NC’s Casino Industry Could Bring the State Billions in Revenue

Casino Floor

Lawmakers in North Carolina have been talking about expanding the state’s gambling industry for years. It appears that this idea is now being seriously considered. New reports have surfaced that claim NC’s casino industry could help to bring the state billions of dollars in revenue.

The country’s land-based casino industry is finally beginning to recover. Many areas of the country are now showing interest in embracing this form of gambling. Now is a great time to talk about what could be coming to North Carolina soon.

Let’s get into it!

The US Casino Industry is Set for a Big Rebound

In the years leading up to 2020, the US casino industry was growing at a steady pace. Major gaming hubs like Las Vegas and Atlantic City were seeing massive revenue surges every month. It seemed like the country was entering a golden age for the gambling industry.

Then, in March of 2020, casinos around the country were ordered to shut down. It was an unprecedented situation and one that no city was prepared for. The biggest gambling cities in the country were hit harder than others.

No city was as affected as Las Vegas from an economic standpoint. A massive number of businesses here rely on tourism. When the casinos across Las Vegas shut down, tourism into the city came to a screeching halt.

Fortunately, it now seems that this industry is ready for a rebound. Vaccine distribution has been ramping up and travel is beginning to increase once again. A huge number of people around the country are now interested in making the trip to fun casino destinations like Las Vegas.

Many believe that casino revenue is going to begin surging by the time summer rolls around. It’s great news for the many casino companies operating right now. These companies have experienced historic revenue drops for more than a year.

North Carolina is one state that seems interested in embracing its casino industry. New reports are beginning to shed light on how much money the industry can bring the state.

Analysts Provide More Information on NC’s Casino Industry

North Carolina once had some of the strictest gambling laws in the country. State officials were extremely hesitant to embrace any forms of traditional wagering. Things have begun to change in a big way in recent years, though.

Back in 2019, Governor Cooper signed a new law that legalizes the state’s sports betting industry. Unfortunately, North Carolina has been extremely slow to get this industry off the ground. Today, there are still no regulated sports betting platforms operating in the state.

Not long ago, NC officials ordered the North Carolina Education Lottery to file a report on how expanded gambling options would impact the state. Initially, this report focused on the impact of legal sports betting. It then began looking into how a larger casino industry would change things.

According to these reports, NC’s casino industry could help to bring the state $2.2 billion in revenue within five years. Matt Roob at Spectrum Gaming spoke about these reports this week. He claims the gaming industry could be a major revenue generator for the state in the future.

“It has been used in the past as an economic development tool,” he said. “You take a look at what behavior has been like in other states. Where would be logical places to put these things? Kind of like you want to go where the money is, right? I understand that people don’t necessarily want this in their neighborhood, but that’s why there’s a legislative process.” 

Leaders in North Carolina will need to take a good look at these numbers. They may decide to embrace the casino and online gambling industry more simply due to the money it will bring in. Stay tuned for updates over the next few weeks.

Sports Betting Revenue Slowed Down in February

The casino industry is still a long way away from a total recovery. It could be years before the country’s casino companies see pre-pandemic revenue figures. It seems likely that a rebound will begin to be experienced sometime this summer.

Interestingly, the US sports betting industry has been surging lately. Throughout 2020, sports betting revenue was increasing rapidly throughout the country. That trend continued in the first month of 2021.

New reports claim that sports betting revenue dropped in most states this past February. Over in New Jersey, sports betting operators earned just $743 million this February. That’s a rather large drop from the $996 million earned in January.

Tennessee also experienced a large sports gambling revenue drop. The sportsbooks in this state saw a 40.4% drop in sports betting revenue month-on-month. That is the first revenue decline for Tennessee’s sports betting industry since it launched.

Even Rhode Island saw a decline. The state’s sports gambling platforms reported a massive 58.5% drop in revenue when compared to January. Fortunately, most expect a major recovery due to March Madness in March.

Do you think NC’s casino industry should expand? When will sportsbooks finally launch here? Let us know in the comments section below!

NC’s Kings Mountain Casino Could Go Under Construction Soon

North Carolina Flag

For years, the South Carolina-based Catawba Nation tribe has been pushing to open a Las Vegas-style casino in Kings Mountain, North Carolina. Many are pushing against these plans and claim the tribe does not have the right to open this venue in the state. There is progress being made, however, and it seems likely that NC’s Kings Mountain Casino could soon go under construction.

It’s exciting news for gambling fans in this area of the state. Today, we’ll talk about some of the new developments surrounding this property. We will also look at some of the other ways that the gambling industry in North Carolina is expanding.

Let’s get into it!

Looking Back at the Catawba Nation’s Move into North Carolina

North Carolina is known for being somewhat of an anti-gambling state. For decades, the lawmakers here pushed against allowing any traditional forms of gambling. A state lottery was eventually approved and Native American-run casinos began opening here shortly after.

The Catawba Nation is working to take advantage of this new leniency towards the gambling industry. For years, officials within the tribe have been pushing to open a new casino-resort in North Carolina. The tribe has faced serious push-back recently.

The Cherokee Tribe currently operates several popular casinos in North Carolina. This tribe is arguing that the Catawba Nation has no legal right to open a gambling property in this state. Some feel it’s a valid point, as the Catawba are based in South Carolina.

Some within the federal government are also pushing against the tribe’s plans. It’s a difficult situation that could take years to settle.

There is some progress being made. Governor Roy Cooper has been in negotiations with the tribe over the past few years. This week, these two groups reached an important new agreement. It could help to begin construction on this new property.

Here’s what you need to know about this proposed casino-resort.

Roy Cooper Approves Revenue Plan for NC’s Kings Mountain Casino

North Carolina has been slowly expanding its gambling industry over the past decade. This is proving to be a great decision for the state. The casinos and other various regulated gambling options here are bringing the state a large amount of revenue every month.

Governor Roy Cooper has been working hard to settle the dispute between the Catawba Nation and the Cherokees. As we just mentioned, he has been in intense negotiations with these tribes in recent weeks. Today, news broke that Cooper officially approved a new revenue plan for this casino-resort.

This is a huge move for the Catawba Nation. Approving this revenue plan could even allow for the tribe to begin construction on this venue. That is according to the tribe, yet some feel federal approval is still necessary.

Not everyone is excited about this news. Principal Chief Richard Sneed of the Cherokee Tribe released a statement about this situation to the media this week. He believes future legal battles will keep this property from ever being built.

“This compact changes nothing,” Sneed said. “We continue to believe the courts will affirm the illegality of this casino and when that happens, the Catawba agreement will be nothing more than a worthless piece of paper.”

The Catawba continue to discuss the economic benefits this property will bring. It could bring thousands of jobs to the area and millions of dollars in annual tax revenue for the state. This alone could push NC’s leaders to finally approve this property. It won’t be the only new gambling option coming to this state.

North Carolina’s Sportsbooks Are Expected to Launch Soon

It’s been fascinating to see North Carolina’s gambling industry expand recently. Over a year ago, lawmakers here approved a measure to legalize and regulate sports betting. To the disappointment of many NC residents, none of the state’s sports betting platforms have officially gone live.

Under the current regulations, North Carolina will only allow land-based sports betting. These wagers will need to be placed inside licensed venues. Many have been openly calling for the state to allow online sports betting, too. The other states that allow internet sports betting are earning a massive amount of revenue each month.

That may come in the future. In the meantime, only land-based sports betting is set to be allowed here. Many expect the first sportsbooks to officially launch in this state sometime in the next few months.

Two sportsbooks have already been constructed here. Both sit within tribal casinos in the state. It wouldn’t be a huge surprise to see NC’s Kings Mountain Casino open a sportsbook to the public in the future, too.

There is still no official word on when these sportsbooks will open. State officials are doing a last-minute review of the plans. We’ll be sure to offer more updates on this situation as soon as they come out.

Do you think the Catawba Nation should be allowed to open a casino in North Carolina? Let us know in the comments section below!

Here’s Another Update on the Casino in Kings Mountain, NC!

Governor Roy Cooper

North Carolina is home to several popular tribal casinos. Another exciting new casino-resort is expected to open its doors in Kings Mountain, near Charlotte. We’re now beginning to hear more about when this casino in Kings Mountain will finally begin operating!

Many are excited to see this property begin accepting guests. Hope is that the US casino industry has recovered by the time this takes place. Today, we’ll talk about how this new casino will affect North Carolina’s casino industry moving forward.

Let’s get into it!

US Casino Revenue Continues to Slowly Increase

The land-based casino industry in the United States has been heavily impacted by the events unfolding throughout the year. Back in March, all casinos across the country were shut down. As the months went on, casinos slowly began opening again with intense safety measures set in place.

Commercial casinos have been hit harder than tribal gambling venues. These commercially-owned casinos are subject to state regulations. As a result, many of them have been forced to shut down again in recent weeks.

Tribal casinos, however, are not forced to abide by state laws. As a result, most of them have remained open to the public. This has led some tribal casinos to see increases in their revenue this year.

Casino revenue throughout the US has been slowly increasing lately. Over in Arkansas, for example, casinos have been seeing steady increases in their gaming earnings. The state’s three casinos reopened in May and are now operating at limited capacity.

Las Vegas is also seeing its casino revenue slowly increase. Unfortunately, tourism here remains significantly lower than what was seen in 2019 and several of the biggest casinos here have recently begun closing during certain hours of the week to cut down on costs. Many analysts predict larger revenue drops as the winter months approach.

Online casino gambling is more popular than ever before, as well. There are a huge number of fantastic internet casinos spread around the entire country. That includes Bovada, which offers a wide range of different games and safe payment options.

It’s an interesting time for the nation’s gambling industry. We’re now beginning to hear more about the proposed casino in Kings Mountain, North Carolina!

Catawba Nation Offers Another Update on the Casino in Kings Mountain

North Carolina is one of several states that ban commercial casinos. Tribal casinos, however, have been able to operate here since the 1990s. Several groups have presented plans to open new casinos here over the past few decades.

That includes the Catawba Nation. This tribe has been pushing hard to open a major casino in Kings Mountain for years. Finally, in July of this year, groundbreaking on this exciting new project finally began.

This tribe is now offering information on when this new venue will open its doors. According to new reports, this new property is expected to open its doors next fall. The total cost of this project is projected to be $273 million.

Tribal Administrator Elizabeth Harris recently issued a letter to Governor Roy Cooper, explaining how this gambling venue will be run. She claims this will be the first Vegas-style casino in the Charlotte area. It will include slots, table games, and sports betting options.

The Governor and members of the Catawba Nation are now engaged in negotiations over a gambling compact. Members of the tribe claim they do not intend to begin construction before this compact is awarded. Anything is possible, though.

If all goes according to plan, this new casino will open its doors sometime next fall. We’ll continue offering updates on how negotiations between the state and the Catawba Nation play out over the next few months.

North Carolina’s Sports Betting Industry Could Launch by March

Several lawmakers in North Carolina began pushing to regulate sports betting shortly after PASPA was removed in May of 2018. Finally, in July of 2019, Governor Cooper signed a bill to “allow sports and horse race wagering on tribal lands.” State officials have been working to come up with plans for this industry ever since.

This has proven more difficult than many initially expected. In order for any sportsbooks to go live here, Cooper and the Department of the Interior needed to approve a new tribal compact. This has yet to take place.

Members of the Cherokee Nation claim they are still waiting for the Governor’s signature. In the meantime, the construction of two sportsbooks inside tribal casinos has been finished. Hope that the state would finally have legal sports betting ready by Super Bowl weekend is now dwindling.

Many analysts predict that North Carolina’s first sportsbooks will launch in March. That could help the state to generate revenue from March Madness. This tournament is one of the most-wagered-on sporting events every year.

As most are aware, North Carolina will not offer regulated online sports betting options. Wagers will need to place in-person at a tribal casino. Perhaps this will change once the state begins seeing revenue from this industry come in.

2021 is shaping up to be a big year for North Carolina’s gambling industry. We’ll need to wait and see if the casino in Kings Mountain finally opens sometime next fall. Stay tuned for more updates!

Groundbreaking Begins on New Casino in Kings Mountain

North Carolina is set to welcome an exciting new casino-resort soon. For years, the Catawbas Nation has been pushing to open a Vegas-style gambling venue in Kings Mountain, near Charlotte. Today, groundbreaking officially began on this new casino in Kings Mountain.North Carolina Flag

Gambling fans in this state are obviously excited. This new venue is expected to be one of the best casinos ever built in North Carolina. Today, we’re going to look at what is currently planned for this new casino.

Let’s get into it!

Catawbas Nation Wins Approval to Build NC Casino

The past few months have been very interesting for the Catawbas Nation. This tribe has been working hard to open a new casino in North Carolina for years. Interestingly, the tribe is actually based in South Carolina, where most forms of gambling are banned.

It should come as no surprise to hear that the Eastern Band of Cherokee Indians disapprove of the Catawbas’ casino plans. The EBCI currently operates the only casinos in North Carolina. This tribe feels that the Catawbas Nation is attempting to illegally break into their state’s gambling market.

Eventually, the Interior Department of North Carolina approved the Catawbas’ plans. Shortly afterward, the ECBI filed a lawsuit against this tribe. They argue that the tribe is “reservation shopping” and plans to open a casino on land that should belong to the EBCI.

Officials within the Catawbas Nation haven’t responded to this lawsuit. State leaders in North Carolina have yet to issue a formal statement on the matter, either. As of now, this tribe has the approval to begin construction on a new casino in Kings Mountain.

The EBCI is doing everything it can to stop these plans. Many residents in the state, however, are excited to hear that a massive new casino is being constructed here. From what’s being said, this will become North Carolina’s most impressive gambling property.

Groundbreaking Has Started on the New Casino in Kings Mountain

The Catawbas Nation has been discussing construction dates for its new casino for weeks. Reports began surfacing last week that groundbreaking would begin this Wednesday. That ended up true, and the first groundbreaking has officially started on this project.

This venue is expected to cost $300 million to construct and open. As of now, the plan is for this casino to open by next spring. This could be delayed if the lawsuit filed by the EBCI begins to gain some steam in court.

Officials within Kings Mountain are excited to hear what’s being planned. The Catawbas Nation claims this new casino will produce 2,600 permanent jobs. 5,000 construction jobs will also be formed to make the casino itself.

Catawba Indian Nation Chief Bill Harris expressed his excitement about the new casino in Kings Mountain this week.

“We celebrate what a tribal government and a local and state government can achieve when they come together and treat each other equally,” he said. 

It’s clear that the Catawbas feel this will be a successful casino. The constriction comes at an unusual time, though. Casinos around the country are experiencing major revenue drops and it’s unclear when this trend will change.

Will North Carolina’s sports betting industry help to bring in some much-needed revenue?

North Carolina Will Soon Allow Sports Betting

Back in May of 2018, the Supreme Court struck down PASPA. In doing so, every state in the country was given permission to set its own regulations on sports betting. A little over two years since the removal of PASPA, 24 states have passed laws to regulate the sports betting industry.

That includes North Carolina. Despite being a fairly anti-gambling state over the years, lawmakers in NC decided to approve a measure to allow in-person sports betting in July of last year. Unfortunately, no regulated sports betting options have become available here.

State leaders are still working to come up with specific tax rates and regulations for this new industry. There’s also a bill currently being considered to allow sports betting throughout the state. As of now, the plan is for sports betting to become available inside land-based casinos.

Some feel that sports betting will help bring North Carolina some much-needed revenue. As of now, the casinos here are struggling to bring in money. If online sports betting is allowed, the casino companies in the state can finally start bringing in money again.

It’s still unclear when the state’s sports betting regulations will become available. Obviously, things have been delayed due to the global pandemic. We’ll continue offering updates on this situation over the next few weeks!

Are you excited to hear about the new casino in Kings Mountain? Will this venue be successful? Let us know in the comments section below!

North Carolina Takes Next Step in Sports Betting Legislation

North Carolina is putting in a lot of effort in order to stay up-to-date with some other states and to legalize sports betting. Last week, the Senate of North Carolina approved a piece of legislation that aims to allow two casinos in this American state to add sports betting services to the list of offerings.

The name of the bill is Bill 154, and it was approved by a 50-seat body with a total of 43 people voting for and seven voting against the bill. The bill is now presented to the House of Representatives of North Carolina, and if everything goes well, we could see sports betting services in two Native American casinos very soon.

Senate Bill 154 is actually the work of Jim Davis, who is a Republican State Senator. It was introduced to the lawmakers back in February since the Eastern Band of Cherokee Indians requested it. The tribe would be allowed to add sports betting as one of the Class III services that are already offered in the two casinos – Harrah’s Cherokee Valley River Casino and Hotel and Harrah’s Cherokee Casino Resort.

According to Casino.org, which published a report related to the North Carolina bill, Davis proposed only land-based sportsbooks which would offer sports markets that are related to professional and college sports. However, the bill doesn’t say anything about mobile or online sports betting platforms. If this is indeed the case, it would be a huge let-down as online sports betting is way more popular at the moment compared to land-based sportsbooks in the US.

The PASPA Consequence

The Senate Bill 154 was proposed right after the United States Supreme Court invalidated the Professional and Amateur Sports Protection Act (PASPA) which was one of the main acts responsible for the reason why sports betting was illegal in the states. After the act was invalidated, many states started preparing laws to accept sports betting and include it as a part of casino offer both on the land and on the web. Some of the countries that were pioneers in offering sports wagering services were New Jersey, Delaware, New Mexico, Pennsylvania, West Virginia, Mississippi, and Rhode Island. Apart from these, there are talks in 30 more states about legalizing sports betting, and many states are already making wise legislative moves so as to enable their citizens to place bets on sports. Some of the states that are currently considering what to do are Washington, Indiana, and Arizona.

One of the most important perks of sportsbetting is not the fun that it brings to people who love this type of entertainment, but additional revenue streams that would fill in states’ budgets. Davis told North Carolina Senate that casinos run by the Eastern Band of Cherokee Indians already filled in the state’s budget. The Cherokee Indians managed to build a hospital and fund a lot of social programs in North Carolina. Therefore, allowing them to offer sportsbetting services would further strengthen the relationship between the casinos and North Carolina. Furthermore, a total of annual gaming revenues in this state could go up to $14 million with approximately $1 million going to North Carolina.

Davis stated that table games and slots were already legal in North Carolina and that sports wagering would just expand the number of possibilities for people who like visiting casinos. Furthermore, he added that sports betting is already legal and that it is a great reason to give an opportunity to the Eastern Band to offer that service as they were already very grateful to North Carolina and had been ‘good stewards of money.’