Atlantic City’s Casino Revenue Fell by Over 80% Last Year

Atlantic City Casinos

The US casino industry is still in a precarious position. Fortunately, things appear to be improving in most parts of the country. We are continuing to hear more about how devastating the events of last year were for this industry, though. New reports have surfaced that shed light on how much Atlantic City’s casino revenue fell in 2020.

Today, we’ll discuss the revenue figures here. We’ll also talk about how Atlantic City is faring through 2021.

Let’s get into it!

Tourism Numbers are Increasing in Major Casino Hubs

A huge number of US industries have taken massive revenue hits over the past year. Essentially any business that relies on tourism has been suffering. The casino industry, in particular, saw massive revenue declines over the past year.

There have been many reports on these fluctuating revenue figures. Cities such as Las Vegas and Atlantic City were simply unprepared to see their tourism industries come to a screeching halt. To make things worse, no one knew when things would begin to recover.

It’s now clear that this industry is beginning to recover. There has been a major surge of tourism into Las Vegas over the past couple of months. Interestingly, the city is seeing a huge increase of visitors over the age of 50 lately.

Atlantic City is seeing its tourism industry bounce back in a major way, too. The casinos here have been adjusting their hours as a result of this new surge. The entertainment options are increasing and new travel deals are appearing.

It will likely take years for Atlantic City to completely recover. There is a lot happening in this city that will help to speed up this recovery. Several major companies are now choosing to invest in the casino industry here with hopes of seeing a major revenue surge over the next few months.

As the months go on, we’re starting to hear more about the effects that 2020 had on different casino hubs. Here’s a look at how much revenue Atlantic City lost last year.

Here’s How Much Atlantic City’s Casino Revenue Dropped in 2020

Between March and July, the casino industry in Atlantic City was completely shut down. Governor Phil Murphy did not allow any land-based gaming venues to open their doors. Doing so would have likely resulted in a spike in infections.

Officials in Atlantic City immediately began complaining about the regulations set in place. Tens of thousands of individuals were left without work due to the casino shutdowns. Many businesses were forced to shut their doors, too.

New reports have just surfaced that show Atlantic City’s casino revenue dropped by an astounding 80% over the course of 2020. Overall, the casinos here reported $117.5 million in gross operating profits last year. That is down considerably from the $594 million earned the year prior.

James Plousis, chair of the New Jersey Casino Control Commission, spoke about this situation to the media this week.

“Atlantic City and its casinos endured their most challenging year in history,” he said. “Yet, through responsible management, the casinos proved that in-person gaming could happen safely. As tourists return to the shore, they can have every confidence Atlantic City is safe for the summer.”

Plousis is correct in his assertion that Atlantic City is poised for a comeback. As we mentioned earlier, gaming revenue here is gradually increasing throughout the year. As vaccine distribution increases, tourism will surge and the economic situation here will improve. Stay tuned for updates!

2021 is Shaping Up to be Huge for the US Sports Betting Industry

The casino industry may take years to completely recover. Things are beginning to recover in a big way, yet no one can accurately say when this will be completely recovered. The sports betting industry, however, continues to surge.

The US Supreme Court struck down PASPA back in May of 2018. This decision gave every state in the country the ability to legalize sports betting. More than half the country has already chosen to do so.

It seems as if 2021 will be the most successful year for the sports gambling industry to date. All professional sports are up and running again and fans are beginning to be allowed back inside arenas. There are likely to be millions of Americans that choose to bet on sports for the first time this year.

February ended up being a poor month for this industry. Winning Super Bowl bets led to revenue declines for many states. March is expected to be a fantastic year for this industry and many expect states to set new records.

Atlantic City’s casino revenue is beginning to increase. The sports betting industry set in place here will help to make up for some of the losses. It is finally looking like the gambling industry is ready to recover.

Are you surprised to see how much casino revenue dropped in Atlantic City last year? Let us know in the comments section below!

The Economy of Las Vegas is Recovering Quicker than Most Expected

Las Vegas Sign

For more than a year, Las Vegas has been doing everything it can to boost tourism and gaming revenue. It seems that these efforts are finally beginning to pay off. New reports claim that the economy of Las Vegas is recovering faster than many analysts initially expected.

It’s exciting news for many of the individuals and businesses here. Las Vegas has faced some serious adversity over the past year. Today, we’ll discuss how things are improving in the city.

Let’s get into it!

Casino Companies are Reporting Big Revenue Increases

There have been countless reports documenting the struggle that the US casino industry has faced over the past year. As most are aware, casinos were forced to be shut down for months in 2020. Even after reopening, the majority of them saw very little revenue coming in throughout the year.

Gaming analysts were torn on how long this situation would last. Some feared that the major casino-resorts in Las Vegas would be forced to file for bankruptcy. Without players, these venues simply cannot survive.

2021 is already proving to be a far more successful year for this industry. Vaccine distribution is ramping up around the United States. As a result, more individuals are making the trip to major gambling hubs such as Las Vegas.

Casino companies are now reporting large increases in their revenue figures. That includes companies like MGM Resorts International and Wynn Resorts. Based on the current trend, these revenue figures will continue to increase as the year goes on.

Las Vegas Sands may be somewhat disappointed at the surge of gaming revenue in Las Vegas. Not long ago, the company sold several major properties in this city to focus more on operations in Macau. That may have been a mistake.

All eyes are now on Las Vegas and the tourism situation here. Fortunately, it seems that things are improving here much faster than most anticipated.

Here’s an Update on the Economy of Las Vegas

The city of Las Vegas remains the biggest gambling hub in the world. It’s here that many multi-billion-dollar gaming venues are up and running. It was also the worst-affected city in the country from an economic standpoint due to the events that unfolded last year.

There have been serious debates raging over how the economy of Las Vegas will fare throughout 2021. There is good news on that front. The city’s tourism and gaming industry are bouncing back quicker than just about everyone anticipated.

Reports are now indicating that resort foot traffic and occupancy levels are quickly reaching pre-pandemic levels. In fact, hotel occupancy is at about 95% during most weekends. That is a staggering increase from just one month ago.

Even midweek visits to Las Vegas are surging right now. It’s becoming clear that many people around the country are taking long-overdue vacations to the city. Special deals and discounted entertainment options are helping to fuel this recovery.

Prominent gaming analyst John DeCree spoke with the Las Vegas Review-Journal this week about the economic boom here.

“There is a significant pent-up demand for entertainment from the US consumer, and Las Vegas is the entertainment capital of the US,” he said. “With limited entertainment options over the past year, and national savings levels at record highs, coupled with robust stimulus from the federal government, we believe consumer entertainment such as Las Vegas will be the recovery ladder.”

This has to be the most exciting news for casino companies to hear in quite some time. Las Vegas is recovering in a big way. We’ll be sure to continue offering updates on the economic situation here over the next few weeks.

Will More US Casino Companies Focus on Macau This Year?

The country’s gambling industry has been through a lot over the past year. For a time, it seemed as if Macau would end up being a saving grace for the country’s biggest gaming hubs. That didn’t necessarily end up being the case.

In fact, Macau’s recovery has been significantly slower than many expected. Many intense travel restrictions have been set in place to and from Mainland China. As a result, tourism and gaming revenue here has remained low.

Some of the biggest US casino companies own and operate many casino-resorts in Macau. MGM Resorts, Wynn Resorts, and Las Vegas Sands all own gaming venues here. Some are now wondering whether or not these venues will end up out-performing the ones in Las Vegas.

Based on the current trends, that doesn’t appear to be the case. The economy of Las Vegas is improving in a big way recently. Macau may end up taking longer to see the same type of recovery.

Things are still changing at the drop of a hat, though. No one really knows how the world’s land-based gambling industry will be looking in just a few months. Stay tuned for more information on how this industry is faring as the months go on.

Are you surprised to see how quickly Las Vegas is recovering? Do you think we’ll see pre-pandemic revenue figures this year? Let us know in the comments section below.

More Plans to Open a NYC Casino are Coming Out

New York City View

New York is home to a large casino industry. Unfortunately, revenue from this industry has been low for more than a year and many are looking at new ways to bring in money. We’re now beginning to hear more about the plans to open a NYC casino.

Many officials are pushing to allow a Class III gambling venue in New York City. It seems that some progress is being made on this front. Today, we’re going to discuss exactly what needs to be done for a casino to be approved to open its doors in the Big Apple.

Let’s get into it!

Gaming Revenue is Beginning to Surge Around the US

It’s been more than a year since the US casino industry completely shut down. This proved to be one of the biggest moments in the casino industry to date. It took months for any major casinos to begin operating again.

The country’s larger gaming hubs were impacted more than the smaller ones. Places like Las Vegas and Atlantic City immediately began to suffer. These cities are unique in that they rely massively on their tourism industries.

Las Vegas began allowing its casinos to operate again in June. Of course, these venues were only able to operate at a limited capacity with intense regulations set in place. Tourism in the city remained low even after the casinos opened their doors again.

Atlantic City wasn’t given permission to reopen casinos until July. It was a tough few months for the East Coast’s biggest gaming destination. Like Las Vegas, tourism here remained very low for months.

Things are beginning to improve, though. Tourism rates are steadily increasing in Las Vegas. Casino companies across the country are beginning to see an increase in revenue. It seems likely that there will be a major recovery reported throughout the summer.

New York has been trying to improve its casino industry for years. It’s now looking like a major gambling venue could finally be making its way into NYC.

Here’s What We Know About the Plans to Open a NYC Casino

The idea of opening a major Class III casino in New York City has been floating around for years. There has been pushback by several prominent individuals in the state who feel this could end up resulting in more crime and gaming addiction. Lately, however, more have gotten on board with the idea of getting a casino in New York City up and running.

Several prominent politicians are interested in this idea, as well. New York City mayor-hopeful Andrew Yang has been supporting the plans to open a NYC casino. He believes this gaming venue could help to bring New York a huge amount of valuable revenue.

This week, news broke that a bid to open an official casino in New York City came up during the state budget talks. It’s the first time this has happened and shows how much progress is being made. Governor Cuomo is now said to be working on a “community advisory board” to find an adequate site to host this new casino.

One anonymous lawmaker spoke with the New York Post this week about the current casino plans here.

“Cuomo is like a mad scientist in his lab drafting language for a new casino. Legislators in the Senate and Assembly are rejecting budget language giving the governor the authority to locate a casino in Manhattan,” the lawmaker said.

It’s clear that more individuals are now beginning to support the idea of opening a major casino in New York City. Reports have surfaced showing this property could bring the state a massive amount of tax revenue every single year. One anonymous lawmaker seems to indicate that not everyone is supporting this idea, though.

Finding a suitable location for this venue seems to be the main priority right now. We’ll be sure to offer updates on this situation over the next few weeks!

Atlantic City’s Casino Industry is Poised for a Big Comeback

Casinos around the United States are beginning to see big increases in their monthly revenue earnings. It’s great news for the companies that own these properties. Most major US casino operators have seen unprecedented revenue drops over the past twelve months.

Atlantic City may end up seeing a massive comeback this summer. This small city is home to many of the best casino-resorts on the East Coast. Most of the restrictions here have been lifted and these casinos are beginning to report major increases in their visitation rates.

Some big companies are now investing into this city’s gaming industry. Not long ago, news broke that the Ilitch family had agreed to purchase half of the Ocean Casino in Atlantic City. They expect major jumps in revenue over the next few months.

The sportsbooks here are likely to see a major revenue boost, as well. Online sports gambling revenue has been flowing into New Jersey for the past year. As more visitors flock into Atlantic City, land-based sports betting revenue will increase.

It’s a great time for the casino industry. If all goes according to plan, there will be a surge of tourism into the major gambling hubs around the country. Stay tuned for updates on this exciting situation.

What do you think about the plans to open a NYC casino? Do you think a casino will open here in the next few years? Let us know in the comments section below.

Ilitch Family Purchases Stake in Ocean Casino Atlantic City

Ocean Casino Atlantic City

Atlantic City is slowly but surely recovering. Casino companies here are now working hard to bring in more players from around the country. According to new reports, the Ilitch family has agreed to purchase half of the Ocean Casino Atlantic City. 

This venue has been operating in Atlantic City for less than a decade. Its owners are hoping for a successful summer this year. Today, we’ll discuss what exactly is happening with this property. 

Let’s get into it!

New Jersey’s Casino Industry is Beginning to Bounce Back 

New Jersey has been home to a successful casino industry for decades. Back in 2008, however, this industry took a massive blow. The economic crisis hit Atlantic City hard and several popular gaming venues were forced to close their doors here. 

In recent years, this city has been experiencing a revival. The legalization of sports betting here in 2018 seemed to bring new life to the city. Tourism numbers continued to increase for years and gaming revenue was on a steady incline. 

In March of 2020, Governor Murphy ordered all of the casinos in New Jersey to close their doors. These gambling venues remained closed for months. It wasn’t until summer that the casino industry in New Jersey began to open back up again. 

Casino revenue in the state has remained low. Fortunately, New Jersey has a regulated online casino industry set in place. Even with this additional money, however, the casinos in the state have been hurting badly. 

Some analysts now believe that this summer will prove to be an extremely successful one for Atlantic City. As more vaccines are administered, travel is ramping up around the county. Many are making the trip to major gambling hubs such as Atlantic City for some relaxation. 

That is great news for the companies operating gaming venues here. We’re now hearing more about a major organization making the move into this city. 

Here’s What is Going on With the Ocean Casino Atlantic City 

Atlantic City is home to many of the biggest and best casino-resorts on the East Coast. Some of these properties have been around for decades. Others are fairly new. All of these properties are hoping for a successful summer. 

The Ocean Casino Atlantic City opened its doors to the public in 2018. Before that date, this venue was called the Revel Casino Hotel Atlantic City. The thought was that a major rebranding would help to bring more players to this venue. 

That hasn’t necessarily been the case. Ocean Casino Resort has been one of the worst-performing properties in the city. Some major changes were made in 2019 that seemed to be helping to improve things. 

This week, news broke that the Ilitch family had agreed to purchase half of the ownership of this venue. The Luxor Capital Group, which currently owns this venue, has agreed to sell the half this year. The company released a statement expressing excitement about this deal to the media this week. 

“We are extremely excited about the proposed investment by the Ilitch organization, which, if approved, will give Ocean access to growth capital and provide a strategic partner to Luxor,” the statement said. “We look forward to continuing to grow Ocean in partnership with the Ilitch organization for years to come.”

The Ilitch family owns several major sports teams, a pizza chain, and a major casino in Detroit. The organization now sees potential in the recovering New Jersey casino industry. We’ll be sure to offer more details on this sale over the next few weeks! 

Las Vegas Casinos are Seeing a Boom in Visitors

Atlantic City is far from the only major casino hub to face difficulties since 2020. The entire land-based casino industry shut down at that time. No city has been as economically challenged as the city of Las Vegas. 

Las Vegas is known for being home to some of the most expensive casino-resorts on the planet. That includes properties like The Bellagio, The Cosmopolitan, and The Wynn Las Vegas. All of these venues have seen massive revenue declines since March of 2020. 

Fortunately, there has been a major surge in tourism in this city. Reports are indicating that an older demographic is now making the journey into Las Vegas. Things are improving and this summer should be a successful one for the gaming industry here. 

As many are aware, some exciting new venues are coming to this city that should help to boost tourism, too. That includes the newly-opened Virgin Hotel-Casino. This property opened recently and has been a hit with both locals and tourists. 

Resorts World Las Vegas is finally opening its doors to the public this summer. It cost $4.2 billion to construct, making it the most expensive gaming venue ever built in the city. This property is expected to be one-of-a-kind. We’ll be sure to offer updates on this property once its opening date draws closer! 

Are you surprised to hear the Ilitch family purchased a stake in the Ocean Casino Atlantic City? Let us know in the comments section below!

Tourism Figures in Las Vegas are Increasing Once Again

LV Strip View

Las Vegas is slowly but surely returning to a sense of normalcy. Lately, the city has been experiencing a steady increase in visitors. New reports on the tourism figures in Las Vegas are now coming out and point to some major improvements.

There are some interesting trends that Las Vegas is beginning to experience. Now is a great time to talk about how things are changing here. We’ll also look at how the city may fare for the rest of 2021.

Let’s check it out!

Casino Destinations Prepare for a Successful Summer

Casino hubs have been struggling tremendously over the past few months. Prior to 2020, places like Atlantic City and Las Vegas were thriving. Since March of last year, however, the entire casino industry has been hurting.

Over the summer of 2020, US casino hubs began to experience a rebound. Travel started to increase and gaming revenue began to ramp up. This didn’t last for long, though, and by August these cities were hurting badly once again.

Fortunately, it appears that this summer will be a good one for US casino companies. Vaccine distribution continues to ramp up around the country. As a result, travel is beginning to surge around the United States, as well.

Many analysts now believe that this summer will be a special one for places like Las Vegas. There are several new casino-resorts opening here that are expected to boost tourism rates. That includes Resorts World Las Vegas, the most expensive gambling property ever built here.

It now seems that the tourism situation in Las Vegas is already beginning to improve in a big way. We’re seeing major boosts in the number of people coming here and casinos are seeing revenue increases, as a result. More reports on tourism here are now coming out every week.

There are some interesting things that we are beginning to see in Las Vegas. Here’s what you need to know about the evolving tourism situation in the city.

Tourism Figures in Las Vegas are Jumping Once Again

No city in the United States relies on tourism quite like Las Vegas does. A massive number of the businesses here need tourists to survive. The events that unfolded last year took a massive toll on these businesses.

Just about everyone has been wondering when tourism figures in Las Vegas will reach pre-pandemic levels. It’s clear that this could take years. It is also clear that things are improving here and this summer should be a successful one for the city.

New reports show that older Americans are now making the journey to Las Vegas. Casino companies in the city have been reporting major increases in older visitors lately. This seems due to the increase in vaccine distribution around the country.

Gaming consultant Josh Swissman spoke about this situation to the media this week. He directly credits the increase in vaccines for the recovery of Las Vegas.

“As more of the older end of the customer spectrum receives vaccines and becomes more comfortable with leaving their houses… That for sure means they’ll start to step out and go back to their favorite casinos again,” he said. 

An increase in older visitors is proof that Las Vegas is slowly returning to normal. The tourism numbers here are expected to continue surging over the next few months. If all goes according to plan, this summer will be one of the most successful months for the gaming industry here in years. Stay tuned for updates on this situation!

Gaming Revenue is Still Fluctuating Around the US

Las Vegas is far from the only city in the country to experience dips in its gambling revenue lately. All of the country’s major gambling destinations have seen massive revenue declines since March of 2020. Even today, there are major fluctuations in revenue figures from different casino hubs.

New Jersey has been expanding its gambling industry for years. This past February, revenue here from the land-based casino industry dropped by 32%. It’s a significant drop from what the state was seeing a little more than a year ago.

Louisiana is home to one of the largest casino industries in the southern United States. Interestingly, this state experienced a 28.9% dip in gaming revenue when compared to February of 2020. Most expect this trend will change as the warmer months approach.

Even the US sports betting industry experienced a slowdown in February. States around the country reported significant drops in their sports gambling revenue figures. Much of that is due to players winning their Super Bowl wagers.

It’s an interesting time for the country’s gaming industry. There seem to be some major improvements with casino hubs around the country. We’ll continue offering updates here as the months go on.

When do you expect tourism figures in Las Vegas to reach pre-pandemic levels? Let us know in the comments section below!

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!

What’s Happening With Las Vegas Sands in Singapore?

Marina Bay Sands

Las Vegas Sands remains one of the biggest and most powerful casino companies in the world. Not long ago, the company sold some of its major US properties to focus more on operations in Asia. There are still issues the company is facing, though. Today, we’ll talk about what is happening with Las Vegas Sands in Singapore.

LVS owns a major casino-resort in Singapore called the Marina Bay Sands. Recently, this venue has been under investigation for money-laundering.

Here’s what you need to know!

Las Vegas Sands is Now Focusing on Operations in Asia

The world’s casino industry is still in bad shape. That is particularly true in the United States. Major US casino companies have been seeing massive revenue declines for more than a year. Many have been forced to take drastic action to make up for these losses.

That includes Las Vegas Sands. This company is known to own and operate some of the most opulent gambling venues in the world. Unfortunately, the company’s revenue figures have been low for the past year.

News recently broke that Las Vegas Sands had sold some of its biggest gambling venues in the US. That includes The Venetian in Las Vegas, Nevada. These sales were made in order for LVS to focus more of its operations on the Asian market.

Macau is a major focus point for the company. Las Vegas Sands operates many of the biggest and best gambling properties in the city of Macau. This territory seems to be recovering faster than the US market and is helping to bring Las Vegas Sands some much-needed revenue.

Singapore is also a city that is important to Las Vegas Sands. LVS owns one of the most successful casino-resorts in the city. Unfortunately, it seems that this property is now in hot water over reports of illegal activity.

Officials within Las Vegas Sands are now investigating this issue. Now, we’ll talk about why this venue is being looked at.

There’s an Investigation into Las Vegas Sands in Singapore

Singapore is now one of the biggest casino destinations in Asia. Several major casino-resorts are based here including the Marina Bay Sands, owned by Las Vegas Sands. This venue opened its doors to the public on April 27, 2010.

It’s been a major success over the years. Millions flock to this venue every year to take part in the gambling and entertainment options it offers. Unfortunately, new reports claim that this property is now being investigated for potential money laundering activities.

A committee of three independent board members is now investigating money transfers from high-rollers to other players at this property. It comes after an investigation was announced by a major US law firm. This all began after one high-roller revealed that millions of his dollars were transferred to another player without his knowledge.

Law officials in Nevada and Singapore have not yet commented on this issue.

It now appears that many more of these transfers took place between 2008 and 2018. These wires seem to be legal on the surface. There are questions, however, about whether or not doing so without specific permission is allowed.

This is the last thing that LVS needs to deal with right now. The company has been under serious pressure lately after the selling of The Venetian and the death of founder and longtime CEO Sheldon Adelson.

It’s unclear exactly how this situation will play out. The most likely option would be a change of policy and perhaps a fine. It seems highly unlikely that the Marina Bay Sands would be ordered to shut down over this investigation.

The casino industry in the United States is beginning to improve. We’re starting to hear more about what will lead to the recovery of Las Vegas.

Analysts Expect a Successful Summer for Las Vegas Casinos

The city of Las Vegas remains the world’s biggest casino destination. This relatively small city in Nevada is home to many of the most successful gambling venues on the planet. Since March of 2020, however, gaming revenue here has been on a steady decline.

There are signs that things are improving here, though. Gambling revenue has been slowly increasing here in recent months. Tourism figures are surging and casinos are increasing their operating hours, as a result.

Many analysts now expect a successful summer for the casinos in Las Vegas. Travel is beginning to jump around the country and it seems that a major tourism boom will be experienced here over the summer.

The opening of new properties should also result in a tourism boom. Many are excited to see Resorts World Las Vegas finally open this summer. It cost $4.2 billion to construct, making it the most expensive gambling venue to ever open its doors here.

There is a lot happening with major US casino companies. Hopefully, the situation with Las Vegas Sands in Singapore ends up being settled without any major issues. We’ll be sure to offer updates over the next few weeks.

What do you think about the situation with Las Vegas Sands? Let us know in the comments section below!

Casino Jobs in Las Vegas are Still Difficult to Find

Las Vegas City

Las Vegas is slowly beginning to see a surge of new visitors and casino openings. It seems as if the city is recovering, yet things are still far from normal in this city. According to new reports, casino jobs in Las Vegas are still hard to come across.

Many of the long-time workers in this city are still struggling to find jobs right now. It’s an unfortunate situation and one that will take time to fix. Today, we’re going to talk about what will lead to more of these gaming jobs coming available here.

Let’s get into it!

Gaming Revenue in Las Vegas Dropped in February

It has now been more than a year since the mass casino shutdowns throughout Nevada. This was one of the most impactful moments in the history of the state. Major gaming hubs here such as Las Vegas immediately saw their tourism industries come to a screeching halt.

This took a devastating toll on these cities. Las Vegas relies heavily on tourism. A massive amount of the jobs here also need tourists. Back in March, no one seemed to know how long these casino shutdowns would remain in place for.

It wasn’t until the summer that Governor Sisolak gave permission for the casinos in Las Vegas to open again. Over the course of a few months, most of the major casino-resorts in the city opened their doors. Unfortunately, this did not lead to an immediate surge in tourism here.

As infection rates increased, tourism rates in the city dropped. Lately, however, the city has seen a surge of new visitors. The increase in vaccinations around the country seems to have resulted in a major surge of travel to entertainment destinations such as Las Vegas.

Things are still far from normal here. Gaming revenue in Nevada dropped by 25% in February when compared to the same month in 2020. Casinos throughout the state reported winnings of $772 million last month overall.

Many of the jobs here prior to 2020 are not around anymore. We’re now beginning to hear more about the large number of workers in the city still trying to find employment in the gaming industry.

Workers Complain About the Lack of Casino Jobs in Las Vegas

Not long after the casinos shut down in March of 2020, casino workers were furloughed from their positions. It was a tough blow for these employees and hope was that it wouldn’t last long. Many of these furloughs eventually turned into real layoffs.

Many of these positions still have not yet become available. That includes Analia Ayala’s position as a corporate employee at MGM Resorts International. She spoke to the media this week and revealed some of the difficulties in trying to find new casino jobs in Las Vegas right now.

“It’s been a nightmare having to deal with unemployment,” she said. “I have friends in similar situations where it’s been difficult for them to find a job. “The job market it’s, it’s just not there. I’ve applied to hundreds of jobs every day. I finally got so exhausted I said I’m done, I need a break and then I did, I think I took, I think a month to just collect my thoughts, see what I’m going to do next.”

This isn’t completely new to Las Vegas. The competition for jobs in the casino industry here is high. The situation the city now finds itself in makes this prospect even more difficult. Many are still searching for a similar position to what they had earlier last year.

There are signs that Las Vegas is improving and that will certainly help. Tourism is up and casino-resorts are expanding their hours. Hope is that this leads to a major increase in open jobs by the time summer rolls around.

The opening of brand-new casinos should also help with this. One new venue just opened its doors and another plans to do so in just a few months!

New Casinos Will Bring More Las Vegas Casino Jobs

The events that unfolded last year were unprecedented. No one could have predicted that the city of Las Vegas would need to shut down for months. As a result, many of the gaming companies here were unprepared.

Several new casino-resorts are coming to this city this year. That includes the Virgin Hotel-Casino located where the former Hard Rock Hotel-Casino used to stand. It’s Virgin’s first foray into the casino game and has already been a hit with many visitors and locals.

This summer, Resorts World Las Vegas will finally open its doors. This property cost an astounding $4.2 billion to construct and is expected to be one of the most impressive venues ever opened in the city. It’s expected to bring even more visitors to the northern area of the Strip.

Resorts World is already helping to bring more jobs into Las Vegas. Not long ago, reports surfaced claiming that tens of thousands of job applications were flowing into this venue. Many have been eager to secure a position at the coolest new property in the city.

New entertainment options are also coming to Las Vegas. This will help to bring more visitors and hopefully allow more venues to open here in the future. Stay tuned for updates on the employment situation here over the next few months.

Have you found it difficult to find casino jobs in Las Vegas? Let us know in the comments section below!

Gaming Revenue in Nevada was Down More than 25% in January

Las Vegas City

Nevada is still seeing major drops in its gaming revenue. The start of 2021 proved to be significantly worse than the beginning of last year. Reports on gaming revenue in Nevada are now out and many are surprised to see where things stand.

Today, we’ll talk about how much money the gaming industry in Nevada managed to bring in this January. We’ll also discuss how the state’s casinos may recover throughout the rest of 2021.

Let’s get into it!

The Virgin Hotel-Casino in Las Vegas is Now Finally Open

Most of the world’s greatest casino-resorts are located in Las Vegas. This city is a true gaming destination and casino companies invest billions of dollars to open new properties in this city. Every few years, an exciting new casino opens its doors here.

The Virgin Hotel-Casino has been under construction here for years. Many have looked forward to seeing what this venue has to offer. It is Virgin’s first casino and the company worked hard to ensure it was one of the best new venues in Las Vegas.

There have been many delays getting this hotel-casino open. Finally, this property is ready to open its doors! The Virgin Hotel-Casino is officially set to open today and many are flocking to Las Vegas to see what is available.

The opening of this new hotel-casino may help to boost tourism into Las Vegas. This city has been working hard to attract more visitors lately. New properties like the Virgin one is a great way to achieve that goal.

This isn’t the only new property opening in Las Vegas this year. Resorts World Las Vegas is expected to be one of the best new casino-resorts in the city. It is currently scheduled to open its doors sometime this summer.

Unfortunately, gaming revenue remains very low around Nevada. We’re now beginning to hear how much money Nevada’s gambling industry managed to bring in this January.

Here’s a Look at Gaming Revenue in Nevada for January

Back in January of 2020, Nevada’s casino industry was surging. Tourism numbers into Las Vegas were high and casinos here were earning huge amounts of revenue every month. Just a few months later, this industry completely shut down.

Nevada’s gaming industry is still trying to recover. It’s becoming more clear that this will take a large amount of time. Reports on gaming revenue in Nevada are now out and many are surprised to see where the numbers stand.

Reports have confirmed that gaming revenue in this state in January dropped by 26% when compared to the same month in 2020. The state earned $761,847,813 this January. That is a significant dip and shows how far the state still has to recover.

Interestingly, the Las Vegas Strip saw the biggest decline. This small area of the city experienced a 43% revenue drop. Overall, the Strip brought in just $321,527,682 this past January.

There are some signs that things are improving, though. Tourism rates are increasing and revenue has been surging lately. Much of this has to do with Governor Sisolak’s decision to remove certain restrictions on businesses here.

Hope is that February ends up being a significantly better month for the state’s gambling industry. Signs indicate that it will be. Stay tuned for updates on the revenue figures here over the next few weeks!

Other States Report Major Revenue Declines

Nevada isn’t the only state to experience a major drop in its revenue figures. Reports have come out this week that show many other states also saw massive drops in their gambling earnings. It’s a tough time for casino companies around the country.

Louisiana saw a massive 23% drop in its gambling revenue this past February. Bad winter storms and heavy restrictions have led to this decline. The casinos here are faring significantly better in March and should report much larger earnings.

Indiana reported losses of 30% last month when compared to January of 2020. That is one of the biggest drops in recent history. Like Nevada and Louisiana, things seem to be improving here in March, though.

The entire US casino industry has a long way to recover. No one seems to know when exactly we will see pre-pandemic revenue figures. Casino markets are improving lately and there are some promising signs on the horizon.

Nevada has some exciting things to look forward to. New properties should help to significantly boost revenue here. Stay tuned for more in-depth revenue reports to surface as the year goes on!

Are you surprised to hear that gaming revenue in Nevada dropped so much in January? Let us know in the comments section below!

Penn Gaming’s Revenue Has Been Surging Lately

Penn Gaming

For more than a year, major casino companies across the US have seen major drops in their monthly revenue earnings. There are some clear signs of recovery lately. New reports claim that Penn Gaming’s revenue has been increasing significantly over the past month.

It’s fantastic news for this company. Today, we’ll talk about what has led to this surge in revenue. We’ll also talk about some of the ways that Penn National Gaming has been expanding over the past few years.

Let’s get into it!

Casino Revenue is Fluctuating Around the US Right Now

The US casino industry suffered a huge blow in March of 2020. As most know, this was the month when nearly all casinos across the country were ordered to shut down. It took months for any of the casinos here to reopen.

Reviving this industry proved to be significantly more difficult than most predicted. Many states began allowing their commercial casinos to start operating in the early summer. Unfortunately, many were forced to shut down again by the time the fall approached.

Lately, casino revenue has been fluctuating around the country. Some major gaming hubs such as Nevada have been seeing increases in their tourism numbers. Other, smaller casino destinations have seen drops due to poor weather and a jump in infections.

There is reason to be optimistic for the rest of the year. Vaccine distribution is up and travel is beginning to increase around the country. There are several exciting new casino-resorts scheduled to open in Nevada over the next few months that are expected to boost tourism numbers.

That is great news for the many different casino companies around the US. Many have seen massive revenue declines since early last year. It is finally beginning to look as if there is light and the end of the tunnel for these casino operators.

Some of these companies are already seeing big surges in their revenue figures. That includes Penn National Gaming, one of the fastest-growing casino companies in the country.

Penn National Gaming Reports Major Revenue Surges in March

Most familiar with the US gaming industry have heard of Penn National Gaming. This company now owns and operates 41 different gaming venues around the country. It’s also becoming a major player in the quickly-emerging US sports betting industry thanks to its partnership with Barstool Sports.

Throughout most of 2020, Penn National Gaming saw massive declines in its revenue figures. Fortunately, it seems that things are turning around. CEO Jay Snowden spoke to the media this week and claimed that revenue in March is surging in a way that no one predicted.

“What we’re seeing right now in the business … is revenues and volumes that I haven’t seen in years. The month of March has been incredible,” he said. “We saw really high spend per visit when people came, but the visitation was still way down year over year because those that were 65-plus years old weren’t coming back.”

It seems that the increase in vaccines is helping casinos in a major way. Snowden claims that it’s leading to a major increase in casino visitations. He also claims that sports betting revenue from March Madness is helping to boost Penn Gaming’s revenue.

This is great news for Penn National Gaming and other casino companies around the country. It seems that the US gaming industry is finally beginning to bounce back. Major casino hubs such as Las Vegas and Atlantic City are likely to see major boosts in revenue as the year goes on.

Las Vegas, in particular, is expected to see huge surges of tourism this summer. Here’s a look at what will lead to this tourism surge.

What Will Help to Boost Tourism Rates in Las Vegas?

Las Vegas is one of the most-visited cities in America. Under normal circumstances, more than 40 million people would flock here every single year. Since March of 2020, however, tourism numbers here have been very low.

It’s clear that things are beginning to recover, though. Effective vaccine distribution is leading to a major surge of travel into Las Vegas. The casinos here are now operating at 24-hours a day and have been seeing large increases in revenue.

This vaccine distribution seems to be the primary reason for this surge in tourism. It also seems likely that the opening of new casinos here are bringing in more visitors. Several exciting new properties are set to open here over the next few months.

The Virgin Hotel-Casino opens its doors tomorrow! This venue is Virgin’s first casino and is expected to be fantastic. There are some fun things being planned for the venue’s grand opening.

Resorts World Las Vegas is expected to be one of the biggest and best casinos ever built in Las Vegas. It cost $4.2 billion to construct and is a true state-of-the-art masterpiece. Many are excited to see what this venue has to offer.

Are you surprised to see Penn Gaming’s revenue increase again? When do you expect tourism numbers in Las Vegas to reach pre-pandemic levels? Let us know in the comments section below.