Casino Winnings in Nevada Took a Dive in December

Las Vegas City

Nevada’s casino industry has been doing everything it can to draw in visitors from around the country. Tourism remains low here, however, and many of the casinos are struggling to bring in revenue. New reports shed light on the casino winnings in Nevada earned during the month of December.

Things are clearly still difficult for major casino hubs around the US. It’s difficult to say when things will completely return to normal. Today, we’ll take a look at how much money the casinos in Las Vegas managed to bring in last December.

Let’s get into it!

Casino Owners Hope Vaccines Boost Tourism in Las Vegas

It has been almost a year since the casinos in Las Vegas first shut down to the public. It was an unprecedented moment for the city. The tourism industry here came to a screeching halt and casino owners were left in the dark of when the city would reopen.

Nevada’s casinos began to reopen in June. Over the summer, tourism into the city slowly began to increase. Numbers remained far below what was seen in 2019, yet casinos were happy to see an influx of visitors.

As the colder months approached, tourism rates dropped once again. Health experts began warning against any unnecessary travel. Due to the drop in visitors here, many of the casinos in Las Vegas were forced to close during weekdays.

There is reason to be optimistic. Many analysts believe that with effective vaccine distribution, places like Las Vegas could begin seeing a surge of new visitors. There are high hopes that leisure travel will begin to surge again by the time summer rolls around.

It’s a fascinating time for this city. Several massive new casino-resorts are scheduled to open in Las Vegas over the next eleven months. All of the casino operators are hopeful that things begin to turn around over the next several months.

For now, Las Vegas is still struggling. December proved to be a very rough month for the casinos here. We’re now seeing exactly how much money was brought in.

Casino Winnings in Nevada Dropped by 35% in December

Casinos around the country saw double-digit revenue drops throughout most of 2020. As winter approached, revenue earnings dropped considerably. This week, the reports on casino revenue in Nevada during December finally came out.

These reports confirm that Nevada saw an astounding 35.35% drop in GGR during December. All of the casinos throughout the state brought in just $683.7 million over the month. It’s a significant drop from the more than $1 billion earned the same month a year prior.

The Las Vegas Strip recorded the biggest loss of nearly 50% in year-on-year revenue. This area of the city is home to the biggest and most-expensive casinos in the state. Unfortunately, the Strip brought in just $292 million during December.

Casino winnings in Nevada are still low. Every single part of the state saw a significant drop in earnings last month. Based on the state of the country, many analysts expect revenue earnings to be even lower for the month of January.

Las Vegas isn’t the only casino hub to see a significant dip in revenue. Every city that is home to a casino industry is hurting right now. That includes several popular gambling destinations on the East Coast.

Atlantic City is facing many of the same issues that Las Vegas is. Fortunately, this city is still seeing money come in from its profitable sports betting industry.

Atlantic City’s Sports Betting Industry Continues to Surge

Since May of 2018, the US sports betting industry has grown exponentially. More than half the country now has a regulated sports betting up and running. That includes New Jersey, which continues to see huge revenue earnings from its sports betting options.

Here, both land-based and online sports betting is perfectly legal. In 2020, the online sports gambling options here saw a major increase in popularity. New Jersey saw its all-time sports betting handle record broken on several occasions throughout the year.

Revenue from this industry continues to surge. It comes at a great time. The casinos in Atlantic City are still struggling to bring in players right now. Fortunately, these casinos are still managing to bring in money via sports gambling.

The gambling industry in Atlantic City is about to get some more competition. Soon, a new casino-resort will be opening its doors in Philadelphia. That of course is the Live! Casino & Hotel Philadelphia.

It will be interesting to see if this new PA gambling venue takes away from Atlantic City’s gambling revenue. Many are also curious to see if this property manages to see large revenue increases.

Are you surprised to see where casino winnings in Nevada stand in December? When do you expect things to improve here? Let us know in the comments section below!

The Silver Legacy Resort in Reno is Set for a Major Upgrade

Reno Nevada

Caesars Entertainment has been busy over the past few years. This massive casino company is working hard to renovate some of its most popular gambling venues. New reports claim that the Silver Legacy Resorts in Reno, owned by Caesars, is set for a major upgrade in the near future.

It’s great news for residents and tourists with trips planned to Reno. Today, we’ll talk about what is being planned for this property. We’ll also look at some of the other plans for Nevada in the future.

Here’s what we know!

Caesars Entertainment Continues Working to Expand

The past ten months have been extraordinarily difficult for major US casino companies. Despite that fact, Caesars Entertainment has been working extremely hard to expand its operations. It seemed to begin after the company’s huge merger with Eldorado Resorts.

This was one of the biggest moves for the US casino industry in history. Eldorado paid an astounding $17.3 billion to acquire this company. That makes it the largest casino company purchase to ever take place in the country.

In order to push this deal forward, Caesars and Eldorado were forced to sell many of their casinos around the country. That includes several in Atlantic City. The money earned from these sales helped the newly-merged company cover costs associated with the deal.

Officials within Caesars haven’t slowed down since this merger. Last year, news broke that the company had agreed to purchase William Hill. This gives Caesars a massive new hold over the US sports betting industry.

Caesars has always been a huge player in the US casino industry. It’s quickly becoming one of the most powerful gambling companies in the world now. Many expect more major deals to be announced with this company over the next few years.

As many know, Caesars Entertainment owns a major gaming property in Reno. It now appears the company is planning a major renovation for this venue.

A Renovation is Being Planned for the Silver Legacy Resort in Reno

Reno is a popular gambling and tourist destination in northern Nevada. It’s a fun city filled with several world-class gambling venues. Like other US casino hubs, Reno has been facing a steep decrease in tourism and revenue throughout the past year.

Some feel that things are set to improve here soon, though. Several analysts claim that with effective vaccine distribution, Reno could quickly see a steep increase in its tourism numbers. That’s great news for the casino companies operating here.

You can add Caesars Entertainment to that list. This company operates the Silver Legacy Resort in Reno, which first opened its doors in 1995. This week, Caesars announced that it is planning an astounding $47 million renovation for this venue.

Silver Legacy Regional President and General Manager Glenn Carano spoke to the media about the company’s plans this week.

“We want to give guests a visit to remember when they stay with us at Silver Legacy,” he said. “Part of that memorable experience includes one of the most important elements to a trip: the hotel accommodations.”

Caesars wouldn’t be making this move unless they felt it would be profitable. It’s clear that the company feels that Reno will soon begin seeing a large increase in visitors. Some of the expected renovations for Silver Legacy Resort can be seen below.

  • Installing new hardwood furniture.
  • Updated window treatments and drapery.
  • Renovations of the bathrooms with new tile.
  • Replacing the carpets and flooring.
  • Installing new art and decor pieces.
  • Self-serve coffee makers, updated lounge seating and flat-screen, high-definition televisions.

This renovation process should be completed sometime in the near future. We’ll continue offering updates over the next few months!

When Will Tourism Rates Begin to Increase in Las Vegas

There has been a huge amount of attention placed on the Las Vegas economy over the past year. 2020 proved to be devastating for this city. That’s almost entirely due to the significant drop in tourism here.

Casinos are doing everything they can to boost the city’s tourism rates. It’s much easier said than done, though. Many are now cautiously optimistic that the city will finally begin seeing large numbers of tourists coming later this year.

Much like Reno, Las Vegas is relying on vaccines to help with things. It seems likely that this would help the entire country’s travel industry. Anything is possible, however, and casino owners are now getting ahead of themselves.

In the past, Las Vegas saw approximately 40 million visitors every single year. Will 2021 bring about those kinds of numbers? Probably not.

If everything goes according to plan, we could begin seeing a major improvement by the time summer rolls around. This is generally the most popular time for visitors to enter the city. Hopefully, we see that trend begin around this time.

Are you excited to see the renovations at the Silver Legacy Resort in Reno? Let us know in the comments section below!

The Raiders Restaurant at M Resort Las Vegas is About to Open!

Las Vegas Raiders

In January of this year, news broke that the Raiders had officially completed their relocation to Las Vegas. It was a historic moment for the city and many casino companies here are now embracing the team’s introduction to the city. New reports claim that the Raiders restaurant at M Resort is about to finally open!

Everyone is excited to see this happen. M Resort is one of the most popular casino-resorts in Nevada. Today, we’re going to talk about what we know about this resort’s exciting new eatery.

Las Vegas Casinos Continue to Struggle With Low Tourism Numbers

For months, our analysts have been reporting on the economic situation in Las Vegas. 2020 has proven to be the hardest year for this city in history. Never before have the casinos here been forced to deal with such low tourism figures.

The casinos in this city reopened to the public back in June. Tourism numbers slowly began to increase here over the summer, yet remained far lower than what was seen in 2019. As the fall months approached, Las Vegas saw its tourism numbers decrease once again.

This isn’t any real surprise. Health experts are now warning all Americans against travel. Some states have even set intense travel restrictions in place that force quarantine. Most people are unwilling to visit a city such as Las Vegas in the situation the country finds itself in.

Casinos in this city are struggling with these drops in tourism. Most of them have seen massive drops in their revenue throughout the year. Unfortunately, it’s beginning to look as if Nevada’s leaders could force casinos to implement even tougher regulations in the near future.

The Raiders’ move into Las Vegas was expected to boost tourism into this city. This simply hasn’t been possible in 2020. Businesses here are still helping to promote the Raiders team and the hope is that 2021 finally brings a sense of normalcy.

Visitors are likely to see the Raiders’ presence around Las Vegas. Soon, a complete Raiders-themed restaurant will finally open its doors here.

Here’s What We Know About the Raiders Restaurant at M Resort Las Vegas

Just about everyone in Las Vegas is excited to see an official NFL team make their move into the city. Interestingly, there haven’t been any restaurants with a full Raiders theme open their doors here yet. That is about to change, though!

New reports from the Las Vegas Review-Journal claim that the Raiders restaurant at M Resort is set to open its doors early next year. It’s expected to be a massive hit with football fans in the city. We’re now beginning to hear some of the details of this new eatery.

This 8,000 square foot restaurant will be featured just off the casino floor at M Resort. It’s set to include several different bars, a massive number of television screens, and a large outdoor dining area for guests. As you might expect, the entire restaurant will be filled with Raiders memorabilia.

To make things even better, this restaurant is expected to be a local spot for many of the Raiders’ top players. Marc Badain, President of the Raiders, spoke about this situation to the media this week.

“The M Hotel has been our home away from home,” he said. “Our players will have a chance to come here… A good chunk of our organizations live within four or five miles of this location.” 

For hardcore football fans, this might be one of the coolest new restaurants in the city. We’ll be sure to offer more updates on this venue over the next couple of weeks!

Odds on This Weekend’s NFL Games Are Still Available Online

Travel into Las Vegas has been difficult this year, to say the least. Most fans of Sin City are holding out hope that things improve as 2021 carries on. Many analysts are predicting a major surge of tourism into the city when things are finally under control.

Being stuck at home doesn’t mean you can’t enjoy placing some wagers, though. There are several fantastic online sportsbooks available in nearly every state around the country. One of our favorites is Bovada, known for its safe payment options and great odds.

Bovada is offering its members the option to wager on every single NFL game of the season. That includes the games taking place this Sunday. Several of these games are offering bettors some major opportunities to cash out.

The upcoming game between the Chicago Bears (+135) and Minnesota Vikings (-155) is drawing in a large number of wagers right now. Both NFC North teams enter the game with identical records. It probably won’t have many implications in the long run, but it should be an exciting game.

Sunday’s match between the New England Patriots (+105) and Miami Dolphins (-125) is also an interesting one. The two AFC East teams are known for having an intense rivalry. A win is crucial for both team’s hopes of making it into the playoffs this season.

There’s a lot happening in Nevada right now. Soon, we’ll get to see the Raiders restaurant at M Resort Las Vegas open its doors. Let us know what you think about this new eatery in the comments section below!

Las Vegas Room Rates Are Still Down From Last Year

Las Vegas Strip View

This year’s New Year’s Eve will be different for most people than almost any other in the past. Health experts are warning against travel, yet many are still expected to make the trip to popular tourist destinations to celebrate. New reports shed light on how Las Vegas room rates stand right now.

As you might expect, rates in the city are going for considerably less than they were in 2019. That’s good news for potential travelers. The casino companies here, however, are feeling the effects of this drop in revenue.

Let’s take a look at where things stand here!

Tourism Rates in Las Vegas Have City Officials Concerned

Las Vegas is one of the world’s most popular tourist destinations. Prior to 2020, “Sin City” saw nearly 42 million visitors annually. Revenue was surging here and several massive new casino-resorts have been under construction.

The events that unfolded this year have taken an almost incomprehensible impact on this city. Even today, with most casinos open, Las Vegas is seeing major drops in its tourism rates. This seems to be getting worse as the winter months continue.

In October, Las Vegas saw just 1.9 million visitors. That represents an increase from the month of September. Unfortunately, it’s only half of what was seen in October of 2019.

Casino companies here are doing everything they can to attract more visitors. With travel restrictions set in place throughout the country and an increasing number of Covid-19 infections, this hasn’t been easy. Several of the biggest hotel-casinos here have recently begun shutting down during the week as a way to save money.

Officials in Las Vegas recognize how difficult this situation is. Setting more intense regulations could help to protect Clark County’s health care system. At the same time, it could lead to an even larger drop in tourism and revenue.

The holidays tend to be big tourism dates for Las Vegas. Will the holiday season in 2020 be any different?

Here’s a Look at Where Las Vegas Room Rates Stand Right Now

Google searches for “travel” have been at an all-time high throughout the year. Many have been stuck at home for months at a time with limited contact with friends and family. Everyone seems to be dreaming of the time when they can take a real vacation again.

Some are choosing to take their trips right now. Las Vegas continues to see millions of visitors per month, despite the warnings from the country’s health officials. The pandemic seems to be at its worst right now and there are doubts on whether or not the upcoming holidays will result in a major spike in tourism.

Potential travelers will find that room rates in Las Vegas are down from 2019. Even over New Year’s, rooms can be booked at prices that haven’t been seen in years. A new report from the Las Vegas Convention and Visitors Authority sheds light on how far rates have dropped.

Over New Year’s Eve, a room at the Aria can be booked for $399. The Cosmopolitan, known as one of the most expensive venues in Las Vegas, is offering rooms for $500. The brand new Circa Casino-Resort in Downtown Las Vegas is offering New Year’s rooms for $315.

These prices are relatively high for most individuals. Things are still significantly cheaper here over the holidays than in the past. It will be interesting to see if the drop in prices helps to bring in more tourists.

There is reason to be optimistic for the future of Las Vegas. One prominent analyst expects the casino industry here to see a massive recovery in 2021.

Jim Cramer Expects Casino Industry to Recover in 2021

The US casino industry had its worst-ever year in 2020. All of the country’s casinos were shut down for months. After finally reopening, most of the gambling venues here struggled immensely to attract players.

This situation isn’t expected to last forever. In fact, CNBC’s Jim Cramer expects to see a massive recovery for this industry next year. He claims that mass vaccinations will result in a huge increase in tourism to cities such as Las Vegas.

“Once enough people are vaccinated … the economy goes back to normal, travel resumes and people start gambling in person again,” Cramer told his viewers. “That’s why the casinos should have a huge year in 2021.”

Cramer isn’t alone in holding that theory. Many analysts predict that as the pandemic slows down, travel and gambling will begin to surge. That could offer investors an exciting opportunity to capitalize on this industry.

Those who plan to travel this year, regardless of the risk, will find Las Vegas room rates lower than they have been in years. If Jim Cramer is correct in his assessment, this could be the lowest we see room rates in this city ever again.

Do you plan to visit Las Vegas over the holidays? Which hotel do you plan to stay in? Let us know in the comments section below!

A New Casino in Henderson is Being Discussed Right Now

Henderson Nevada Logo

Nevada is home to many of the biggest and best casino-resorts on the planet. The majority of them are located in Clark County. This week, reports surfaced claiming a new casino in Henderson is being discussed by several groups.

It’s exciting news for many Nevada residents to hear. Henderson is home to more than 300,000 individuals. Many would love to see a brand new casino-resort open its doors in this city.

Today, we’ll talk about what is currently being discussed.

Nevada’s Casinos Struggle With Drop in Gamblers

Much of Nevada’s economy relies on the gaming industry. It’s been that way for decades and has proven to be a fantastic way for the state to bring in money. Unfortunately, the US land-based casino industry has been hurting badly for almost all of 2020.

Nearly all major US casinos shut their doors to the public back in March. Different states began allowing their gaming venues to open at different times. Nevada waited until June to start allowing casino-resorts to accept guests again.

SImply reopening casinos didn’t end up turning things around. Most people around the country were still hesitant to make the trip to a major gambling destination. Travel restrictions also made this extremely difficult for many individuals.

Over the summer, tourism rates in Nevada began to increase. As the colder months approached, this trend began to change. Tourism is now much lower here than it was in 2019 and casinos are feeling the effects.

Many of the major casinos here, including The Palazzo, recently announced they are closing down during the week. The owners of these venues claim there aren’t enough visitors to remain open. It’s a concerning trend that doesn’t seem to be slowing down anytime soon.

This doesn’t mean new casinos won’t ever open their doors here. Some are now interested in opening a new gambling venue in the city of Henderson.

Marnell Gaming is Interested in Booking a New Casino in Henderson

Henderson, Nevada sites directly next to Las Vegas. It’s the second-largest city in the state and is home to a huge number of Nevada residents. As many know, there are some fantastic casinos operating in this area.

It now appears that a new gaming venue could soon open its doors here. Reports have surfaced this week that claim Marnell Gaming is interested in opening a new casino in Henderson. This company believes Henderson is now in need of a brand new casino-resort.

Marnell Gaming is known for operating The Nugget Casino-Resort near Reno. The company took over this property in 2016. Officials within Marnell Gaming are now focused in expanding into Clark County.

Many of the residents in Henderson have been calling for a Las Vegas Strip-style casino-resort. It now appears this could be coming in the next few years. Interestingly, Marnell Gaming isn’t the only company focused on expanding in this area.

Not long ago, news came out that a Henderson-based company called Ochoa Development Corporation recently purchased a 12-acre plot of land on Paradise Road in Las Vegas. This company may soon choose to develop this land for a new gambling property.

There is a lot going on in Nevada right now. Major casino companies continue to struggle bringing in tourists and gamblers. Some companies seem to see an opportunity and are looking to expand right now.

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

Nevada Casino Companies Brace for New Regulations From Governor Sisolak

It’s great to see gaming companies in Nevada looking towards the future. Most of the ones operating here right now, however, are eagerly waiting to hear what Governor Sisolak has planned. For weeks, Sisolak has been warning that new casino regulations could soon be on their way.

Nevada’s Covid-19 infection rates continue to increase. It’s a troubling development for the state, which relies on tourists from around the country. Many now believe that all of the casinos in this state will soon be ordered to shut down again.

As we mentioned earlier, this happened back in March. It had a devastating effect on the state and resulted in tens of thousands of job losses. Another mass casino shutdown could have a permanent effect on the state moving forward.

Most of the biggest casino companies in the state are now preparing for another set of regulations. Governor Sisolak understands the impact this will have. Failing to act, he argues, could have an even worse effect.

It’s an interesting time for Nevada’s casino industry. It now seems that we could see a new casino in Henderson in the future. Hopefully, the casino industry here is able to cope with whatever comes over the next couple of months.

Do you want to see Marnell Gaming open a major casino-resort in Henderson? Let us know in the comments section below!

Many Are Now Pushing the AGA to Ban Smoking Inside Casinos

Cigarettes In Ash Tray

Casinos around the United States have been working extremely hard to improve their safety measures lately. Unfortunately, many of these gambling venues have been forced to shut down due to public health concerns. Several prominent groups are now pushing the American Gaming Association to ban smoking inside casinos.

This has been a major talking point for years. Today, we’ll talk about what could lead to this massive change being implemented.

Let’s get into it!

More States Are Expected to Shut Down Casinos This Month

For more than a month, the United States has been experiencing a massive spike in Covid-19 cases. It’s something that health experts have been warning about for years. As the colder months approach, more people are gathering indoors and infection rates begin to increase.

Each state is taking its own approach to deal with this situation. Many analysts have been keeping a close eye on what is happening in Nevada. The world’s biggest gambling hub has ordered casinos to ramp up safety measures, yet Governor Sisolak is doing everything he can to avoid a complete shutdown of the state’s casinos.

Some states are taking more dramatic steps. Several states including Illinois and Michigan have ordered all commercial casinos to close their doors to the public. It’s been a tough situation for the owners of these gambling venues, all of whom are losing massive amounts of revenue each week.

Unfortunately, infection rates continue to increase around the country. Some analysts now expect more states to announce casino shutdowns in the near future. There’s even a chance that this could take place in major gaming hubs such as Las Vegas and Atlantic City.

The land-based casino industry is facing its toughest test in history. Casino companies are now trying to come up with new safety measures to convince state leaders they can remain open. Whether or not they will be successful remains to be seen.

Several groups are calling for casinos to change their rules on smoking. Could we see a smoking ban implemented before the end of the year?

California Group Pushes to Ban Smoking Inside Casinos

Smoking has been allowed in casinos for decades. Despite the known health effects, major gaming destinations have done little to stop this trend.

It’s not hard to see why. A few casinos in hubs like Las Vegas have decided to prohibit smoking over the past couple of decades. Doing so almost immediately resulted in a major drop in their average number of players.

Perhaps 2020 is the year a widely-adopted smoking ban is finally set in place. At least, that’s what the California-based Americans for Nonsmokers’ Rights have been calling for. This week, the group sent a formal letter to the American Gaming Association asking for casinos to stop accepting tax dollars unless they prohibit smoking. The group also claims that banning smoking does not result in a major drop in overall revenue.

“In states with permanent smoke-free policies, such as Maryland and Ohio, the industry is experiencing year-over-year revenue increases, despite operating at reduced capacity,” the group’s letter said. “Casinos in states that were forced to abide by a state-imposed, temporary smoke-free policy in order to reopen, such as Pennsylvania, have seen revenues remain relatively stable compared to the previous year, especially considering they have been operating at significantly reduced capacity, and the smoke-free policy has helped to keep 99 percent of gaming employees COVID-free.”

In the past, it would seem impossible to imagine this kind of measure being widely adopted. This industry is in a precarious position right now, however, and this new rule could help casinos to remain open.

We’ll continue offering updates on this situation over the next few months!

Here’s What to Expect in Las Vegas This Month

From an economic standpoint, Las Vegas has been hit harder than any other major US city. This part of the country relies heavily on its tourism and casino industry. For nearly all of 2020, these industries have been hurting.

Governor Steve Sisolak understands how devastating the state’s regulations can be. The casino shutdowns back in March resulted in a massive number of job losses and may have permanent effects on the city. Sisolak also understands that failing to implement any regulations could have just as devastating an effect.

In mid-November, the Governor announced a new set of regulations. Until further notice, bars, restaurants, and casinos will need to operate at just 25% capacity. Private gatherings must be limited to 10 people.

At the time of this article, Nevada experienced an additional 2,902 Covid-19 cases and 23 more deaths. That’s a large increase from the 2,536 cases seen yesterday. Despite the state’s efforts, more cases are being seen here on an almost daily basis.

Some now believe that another major casino shutdown is necessary. Without it, the state may continue seeing huge increases in infections. Hopefully, the federal government comes up with a plan to protect the businesses and individuals affected by any new regulations set in place here.

Do you think the AGA should ban smoking inside casinos? Could this take place in Las Vegas? Let us know in the comments section below!

Gaming Revenue in NV Drops Again in September 2020

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

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

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

Let’s get into it!

More US Casinos Ask For Additional Funding From the Government

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

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

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

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

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

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

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

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

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

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

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

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

Here’s what is happening in this city.

Las Vegas Sands is Interested in Selling US Casinos

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

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

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

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

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

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

Expect to See More Security Inside Las Vegas Casinos

Las Vegas Sign and the Paris Las Vegas Casino Hotel

Over the past few months, the city of Las Vegas has seen a significant increase in crime around popular tourist destinations. It’s a troubling development for the casino companies here working hard to boost tourism and revenue. As a result of this activity, we’re now beginning to see more security in Las Vegas casinos.

Many analysts felt this would happen. Hope is that these new measures help to lower crime again. Today, we’re going to take a look at what casinos have planned, and how this might affect Las Vegas moving forward.

Let’s get into it!

Casino Revenue is Slowly Increasing in Las Vegas

The United States’ casino industry completely shut down back in March. In some states, this shutdown wasn’t even noticed. Others immediately took a massive hit. Nevada certainly falls into the latter category.

This state is home to a number of major gambling destinations. None is bigger than Las Vegas. Over the past century, this city has grown to become one of the most-visited casino destinations on the planet. Several multi-billion-dollar properties are based here.

The casino shutdowns back in March took a serious toll on Las Vegas. Finally, in June, Governor Steve Sisolak gave permission for the casinos here to reopen. Most of the major casino-resorts in the city are now open again.

Revenue remains far lower than what was being made in 2019. That’s certainly no surprise when considering the state of the world. Fortunately, reports show that revenue earnings here are increasing each month.

Not everything is improving here, though. There seems to be a large increase in violent incidents happening in the city’s major tourist destinations including the Las Vegas Strip. As a result, several of the biggest casino-resorts here are taking new steps to increase their security measures.

Will this help things?

There Will Soon be More Security Inside Las Vegas Casinos

Crime has always taken place in and around the city of Las Vegas. It’s a big city, and historically speaking, most serious crimes occurred away from areas like the Strip. In more recent months, however, there seems to be a large increase in these incidents occurring in these tourist areas.

It’s become a serious issue for major casinos here. These venues are doing everything they can to boost tourism and attract new players. The last thing the owners of these properties want is visitors fearing about crime.

Some of these casinos are now taking things into their own hands. News has just surfaced that we’ll soon see a major increase in security inside Las Vegas casinos. That includes the Las Vegas Wynn and Encore Casino-Resorts.

Officials within these venues claim this has been planned for weeks. Moving forward, guests will be screened for weapons and other metal objects. Hotel key cards will also need to be verified in order to ensure only hotel guests are being admitted into the towers.

They released a statement explaining some of the new measures being set in place.

“The additional screening at the resort entrances complements existing security measures that are in place, including scanning hotel room keys at elevator entrances to ensure only current registered guests are admitted to the hotel towers,” the statement says. 

Hopefully, this helps these casinos to lower crime rates in the city. It will certainly be interesting to see. Make sure to stay tuned for updates over the next few months!

Tourism Rates in Nevada Continue to Fluctuate

2020 has likely been the toughest year in history for Nevada’s casino industry. It’s also been extremely difficult for the huge number of businesses here that rely on tourism to operate. Much like casino revenue, tourism is slowly increasing in Nevada, yet this seems to be fluctuating over the past couple of months.

It’s clear that more individuals are now choosing to drive into Las Vegas, rather than fly. There are also more Nevada residents choosing to gamble, rather than tourists from outside states. Prior to this past week, many hoped Las Vegas would see a large influx of international visitors.

That did not turn out to be the case. Even during China’s “Golden Week,” which traditionally brings a huge number of Chinese gamblers into the city, international visitation rates were extremely low. Travel restrictions remain in place around the world and may remain in place for months to come.

A boost in tourism will result in a boost in revenue. With winter approaching, it may be quite some time before things return to normal in Las Vegas, though. The next few months will tell a lot about what to expect.

You can expect to see more security inside Las Vegas casinos soon. The other properties in this city are likely to take similar measures soon. Stay tuned for more updates on how this will affect the city over the next few months!

Are you happy to see security measures increase in Nevada? Do you plan on visiting Las Vegas anytime soon? Let us know in the comments section below!

Here’s Why Station Casinos is Selling Property in Reno

Station Casinos is one of the largest casino operators in the state of Nevada. Unfortunately, the company has been struggling to generate revenue over the past six months. As a result, several properties are being sold around the state. Today, we’re going to look at why Station Casinos is selling property in Reno.Reno Sign

It’s been a hard year for casino operators around the world. Station Casinos is now focused on new strategies to generate revenue. That includes major property sales.

Let’s look at what land is being put up for sale right now.

Nevada’s Casino Revenue Begins to Hold Steady

The state of Nevada has always been known for having one of the largest and most successful casino industries in the world. A huge number of large and small casinos are located here. Las Vegas remains the state’s most popular gambling destination.

Under normal circumstances, casino revenue in this state is higher than anywhere else. 2020 has been an unusual year, though, and the land-based casino industry is being severely impacted. For months, casinos around the United States were completely shut down.

Governor Sisolak gave the green light for Nevada’s casinos to open in June. Casino companies hoped that revenue from this industry would immediately bounce back. That has not been the case, and earnings remain significantly lower than they were last year.

Things appear to be holding steady now. Nevada’s gambling industry generated $756.8 million in July. That’s a large improvement from June, yet far below what was earned in July of 2019. Most analysts predict revenue earnings to be slightly higher once again in August.

This drop in revenue is taking a serious toll on casino companies based in Nevada. Some have begun looking at new ways to bring in money. Unfortunately, that could result in major property sales around the state.

We’re now beginning to hear that Station Casinos plans to sell some of its land in Northern Nevada.

Station Casinos is Selling Property in Reno This Year

Over the past few years, we’ve seen a number of massive casino sales. Much of these came from Caesars Entertainment and Eldorado Resorts, two companies that have merged this year. In order for this deal to go through, various state gambling commissions forced these companies to sell several of their casinos.

Things are different now. Many casino companies are now being forced to sell their properties to make up for lost revenue. In some cases, keeping casinos operational is no longer feasible and actually costs money.

That seems to be the case for Station Casinos, one of Nevada’s biggest casino operators. More than a decade ago, this company announced plans to break into Reno’s casino market. It bought massive areas of land in the city and revealed plans to open several major casino-resorts here.

It’s now been confirmed that Station Casinos is selling its property in Reno. That includes the 89-acre piece of vacant land on Mount Rose Highway and the eight-acre property near the Reno-Sparks Convention Center. It’s clear that company officials no longer see the benefit in holding onto this land.

Many of Reno’s top officials are disappointed to see this land sold. They’d hoped that several new major gambling venues would open here. Unfortunately, that’s no longer possible under the current state of the county’s land-based casino industry.

We may even see several major Las Vegas property sales take place soon.

Expect More Las Vegas Casinos to Go Up For Sale

As we said earlier, Las Vegas has always been the world’s top casino destination. Some of the most expensive casino-resorts ever built are located here. Prior to 2020, more than 40 million tourists would flock to this city every year.

Even the biggest casinos here have seen their revenue drop immensely in 2020. That includes Wynn Resorts, Las Vegas Sands, and MGM Resorts International. Most gaming analysts predict this trend will continue throughout the rest of the year.

Many of the smaller casinos around Las Vegas remain closed. Some are owned by Station Casinos. Officials within this company have recently told the media that several of these properties are likely to permanently shut down.

There’s a chance that we could see major casino-resorts sold here over the next few months. Several top gaming officials claim this remains a real possibility. Some even fear that new casino-resorts such as Resorts World Las Vegas will be forced to delay their construction.

Station Casinos is selling property in Reno. The company also claims it’s likely to put some Las Vegas casinos for sale. We’ll need to wait and see if any other major casino-resorts are sold over the next few months.

Are you surprised to see Station Casinos move out of Reno? Do you think any major casinos will be sold in Las Vegas? Let us know in the comments section below!

Spending in Las Vegas Remains Low Throughout 2020

Las Vegas remains one of the biggest tourism cities in the United States. Unfortunately, the tourism industry has been struggling for almost the entire year. Things are improving, yet tourism spending in Las Vegas is considerably lower this year than it was in 2020.Spending Money

It’s not what city and state officials had hoped to hear. Many felt that by late-August, we’d be back to normal. Now is the perfect time to take a look at how much money visitors to Las Vegas are spending right now.

Let’s get into it!

Casino Revenue is Slowly Increasing in Nevada

In early June, after months of deliberation between state leaders and gaming officials, casinos in the state of Nevada were finally given permission to reopen. At first, only a few of the major casino-resorts in Las Vegas began to open back up. As time went on, more of these massive gambling venues started to reopen.

In 2020’s second quarter, casino revenue was almost non-existent. Wynn Resorts saw its revenue during this time fall by 95% when compared to 2019. Las Vegas Sands was even worse with an astounding 97% drop in its Q2 revenue.

This wasn’t surprising, though. In April, and May, and June, most casinos in the state of Nevada were completely shut down. The only money these properties were making came from their online operations. Things immediately began to improve in quarter three of 2020.

July was certainly a better month than June. August is likely to be an even better month than that. Unfortunately, the revenue that casinos in Las Vegas and the rest of Nevada are earning is still considerably lower than what was being made in 2019.

It’s now becoming clear that tourism is down, as well. Reports are beginning to come out that show how many visitors are heading to Las Vegas, and how much they are spending. Things are a little worse than many had hoped.

Here’s where things stand.

Tourism Spending in Las Vegas is Still Down Heading into September

A huge number of employees in the city of Las Vegas rely on tourists. The closure of casinos has resulted in a major dip in tourism and things have still not completely recovered. It now appears that many visitors here are still unwilling to spend as much as they would have prior to March.

Jeremy Aguero, principal for Applied Analysis, claims the state is getting a different kind of tourism and, as a result, spending is down.

“While there’s no doubt that some high-valued consumers have found their way back to Las Vegas … there’s a broad mix of consumers that are ultimately coming back,” he said. “You’re getting a lot of drive-in traffic … (which) is going to be a bit different in terms of spend profile than what you would normally see.”

Macquarie Research just released a report that details how much spending in Las Vegas has dropped in 2020. The report shows that 40% of Las Vegas visitors would spend less money than they would have in 2019. 50% of visitors claim they would spend the same amount of money.

Interestingly, 37% of the people surveyed claim they would spend less time in Las Vegas amid the pandemic. 60% claim the pandemic would have no impact on the amount of time they spend in the city.

This is a tough blow for the employees that rely on tips and generous spending. Hope is that rates of tourism and spending begin to increase as the year goes on.

Casino Worker Layoffs Are Still Taking Place Around the US

Individual employees aren’t the only ones being affected by the drop in spending in Las Vegas. Major casino companies are feeling the dip in revenue, as well. This is leading to many companies being forced to lay off large numbers of workers.

We’ve been seeing this since March. That month, a huge number of workers were informed their jobs would be lost. Many of these jobs returned in June, only to be taken away as revenue earnings failed to bounce back.

Many of the top casino companies in Nevada are doing everything they can to avoid these layoffs, though. In late July, Las Vegas Sands announced a new plan to pay their workers. The Sheldon Adelson-run company claims it will continue paying all employees until at least October 31st.

Hopefully, things have improved in a major way by then. The trend seems to be heading that way. Several states have begun seeing large casino revenue increases. No one can really say how things will look by the end of 2020.

It may take years before spending in Las Vegas is back to the way it was in 2019. We’ll continue to offer updates on tourism rates and revenue here over the next few months.

Are you surprised to hear that spending is down in Las Vegas? When do you expect things will return to normal? Let us know in the comments section below!