents and businesses.

The Caldor Fire began in mid-August in Eldorado County in Northern California. It has been steadily growing, fueled by abundant forests, strong winds, and dry conditions. This fire has now burned more than 177,000 acres and is only 15% contained.

In recent days, this fire has been working its way toward South Lake Tahoe, one of the most popular tourist destinations in California. Its fast spread has forced a huge number of evacuations in this area. Four of the casinos in Lake Tahoe have also just announced they are closing portions of their gaming floor due to the fire.

Many of these employees at these properties have been forced to evacuate recently. Harrah’s and Harveys Lake Tahoe, as well as Hard Rock Lake Tahoe and Montbleu Casino Resort, have also shut down more of their operations. It is currently unclear when exactly these properties will reopen to the public.

Things are certainly dire in the Lake Tahoe area. Hope is that firefighters find success containing this fire over the course of the week. Stay tuned for updates on how this affects the casino industry in Lake Tahoe over the next few days!

Nevada’s Casino Industry Continues to Thrive

Lake Tahoe lies on the border of California and Nevada. The casinos here lie on the Nevada side and are owned and operated by some of Nevada’s biggest gambling operators. These properties are very popular and help to bring these companies major revenue each and every year.

The casinos in Lake Tahoe are suffering right now. Overall, however, the casino industry in Nevada is thriving. The state recently reported a record-breaking gambling revenue figure this past July. Much of that is due to the huge surges of tourism into Las Vegas.

$794 million in gaming revenue was earned in Las Vegas alone. That greatly surpassed the previous revenue record set in May, at $696.1 million. It also represents a 49% increase when compared to July of 2019.

Many analysts expect these impressive revenue figures to continue for the rest of the year. Tourism rates continue to increase in major casino hubs such as Las Vegas. The start of the upcoming NFL season is expected to bring a major increase in sports betting revenue for the state, as well.

Other US casino hubs are seeing solid revenue figures right now, too. Now is a great time to look at how much money some of the casinos in these areas have been bringing in.

More States Report Surges in Casino Revenue Over July

Nevada is far from the only major casino hub to experience a surge of gambling revenue over the month of July. In fact, this is proving to be one of the best months in history for this entire industry. Casino companies around the US have reported massive jumps in their monthly revenue figures.

Over in Massachusetts, casino revenue came out to $95.7 million in revenue. The Encore Boston Harbor managed to bring in the most amount of money at $59 million. MGM Springfield ended up having its best month in years, bringing in $23.7 million. The Plainridge Park Casino came in third place at $12.9 million in GGR.

Pennsylvania is quickly developing one of the largest casino industries in the United States. This past July, the casinos here managed to bring in $423.6 million in total gross gaming revenue. That is nearly $35 million more than what was earned the month prior.

Gaming analysts predict an even better month in August for all US casino companies. Things remain on track for a record-breaking year for this industry. We’ll be sure to offer more updates on casino revenue figures for August as more reports begin to surface.

Are you surprised to hear the casinos in Lake Tahoe are closing? Let us know in the comments section below.

More Casinos Push Against Allowing Online Gambling in Nevada

Online Gambling in Nevada

Nevada is home to more casinos than anywhere else in the United States. Recently, many of these casinos have pushed against a controversial new plan being discussed in the state. Now is the perfect time to talk about why these casinos do not want to see legal online gambling in Nevada become available.

Lawmakers seem very interested to expand the number of gaming options available in this state. That could come at the expense of land-based casinos.

Here’s what you need to know!

Lawmakers Continue Looking into Allowing Online Gambling in Nevada

The state of Nevada has been the country’s largest gambling hub since the 1950s. It’s here that many of the most expensive casino-resorts on the planet are located. Last year, these casinos were shut down for months at a time and gambling revenue in the state plummeted.

This seemed to have inspired officials in the state to look into alternative sources of revenue. The Nevada Gaming Control Board will soon meet to discuss whether or not to allow online gambling here. A huge number of gambling fans have supported this move, particularly those not located near any casinos.

Places like New Jersey and Pennsylvania already allow all forms of online gambling. These states bring in a massive amount of tax revenue, as a result. Officials in Nevada now seem to want a piece of that action, as well.

Nevada’s Control Board has not announced when exactly this meeting will take place. It was originally scheduled for May, yet was pushed back indefinitely. It seems likely that this discussion will take place before the end of the year. It seems that not everyone is excited to hear about this meeting.

Major Casino Companies Push Against NV’s Online Gambling Plans

Many gaming analysts have been surprised to see Nevada pushing to allow online gambling. It’s here that many of the most popular casino-resorts are located. These companies have long argued that Nevada does not need internet gambling options.

This week, 28 executives representing 26 different gaming companies all signed a letter pushing against online gambling in Nevada. These officials, including Frank Fertitta III, Michael Gaughen, and Kenny Epstein, believe that this will end up hurting their business. Online gambling will make less interested in visiting local casinos, they argue.

“Reduced jobs in physical gaming locations will hinder the enormous efforts the gaming industry and Nevada are making to recover from the pandemic and hurt the long-term economic growth of our state,” the letter claims.

Many of the top gaming executives in Nevada think these plans need to be second thought. Of course, the decision ultimately comes down to the NV Gaming Board. If this state government body wants online gambling, it will ultimately become available. Stay tuned for updates on this situation over the next few weeks!

Tourism Rates in Las Vegas are Still Increasing

Las Vegas has been the country’s biggest gambling hub for many years. This city has recovered massively from the events of 2020. The casinos here have been reporting massive increases in their tourism and gaming revenue figures over the past eight months.

Fortunately, this trend is continuing. Reports surfaced recently that showed that NV’s gaming revenue surpassed the $1 billion mark for the fourth-straight month last July. It’s clear that people across the country still want to visit and have fun in Sin City.

If things stay on track, this will be the most successful year in history for Las Vegas’ casino industry. Some fear that the rapidly spreading Delta variant could upend those plans. For now, it does not appear to be taking a major toll on tourism.

Do you expect to see online gambling in Nevada anytime soon? Is this fair for the land-based casino operators here? Let us know in the comments section below!