Online Sports Betting in PA Continues to Bring in Revenue

Sports betting first became available in Pennsylvania in late 2018. Over the past couple of years, this industry has grown extremely popular here. New reports show that online sports betting in PA makes up for about 90% of all sports wagers placed.PA State Seal

This isn’t much of a surprise. Online gambling is growing more popular around the entire country. Now is the perfect time to check out how much revenue Pennsylvania’s sports betting industry is managing to bring in.

Let’s get into it!

Pennsylvania’s Gambling Revenue Continues to Fluctuate

Not long ago, Pennsylvania took a somewhat hardline stance towards the gambling industry. This is no longer the case. Today, just about all forms of gambling are available here. Revenue from this industry has fluctuated since these new gambling options became available.

In May of 2018, the Supreme Court struck down PASPA. This gave every state in the country the ability to legalize and regulate sports betting. Lawmakers in Pennsylvania immediately began taking steps to open this sports betting industry and by November of that year, it became legal.

That wasn’t the only form of gambling to recently become available here. In November of 2019, lawmakers here started allowing online poker. This form of gambling has grown extremely popular in just a few months.

Pennsylvania’s gambling industry is growing bigger every single month. It has a lot of competition, though. New York, New Jersey, and Delaware all have surging gambling industries, as well.

This week, sports betting revenue reports became available here. Let’s take a look at how much this industry is managing to bring in.

Revenue From Online Sports Betting in PA is Surging

Sports betting is growing more popular every single month. This is especially true in Pennsylvania. Last month, sports betting revenue here hit a new record.

More than $384 million was spent on sports wagers last month. These wagers were placed through the state’s eight online sports betting sites and 12 land-based betting venues. Revenue from this industry came out to $31.6 million in January.

Many believe that Super Bowl bets placed in January helped to increase revenue here. Interestingly, close to 90% of all the sports wagers placed in Pennsylvania last month were done online. FanDuel’s online sportsbook continues to be the biggest revenue earner for the state.

Land-based sports betting revenue actually dropped last month by 11.8%. This is the lowest revenue from brick and mortar sports betting venues since September. It’s clear that online sports betting in PA is beginning to take over.

Gambling competition remains very high in the northeast of the country. New York, in particular, is working hard to improve its gambling industry.

New York Continues Looking at Gambling Expansion Plans

New York is another state that’s only recently begun to embrace the gambling industry. Over the past decade, a huge number of casinos have opened in the Upstate area of New York. Unfortunately, the large number of gaming venues in this state is making it hard for the casinos here to be profitable.

To help with things, lawmakers in this state decided to legalize sports betting. Hope was that it would draw in more people to the state’s land-based casinos. That hasn’t necessarily been the case.

Things do seem to be improving, though. Each of the four casinos in Upstate New York is starting to see revenue increases. Resorts World Catskills, one of the biggest casinos in the state, saw its revenue increase by 48% last year. Lottery ticket sales are decreasing here.

State officials continue discussing the possibility of allowing sports bets to be placed online. Lawmakers in New York are beginning to see how much revenue is being earned from online sports betting in PA. Many believe that online sports wagering will become legal here within a year or two.

Pennsylvania’s sports betting industry continues to grow. Other states are beginning to take notice. We’ll need to wait and see how much revenue from this industry grows for the rest of the year.

Stay tuned for more Pennsylvania gambling news over the next few months!

Macau’s Casinos Are Opening Back Up

Earlier this month, officials in Macau decided to shut down all of the territory’s casinos. This came in an attempt to stop the spread of the coronavirus. This week, Las Vegas casino companies are beginning to celebrate, as Macau’s casinos are opening up again.Casinos In Macau

The spread of the coronavirus seems to be slowing down. With casinos in Macau opening back up, many of the biggest casinos in Las Vegas can start generating revenue in this territory again. Today, we’re going to look at what’s happening here.

Let’s get into it!

Macau Coronavirus Infection Rates Seems to be Slowing

If you follow the news, there’s a good chance you’ve heard of the coronavirus spreading throughout China. The first cases of this virus popped up in December and were traced to a seafood market in Wuhan that sold illegal wildlife. Since that time, it’s spread rapidly all over the country and abroad.

At first, it was unclear just how deadly the coronavirus was. Its ability to spread was apparent, yet the virus didn’t seem quite as deadly as the SARS virus of the early 2000s. The death toll has now surpassed SARS by a large margin and researchers are understanding how serious of an issue this is becoming.

Officials in China have been working hard to stop the spread of this coronavirus. Based on new reports, these efforts are paying off. Infection rates have begun to slow down, which could indicate that the virus is beginning to taper off.

That doesn’t mean things are completely safe. There are still thousands of new cases of the virus popping up every single day. The world is very aware of the danger that’s out there.

The coronavirus has taken a serious toll on many Las Vegas casino operators. As we mentioned earlier, casinos in Macau were closed down due to the Wuhan coronavirus. Now, it appears they are set to open back up. Here’s what’s happening.

Macau’s Casinos Are Set to Open Once Again

It’s been weeks since Macau’s casinos have been opened to the public. Officials in the territory felt that closing these venues down would help to prevent the spread here. On Friday, these massive gaming venues will finally open back up.

This includes the properties owned by Wynn Resorts, Las Vegas Sands, and MGM Resorts International. These Las Vegas-based companies were losing millions of dollars every day due to the casino closures. It also took a serious toll on these companies’ stock prices.

Lei Wai Nong announced that the city’s casinos will officially open on Friday. That makes it 15 days since they were first shut down. Obviously, the Las Vegas companies have reason to celebrate.

It’s still unclear when Macau’s other public facilities will open up. This includes movie theaters, internet cafes, and gyms. As the virus begins to taper off, more venues in this city will be given permission to reopen.

When operating normally, Macau’s casinos bring the territory millions of dollars every single month. Unfortunately, this territory has been plagued with bad luck lately. We’ll need to wait and see how much revenue increases here once the gaming establishments are back up and running.

Las Vegas Gaming Revenue Continues to Increase

Macau’s gambling industry is struggling right now. Even before the coronavirus hit this small city, things weren’t great. A slowing Chinese economy has lessened the number of gamblers visiting Macau.

Over in Las Vegas, however, things are going smoothly. This city has experienced an increase in gaming revenue for the past few months. It’s a fantastic time to be a casino operator here.

This isn’t likely to slow down anytime soon. Over the next year, several major casino-resorts are scheduled to open in this city. This includes Resorts World Las Vegas, the most expensive hotel-casino ever built in this city.

Once Macau’s casinos open up again, many of the biggest companies in Las Vegas will see their revenue earnings increase. Many of these companies continue to invest billions of dollars into the territory, despite the trouble Macau has been facing.

The Wuhan coronavirus is still a major issue in China. It’s unlikely that Macau’s casino industry will start surging right away. Eventually, however, this city may become the world’s largest gambling hub once again.

Stay tuned for more Macau casino news over the next few weeks!

Cherokee Nation Reveals Study on New Russellville Casino

Arkansas’ casino industry is growing rapidly. Since 2018, Class III gambling venues have been able to operate here. The state’s Native American tribes have been preparing to open new casinos in the state ever since. This week, the Cherokee Nation revealed a new study that shows how much revenue the new Russellville casino will generate.Arkansas

It’s a great time to be a casino fan in Arkansas. Several new gaming venues are scheduled to open here over the next few years. Today, we’re going to look at how much money a casino-resort in Russellville could generate.

Let’s get into it!

Arkansas Finally Expands Its Gambling Industry

Arkansas hasn’t always been a gambling hub. In fact, most traditional forms of gambling were banned here until fairly recently. Finally, in 2018, lawmakers in this state decided it was time to make a change.

A bill was passed that year that allows four Class III casinos to open in the state. These venues will be operated by Native American tribes. Not long after this bill was passed, tribes began coming up with casino plans.

Arkansas also now allows sports betting. In July of 2019, the first legal sports wager was placed here.

There are now several popular gaming venues in this state. One that’s beginning to generate serious revenue is the Southland Casino. Recently, this casino began offering its first sports betting options just in time for the Super Bowl.

More casinos are scheduled to open here over the next few years. The Cherokee Nation has worked hard to have plans for a new Russellville casino approved. This week, the tribe released information about how much revenue this new casino could generate for the state.

The New Russellville Casino Will Generate Billions

Arkansas is shaping up to be a major new casino market. All of the casinos that open here are likely to be successful. According to the Cherokee Nation, the new Russellville casino will be a serious revenue generator.

The tribe released a study that indicates this casino will generate billions of dollars. An economic impact of more than $3 billion is expected over the first 10 years of operating. This study was made by the Economic Impact Group, which used information from six different counties to form these statistics.

Chuck Garrett, CEO of Cherokee Nation Businesses, commented on the report to the media this week.

“In forming our plans for Legends Resort & Casino, we turned to a network of experts to help us understand how this project would impact the region’s economy,” he said. “It was fitting for us to engage this research through Dr. Russell Evans and EIG who are already very familiar with current CNB operations.”

The study also claims that more than 1,700 jobs will become available once the casino is up and running. Lawmakers are likely to see these figures and should give the green light to begin construction within a couple of months.

Casinos Already Generate Millions in Tax Money for Arkansas

Most analysts predicted that Arkansas would become a hot casino market. These predictions seem to be correct. Since casinos began opening here, revenue from this industry has been skyrocketing.

In October of 2019, a revenue record was set. Casinos in the state brought in an incredible $554.4 million. That beat the state’s forecast by $36.8 million. With sports betting now up and running, revenue earnings are increasing even more.

The new Russellville casino will be a major revenue generator for the state, as well. If the estimates are correct, it will bring in billions to the state within a decade.

As of now, only four casinos are allowed to open here. That may change in the future. As time goes now, state officials may decide to allow more gambling venues to start operating.

We’ll need to wait for the state to approve the Cherokee Nation’s new gaming venue. Stay tuned for updates over the next few months!

MGM Springfield Continues to Disappoint

In August of 2018, MGM Springfield officially opened its doors to the public. Since that time, the Springfield, Massachusetts gambling venue has struggled to generate revenue. Officials within MGM Resorts International spoke about the low revenue figures to the media this week.MGM Springfield

This venue has been a major disappointment for one of the country’s biggest casino operators. Today, we’re going to talk about why this is. We’ll also discuss what steps MGM may take to change this downward trend.

Let’s get into it!

Massachusetts Proves to Be a Difficult Casino Market

For many years, lawmakers in Massachusetts banned all forms of casino gambling. In 2011, the state finally agreed to a set of laws that allows three new land-based casinos to open. In 2018, MGM Resorts International opened the state’s first gambling venue in the city of Springfield.

Expectations for this venue were high. Many considered Massachusetts to be one of the most lucrative new casino markets in the country. By the time MGM Springfield opened up, almost everyone agreed it would be extremely successful.

For a time, these theories were correct. MGM Springfield drew in many visitors early on and began generating serious revenue. As time went on, however, these earnings began to drop. One reason for this was the opening of Wynn Resorts’ Encore Boston Harbor casino-resort.

This new casino instantly captured a huge portion of the MA casino market. Many gamblers who previously gambled inside MGM Springfield began making the switch to the Encore. It was a tough break for MGM Resorts International, who didn’t anticipate their market to be taken over so quickly.

Despite the company’s best efforts, things don’t seem to be improving for MGM Resorts. A company official spoke about this disappointing performance to the media this week.

MGM Springfield Still Struggles to Generate Revenue

MGM Resorts International has been undergoing some massive changes in recent months. Last year, the company sold some of its biggest properties in Las Vegas. Just last week, CEO Jim Murren announced he’s stepping down.

There’s a lot to juggle here. Murren is continuing to run the company until a replacement is chosen. This week, Murren commented on the MGM Springfield property and doesn’t seem pleased with the venue’s performance.

“MGM Springfield has admittedly performed below our expectations, and we’ve recently made some changes there to better position the property,” he said. 

It’s surprising for some to hear that MGM continues to invest in this venue. Many expected the company to sell it and simply take the losses. That does not appear to be the case.

For now, MGM Resorts International wants to continue running its only Massachusetts property. With some changes, perhaps this venue can once again capture the state’s market.

Massachusetts isn’t the only area that MGM is continuing to invest in.

Macau May Soon Become Profitable Again For MGM Resorts

Macau is one of the world’s largest gaming markets. Many of the world’s top casino companies invest in property here, including MGM Resorts. Unfortunately, revenue from this territory has been dropping for more than a year.

Throughout 2019, tourism in Macau was down. The US-Chinese trade war had taken a toll on China’s economy, causing fewer nationals here to gamble. Macau relies on Chinese high rollers and as less began visiting here, revenue started to tumble.

Recently, the coronavirus has hurt this territory. As the 2019-nCoV virus spreads throughout China, less people are able to travel into Macau. Recently, officials in this territory decided to shut down all the casinos in order to prevent infections.

This casino shutdown is costing companies millions of dollars a day. It finally seems as if infection rates are beginning to even out and Macau may finally become a profitable casino market once again. Several investment groups have recommended people buy stock in MGM Resorts as the Macau situation improves.

2020 will be an important year for MGM Resorts. Hopefully, the company’s new CEO can be even more successful than Jim Murren.

Stay tuned for more casino news over the next few months!

Revenue From Upstate NY Casinos is Slowly Increasing

Over the past couple of years, New York lawmakers have worked hard to expand their casino industry. Unfortunately, revenue from Upstate NY casinos failed to increase for months. New reports indicate that in 2019, things began to turn around for casinos in the Upstate area.Flag Of New York

Lawmakers in this state are looking to earn more money from the gambling industry. More gaming options may soon become available here. Today, we’re going to look at how the Upstate casinos performed in 2019.

New York’s Expanded Casino Laws, Explained

For decades, New York was considered a very anti-gambling state. Lawmakers here implemented a blanket ban on casinos back in the late 1800s. Despite laws against it, many small, illegal gambling venues continued to operate in the state.

Eventually, state officials began allowing horse race wagering. In the 1950s, lawmakers decided to legalize bingo and five years later, opened a state lottery. It wasn’t until the late 1980s that officials began looking at the possibility of legalizing casino gambling.

In 1989, the Supreme Court passed the Indian Gaming Regulatory Act. This set of laws made it legal for Native American tribes to operate casinos on sovereign land. Not long after this bill was approved, New York began allowing the state’s tribes to run gambling venues.

In 2013, lawmakers completely changed their stance and decided to officially legalize commercial casinos. Since that time, several of these gambling venues have opened up, most of which are in the Upstate area. Unfortunately, revenue from Upstate NY casinos hasn’t been quite as high as many initially predicted.

There are several reasons why this is. Most cite the competition as the primary reason why these casinos have struggled to make money. According to new reports, things are beginning to improve.

Revenue From Upstate NY Casinos is Going Up

It hasn’t been an easy road for casinos in New York. As we just mentioned, almost all of these are located in the Upstate area. Many are within close proximity to each other. Competition is extremely high here and just about every single casino has struggled to bring in players.

It seems things are improving, though. The four casinos in Upstate New York are beginning to see an increase in gaming revenue. Each one saw its revenue increase last year.

Resorts World Catskills, one of the largest casinos here, saw a massive 48% jump in revenue. In total, revenue at Upstate NY casinos increased by 18% last year. That’s fantastic news for the state, as lottery sales dropped by more than 35%.

Bob DeSalvio, president of Genting New York State, says he’s not surprised to see things start to get better.

“If you look at the history of regional gaming properties over their lifetime, it’s about two years for them to really click in,” he said. “A 24-month ramp up period is not unexpected in today’s environment.”

There has been fear that the state’s casino industry might fail. Lawmakers have discussed new ways to help these gambling venues generate more money. Things are beginning to improve, and new sports betting options may help make things even better.

New Sports Betting Options Might Be Coming to New York

In May of 2018, the Supreme Court officially struck down PASPA. This decision immediately gave every state in the country the ability to legalize sports betting. Today, more than 20 states have decided to legalize this form of wagering.

New York began working to legalize sports betting in early 2019. On July 16th of that year, the first sports wager was placed here inside the Rivers Casino in Schenectady. As of now, only land-based sports betting is available in the state.

This could change soon, though. For months, lawmakers in New York have discussed legalizing online sports betting. Many feel this will help to increase revenue from NY casinos.

This is currently being decided in the courts. Officials argue that allowing online sports betting will help to bring the state more revenue and make things more competitive with New Jersey, which allows sports wagering to be made over the internet. It’s still unclear whether or not the courts will agree with this assessment.

Revenue at Upstate NY casinos is beginning to increase. State officials hope that this trend continues. We’ll need to wait and see whether or not these officials can succeed in allowing online sports wagering.

Stay tuned for more updates over the next few months!

Half the US Population May Soon Have Legal Sports Betting Options

For nearly two years, the US has begun to embrace the sports gambling industry. A huge number of states now allow sports betting and many more have plans to legalize this form of gambling over the next few years. New reports indicate half the US population may soon have legal sports betting options.Map Of The US

It’s great news for sports fans in the country. The US is finally catching up to Europe, where sports betting is hugely popular for decades. Now is the perfect time to look at how this industry has evolved and what to expect in the future.

Let’s get into it!

The Removal Of PASPA Changed the US Gambling Industry

The United States has always been a passionate sports country. Unfortunately, sports gambling was banned here for many years. Lawmakers here approved PASPA in 1992, essentially killing the sports betting industry. This set of laws made it illegal for any state besides Nevada to offer sports betting odds.

For Nevada, this was actually a good thing. A huge number of tourists would flock to different Las Vegas casinos just to enjoy the legal sports betting options available. The city earned millions in sports gambling revenue every month.

In May of 2018, things took a massive turn. After years of lobbying from New Jersey, the Supreme Court finally decided to overturn PASPA. Immediately afterward, every state in the country had the ability to set its own laws on sports betting.

Many states began instantly crafting legislation to legalize this industry. New Jersey almost immediately allowed casinos in Atlantic City to offer sports betting odds. Today, more than 20 states now have legal sports betting options available.

It’s clear that sports betting is becoming the norm in the US. Lawmakers here recognize how much revenue can be earned from the industry. A new report detailed just how popular this form of gambling may soon become in the near future.

Bank of America Reports on the Growth of Legal Sports Betting Options

As we just mentioned, nearly half of the states in the country now have legal sports betting options available. That doesn’t mean that half the population can place bets legally in their home state, though. Some of the biggest states in the country such as California and Texas have yet to approve any sports gambling legislation.

According to a new report, though, this could soon change. Bank of American claims that more than 50% of Americans will soon have sports gambling options available in their home state by 2022. The bank also states that revenue from this industry will reach $20 billion in the same time period.

“We think the success, adoption and technology behind online and mobile sports could be a catalyst for wider iGaming penetration, a notable shift for an industry that has thus far not been widely impacted by the Internet,” said Shaun Kelley, a research analyst at Bank of America. 

Unsurprisingly, a huge number of companies are now investing heavily in the sports betting industry. Barstool Sports is set to open a sports betting platform. The company was recently valued at $450 million after securing a new deal with Penn National Gaming.

The sports betting industry is soaring right now. Even some of the biggest sports leagues in the country are getting on board. Here are some of the states that are poised to legalize this industry soon.

More States Gear Up to Legalize Sports Betting

When PASPA was first struck down, there was a debate as to how successful sports gambling would be in the United States. Some felt that it would never reach the same level of popularity as casino gambling. This is not the case.

It’s turned into one of the fastest-growing industries of all time. The amount of revenue that’s being generated is astounding. As a result, more and more states continue to push to allow legal sports betting options.

Analysts are following California’s road to sports betting legalization. This state is home to nearly 40 million people. If sports betting is legalized here, the amount of revenue that the state would earn is immense.

Several major states have already presented sports betting legislation. Many of these bills are likely to be approved over the next couple of months.

It’s a great time to be a betting fan in the US. Make sure to stay tuned for more US sports gambling news over the next few months!

US Sports Betting Revenue in 2019 Reached Record Levels

The popularity of sports betting is surging around the United States right now. Today, a huge number of states have legalized this industry. New reports indicate that US sports betting revenue in 2019 hit record levels.Sports Betting

It’s incredible, especially considering how new this industry is in the US. Today, we’re going to look at which states are profiting the most from legal sports gambling. We’ll also discuss where this industry is headed in 2020.

Let’s get into it!

More States Continue to Legalize Sports Gambling

For many years, sports betting was almost completely unavailable in the US. Only Nevada, which set laws on this form of gambling decades ago, was legally able to offer sports gambling options. In May of 2018, this all changed.

That month, the US Supreme Court decided to strike down PASPA. This immediately gave every state in the country the ability to set its own laws on sports gambling. Several states almost immediately decided to legalize sports betting after PASPA was removed.

New Jersey instantly began earning money from this industry. Both land-based and online sports betting are available in this state. Many individuals from nearby New York would make the trip into New Jersey specifically to make sports wagers.

Today, 21 states have decided to legalize this form of gambling. Even states with harsh laws on gambling such as North Carolina have made sports betting legal. Lawmakers in these states recognize how much money can be earned with legal sports betting options.

Over the next few years, it’s likely that almost every state in the country will begin offering legal sports gambling options. There is simply too much money from this industry for states to ignore. US sports betting revenue in 2019 exploded and is likely to continue in 2020.

US Sports Betting Revenue in 2019 Reaches New Heights

It’s clear that sports gambling is growing more popular every single month. It’s also incredible to see so many states embracing this industry. This week, for example, New Hampshire officially legalized sports gambling.

2019 is now over, and revenue reports for the year are beginning to surface. According to some of these reports, US sports betting revenue in 2019 hit new levels. More than $11 billion was spent on sports wagers in the country. Overall, more than $15 billion has been placed on sports bets in the country.

In terms of actual revenue, licensed bookmakers in the country earned more than $750 million. During the summer months, there was an average of $700 million being wagered on sports. It’s an astounding statistic that shows just how fast the US market has grown.

Initially, US sportsbooks planned to retain around a 5% margin on all bets placed. In reality, this number was closer to 7%.

Things aren’t slowing down, either. We’re now less than two months away from the 2020 Super Bowl. Based on the way things are moving, this will be the most-wagered on sporting event of all time.

2020 Will Be a Massive Year for the US Sports Betting Industry

It’s great to see US sports betting revenue in 2019 increase so much. A huge number of European sports betting operators are now attempting to break into this market. Some, such as William Hill, are now available in several different states.

2020 will be an absolutely massive year for the US sports betting industry. Many more states are likely to legalize this industry. There’s even a chance that California decides to make sports gambling legal.

At the moment, California lawmakers are debating with Native American tribes over sports betting regulations. These tribes want to ensure that sports betting becomes legal inside their casinos. They also want to ensure that revenue from this industry goes into their hands.

Hopefully, California is able to make this industry legal. More states such as Maine and Massachusetts will almost certainly open their betting markets.

US sports betting revenue in 2019 increased dramatically. It seems highly likely that revenue will increase even more in 2020. Make sure to stay tuned for more US sports betting news over the next few months!

Caesars Entertainment Reveals a “Solid” Third Quarter

More US casino companies are releasing their financial statements. Officials within Caesars Entertainment have just revealed the company’s third-quarter reports. Fortunately, the company managed to bring in some serious revenue over 2019’s Q3.Caesars Entertainment

This company is in the middle of some major changes. Today, we’re going to look at Caesars’ third-quarter reports. We’ll also talk about what’s in store for this company in 2020. Let’s get into it!

Quarter Three Proves Successful For Caesars

This week, Caesars Entertainment finally revealed the company’s financial statements for the year’s third quarter. Some analysts were concerned that the company was losing money. It was in the middle of a complete overhaul and many were unaware of the impact that this would have.

Fortunately, things are looking great. These reports show that Caesars generated revenue of $2.24 billion during Q3. This represents a 2.3% increase from the same time period in 2018.

This company also recorded a $68 million operating loss and a net loss of $359 million. Amazingly, Caesars still brought in a profit of $110 million. This is great news for shareholders. Caesars has been working hard to generate revenue in different ways this year.

Tony Rodio, CEO of Caesars Entertainment, commented on the revenue reports to the media this week.

“We are pleased to have delivered solid financial results in the third quarter with net revenue growth across all business verticals, despite headwinds across our portfolio. Revenue performance was driven by our Las Vegas region due to increased consumer demand, with particular strength in the hotel business which continues to outpace prior years across properties. Coupled with corporate expense reductions, this led to strong adjusted EBITDA growth as well as margin expansion.”

Majority of Revenue Came From Las Vegas

Unsurprisingly, the vast majority of revenue came from Las Vegas. It’s clear that Vegas remains the true hub for this company. Revenue from Las Vegas increased by 7% to $973 million.

Gamblers appeared to be unlucky during Q3. Reports show a 17.3% rise in gambling revenue in Las Vegas during these three months. Hotel occupancy was also up three points to 95.6%.

In other parts of the country, things weren’t quite as successful. Revenue from the rest of Caesars’ US operations fell by a little less than 1%. Significant losses were reported in Atlantic City.

Caesars Entertainment’s revenue from online gambling businesses and international casinos fell by 4% to $144 million.

Quarter four should be even better for Caesars. The company is set to receive an additional $516 from the sale of the Rio Hotel & Casino in Las Vegas.

Next year will represent a massive change for this major casino operator.

Caesars Entertainment Set to Merge With Eldorado Resorts

Back in June, Eldorado Resorts announced that it was set to purchase Caesars Entertainment for an astounding $17 billion. It’s the largest merger of two casino companies in history. Initially, it was said that this merger would be finalized before the end of the year.

Things are taking longer than expected, though. Now, it appears that this deal will be concluded sometime in 2020.

These two companies must gain approval from several state gambling commissions before this deal can be finalized. The Federal Trade Commission must also approve the merger. Officials want to ensure that this deal does not create a monopoly-like situation.

Both of these companies are selling properties, too.

Based on multiple reports, Caesars Entertainment is set to be taken over by Eldorado Resorts early next year. We’ll need to wait and see how this affects the US casino industry moving forward.

Q3 proved to be successful for Caesars. 2019’s fourth quarter is likely to be even better. Stay tuned for more US casino news over the next few weeks!

Atlantic City’s Ocean Casino is Making a Serious Comeback

Atlantic City is now considered one of the premier destinations in the United States. For years, Ocean Casino has been considered one of the worst gambling venues in the city. Recently, however, this hotel-casino has been posting some impressive revenue figures.

View Over Atlantic City

Owners of this venue are insisting that they’re not going anywhere. Today, we’re going to take a quick look into Ocean Casino’s recent revenue surge. Let’s get into it!

Atlantic City Continues to Bring in Major Revenue

About a year ago, Atlantic City was struggling to bring in any visitors. The recession had taken a major toll on this city and many of the top casinos here were forced to close down. Some felt that the city’s gambling industry was permanently destroyed.

Fortunately, this was not the case. Over the past decade, this city has slowly recovered. There are now many casinos here, most of which are bringing in massive revenue figures every single month. Some attribute this recovery to the city’s legalization of sports betting.

New Jersey was instrumental in getting PASPA struck down. It was the first state aside from Nevada to make sports betting legal. This form of gambling has become extremely popular here and attracts many visitors from states such as New York and Massachusetts.

For almost all of 2019, gambling revenue has increased in this city. Some of these casinos have managed to stand out from the rest of the pack. The Borgata Hotel & Casino, in particular, brings in millions more than any other gambling venue every single month.

Ocean Casino is consistently one of the lowest-earnings gambling venues in Atlantic City. Recently, it’s begun to make a comeback.

Ocean Casino Beings to Generate More Revenue

As we just mentioned, Ocean Casino is one of Atlantic City’s poorest-performing gambling venues. Almost every single month, this hotel-casino makes less than all others in the city. Over the past three months, however, it’s experienced a surge in gambling revenue. Owners are claiming that it’s a trend that will continue.

This establishment has seen double-digit revenue increases in July, August, and September. It appears that October’s revenue increased massively as well. Some are beginning to wonder if this venue will become one of Atlantic City’s next major casino resorts.

Mike Donovan, senior vice president and chief marketing officer of Ocean Casino, commented on these revenue figures to the media this week.

“If you look at our numbers, they speak for themselves,” he said. “We’re going to keep doing what we’re doing and build on the success that we’ve had this year. Ocean is going to be here for a long time.”

It’s amazing news for owners of this casino. There’s a lot to be excited about.

This year, Atlantic City and Las Vegas have been competing over sports betting revenue. How’s this battle playing out?

Atlantic City Now Considered Sports Betting Capital of the US

Sports betting has been legal in New Jersey for more than a year. Today, every casino in this state offers sports betting odds. These casinos also operate online casinos which help to generate a huge amount of money every single month.

This summer, New Jersey surpassed Las Vegas’ sports betting revenue. It was a historic moment, leading many to wonder what the future of the US gambling industry would look like.

Some of the top gambling analysts in the country now believe Atlantic City to be the US sports betting capital. That’s tough to argue against, as revenue here continues to increase almost every single month. Even Ocean Casino is generating serious money from its sports gambling operations.

Hope is that sports betting helps to keep Ocean Casino’s operations up and running. It’s a fantastic casino and one that’s working hard to compete with the city’s big dogs.

Stay tuned for more Atlantic City gambling news over the next few weeks!

Nevada Gambling Winnings Surpassed $1 Billion in September

The state of Nevada is experiencing some massive revenue gains this year. New reports indicate that Nevada gambling winnings surpassed $1 billion last month. It’s the fifth time in 2019 that casinos here have brought in more than a billion dollars.Nevada Sign On Highway

Things are clearly going well in this state. Today, we’re going to look at which forms of gambling brought in the most money here in September. We’ll also talk about which areas of the state managed to generate the most revenue. Let’s get into it!

Nevada Proves It’s Still the Casino Capital of the US

Nevada, and specifically Las Vegas, has always been considered to be the gambling capital of the US. Recently, however, several states have expanded their gambling industries. It seemed as if some parts of the country could overtake Nevada in terms of gambling revenue.

This is beginning to seem less likely. Nevada’s Gaming Control Board has confirmed that casinos in this state won more than $1 billion in September. In total, casinos here managed to bring in $1.059 billion.

It’s a massively successful number for the state, which heavily relies on gambling revenue to function.

Casinos have now generated more than a billion dollars for the fifth time this year. Nevada gambling winnings in September even set a new record. It was the most money ever made during this month. The previous record was held in 2007.

No other state can currently compete with Nevada’s gambling industry. New Jersey is pulling in impressive revenue figures, yet it’s not quite at Nevada’s level. We’ll need to wait and see how long this winning streak continues for.

Baccarat Helps to Boost Nevada Gambling Winnings

Baccarat is one of the most popular casino games in the world. In case you’re unaware, this is a common table game available in almost all Nevada casinos. It’s grown extremely popular over the years and has proven to be a huge earner for casinos around the country.

According to the Nevada Gaming Board, this game helped to generate a significant amount of money last month. Michael Lawton, a senior research analyst for the Gaming Control Board, commented on the earnings from this game to the media this week.

“Baccarat held 19.47 percent compared to a very weak 9.81 percent last year,” he said. “This stronger hold offset soft volumes, as baccarat volume totaled $557.1 million which was a decrease of $160.7 million or 22.4 percent (from last year).” 

Interestingly, Lawton claims that baccarat’s trends aren’t exactly great.

“Although this month’s baccarat results were a significant improvement over last year, the long-term trend for the state’s baccarat business remains choppy at best, as win is currently down 9.3 percent calendar year to date and volumes are down 12.4 percent.”

Slot machines also contributed to Nevada gambling winnings last month. This form of gambling helped to bring in $690.2 million. This represents an 8.3% increase from the same month in 2018.

Las Vegas Continues to Bring in the Most Money for Nevada

Las Vegas is home to many of the biggest and best casinos in the world. The Las Vegas Strip, in particular, features a massive number of world-class gambling venues. Most of these casinos generate a huge amount of money every single month.

Overall, Clark County managed to bring in $913.6 million in September. This is up more than 8% from the same period last year. Las Vegas Strip revenue increased by 7% to $584.2 million.

Amazing, Downtown Las Vegas experienced the biggest Nevada gambling winnings increase last month. This area of the city brought in $65.9 million, an increase of 19.9% from 2018. This is great news, considering gambling revenue in the Downtown area fell last month by 1.9%.

Nevada has seen its casinos generate an increase in revenue for the past four months. Soon, the Las Vegas Convention and Visitors Authority will release the state’s official tourism numbers from last month.

Nevada gambling winnings continue to increase. Stay tuned for more casino news on this city over the next few months!