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!

More Officials Push to Allow Real Casinos in New York City

New York City Casinos

New York is home to a fairly large number of popular casinos. For several reasons, however, there are no real casinos in New York City currently operating. Many state officials are now taking issue with this fact and feel that things should change.

Analysts believe New York would benefit from expanding its gambling industry. The state has struggled to compete with many of its neighboring states in the casino and sports betting departments. Now is a great time to talk about how things could change here in the near future.

Let’s get into it!

New York Seems Close to Finally Allowing Online Sports Betting

The state of New York is well-known for having one of the most passionate sports fan bases in the country. Unfortunately, state leaders here haven’t capitalized on this fact. Lawmakers here have been hesitant to expand the sports betting industry here in any major way.

The first legal sports wager was made here in 2019. As of now, only land-based sports betting is available. That has made it difficult for sports betting operators to generate revenue with the events that have unfolded since March of 2020.

There has been a real push to allow online sports betting here lately. Analysts point to states such as New Jersey and Pennsylvania with regulated online sportsbooks up and running. These states are earning a massive amount of tax revenue from these internet gambling operations.

Officials in New York can no longer deny this fact. Even Governor Cuomo, who has been largely anti-online gambling over the years, seems to be embracing a change. He is actively in talks with other officials on how to safely launch the state’s online sports betting platforms.

This could end up being a game-changer for New York. It will almost certainly result in a major revenue spike. As of now, there is still no official date set for the state’s online sportsbooks to go live.

Many also feel that New York should begin to expand its casino industry. Here’s what we know about this situation.

Business Officials Push to Allow Real Casinos in New York City

The casino industry in New York has been steadily increasing since 2013. That year, state leaders began allowing commercial casinos to start operating. None were given permission to operate in New York City, though.

State leaders have long pushed against allowing Class III casinos in NYC. They believed these venues could cause a variety of unintended issues in the city. That idea seems outdated, however, when considering many of the successful casinos in other major US cities.

New York is beginning to realize that fact. Several prominent business leaders in different parts of the city are now supporting the push to allow real casinos in New York City. That includes leaders in The Bronx and Westchester County.

Most of the focus seems to be on allowing table games inside the Empire City Casino. This venue is one of the only ones in the city currently able to offer slot machines and other electronic games. There are now many that want to see this venue become a real, traditional casino.

Council member Shanae Williams believes this will end up bringing more money into Yonkers, where the Empire City Casino is located. “It would mean more money to help with a lot of different community projects, and I think that’s what we need right now in Yonkers,” she said. 

Governor Cuomo has shown a willingness to look into this idea. Of course, he is facing a variety of other issues at the moment that are likely taking his attention. We’ll be sure to offer more updates on any possible casinos in New York City over the next few months!

Atlantic City is Still in Recovery Mode

New York seems close to allowing many new gambling options. Over in New Jersey, the casino companies have a different focus. Rather than looking at expansion, these casinos want to simply get back to the way things were in 2019.

Atlantic City has been hit hard over the past twelve months. There are some clear signs that things are beginning to improve here. Revenue figures are still far below what was seen just a couple of years ago, though.

As infection rates drop, Governor Phil Murphy has slowly begun lifting restrictions on Atlantic City. This is giving the casinos here a little breathing room to attract players. Even major sports leagues are now making the move into AC.

News broke today that the Professional Fighters League plans to hold its upcoming tournament bouts inside the Ocean Casino-Resort in Atlantic City. These bouts will take place inside a “bubble” without any fans in attendance. It goes to show how far things have come here since last year.

Many believe February’s gaming revenue figures will break records. The Super Bowl likely brought an unprecedented amount of wagers. Hopefully, that money helps to keep the gambling properties here afloat during these difficult times.

Do you think we’ll see real casinos in New York City soon? Let us know in the comments section below.

Gov. Ned Lamont and Mohegan Tribe Agree to Expand Gaming in Connecticut

Two Laptops Showing Sports in Front of a Pile of Money
The state of Connecticut has reached an agreement with the Mohegan Tribe, the owners of the Mohegan Sun Casino in Ucansville, Connecticut, to expand gaming in the state, including online gaming and sports betting. The deal however, was made without the state’s other tribal nation.

In a written statement, Governor Lamont said:

“This agreement represents months of hard work and dedication to getting a deal that’s best for the residents of Connecticut and moves our state forward when it comes to the future of gaming. We are incredibly fortunate to have such a devoted partner in these efforts like the Mohegan Tribe, as they have been open to negotiation, honest discussion, and a positive path forward that is beneficial for both their tribe and the State of Connecticut.”

The governor’s office says that the deal is worth “tens of millions” of additional revenue to the state. Lamont is banking that iGaming and Connecticut sports betting will be legalized this year. He already included $47M in revenue from the two into his budget starting in fiscal 2022.

Details of Connecticut Sports Betting Agreement

Under the deal, a 20% tax rate will be levied on new online gaming while a 13.5% tax rate will be imposed on Connecticut sports betting. The agreement is good for 10 years and has a five-year expansion option.

As part of the deal, the Connecticut Lottery will be allowed to operate 15 retail sports betting shops, including new ones in Hartford and Bridgeport. The Lottery can also sub-license some of the operations to Sportech but Sportech will not get operations or an online skin of its own.

Eastern Connecticut Lawmakers Upset

Meanwhile, the members of the Eastern Connecticut said that the “cannot accept” any gambling expansion agreement reached by Gov. Ned Lamont and the Mohegan Tribe if it does not include the Mashantucket Pequot Tribal Nation. The bipartisan group sent a letter to the Governor urging him and the state’s two federally recognized tribes to complete an agreement by Sunday.

Rodney Butler, the chair of the Mashantucket Pequots said on Tuesday that it was “disrespectful” for the Governor to announce a gambling agreement with only one tribe when the Mashantucket Pequots have been actively participating in the discussions for months and in good faith. Butler however said that his group is open to continuing the discussions but has a financial issue with the deal.

Bally’s Becomes Sports Betting Partner of the NHL

Bally's Atlantic City

Land-based casino operator Bally’s Corporation has entered into an agreement to become an official sports betting partner of the NHL.

The deal enables Bally’s to use the official NHL marks and logos as well as the league’s official data for use in its expanding range of sports betting offerings. Bally’s recently purchased Bet.Works for $125M to launch its sports betting business later this year.

It also allows Bally’s to create NHL content that will be integrated to the game coverage on 19 regional TV networks operated under the Sinclair Broadcast Group which is being rebranded to Bally’s. Sinclair broadcasts the games of 12 NHL teams including the last two Stanley Cup winners in the Tampa Bay Lightning and St. Louis Blues.

Said Bally’s Corporation President and CEO George Papanier:

“We are thrilled to enter into this partnership with the NHL, which represents an important milestone in our strategy to become a leader in the online sports betting and iGaming space. With access to the NHL’s official logos and brands, together with our first-of-its-kind media partnership with Sinclair, we will continue on our path to transform how fans engage with their favorite hockey teams.”

NHL Embraces Sports Betting

The NHL has been one of the most progressive pro sports leagues when it comes to embracing sports betting in the last couple of years. The NHL has partnered with the American Gaming Association to bring responsible gaming messages directly to fans via an extensive public service campaign inside arenas.

Last month, the NHL entered into a deal with an Eastern European sports betting company covering the Czech Republic and Slovakia. Most recently the Detroit Red Wings entered into a sports betting partnership with online gambling operator PointsBet.

First Time for Bally’s

While this kind of partnership isn’t new to the NHL, this deal represents the first time that Bally’s has forged a sports betting deal with a major professional sports league, making this a landmark deal for the company.

Rhode Island based Bally’s currently operates in seven states with a total of 11 casino properties. It has pending deals that will add four new properties in three different states to its existing portfolio.

Casino Revenue in Kansas Dropped by 28% Last Year

Kansas State Flag

Kansas is home to a large and fairly successful casino industry. Unfortunately, the casinos in this state have been struggling to generate revenue for nearly an entire year. This week, reports surfaced claiming that casino revenue in Kansas dropped by almost 30% in 2020.

There are some caveats here, though. The revenue being discussed here only came from the four casinos directly owned by the state. It doesn’t include revenue figures from the different tribal casinos operating in Kansas.

Now is a good time to talk about exactly how much money the casinos here managed to bring in throughout 2020.

Let’s get into it!

Major Casino Companies Continue Struggling into 2021

It has been almost an entire year since the US casino industry was ordered to shut down. When that happened, many felt things would be back to normal within a few months. Health officials seemed torn on the situation and casino companies were content to sit back and wait for more updates.

As time went on, it became clear that the land-based casino industry was in for a tough time. Many states around the country waited until mid-summer to allow commercial casinos to reopen. Some then ordered another round of shutdowns just months later.

Places such as Las Vegas and Atlantic City saw their tourism and revenue numbers plummet. It was an extremely difficult situation for the casino companies with properties here. Even today, the country’s biggest gaming hubs are struggling in a big way.

Every casino company has seen large dips in revenue. That includes MGM Resorts, Wynn Resorts, and Las Vegas Sands. The latter has been forced to consider major Las Vegas property sales as a way to earn some extra money.

Even the states with small casino industries are hurting right now. These venues employ thousands of people and usually help to bring states a large amount of revenue each year. Unfortunately, there does not seem to be a clear date for the industry to turn around.

Kansas is home to some very popular gambling establishments. We’re now beginning to hear how much money these casinos lost throughout 2020.

State-Owned Casino Revenue in Kansas Fell by 28% in 2020

Kansas is currently home to 11 different land-based casinos. Seven of these are owned and operated by different Native American tribes. The other four are actually owned by the state and are hugely popular with many local residents.

New reports are shedding light on how much money the casinos in this state managed to bring in last year. According to these reports, the casinos across Kansas City, Mulvane, Dodge City, and Pittsburgh managed to bring in just $300 million in 2020. That represents a 28% drop when compared to 2019.

Stephen Durrell, executive director of the Kansas Lottery, spoke about the situation here to the media this week.

“It’s been a really difficult year for a lot of businesses and obviously, our casinos are part of that,” Durrell said. “Two months out of the 12, not being there revenue-wise . . . is obviously going to make a giant impact on what your bottom line is.” 

The casinos here brought the state just $80.9 million in gambling revenue. The Hollywood Casino at the Kansas Speedway in Kansas City experienced the largest overall drop in revenue at 35%. This property managed to bring in just $99.4 million in 2020.

All of these casinos are still operating at a limited capacity. That is unlikely to change anytime soon. As a result, most analysts expect another major drop in gambling revenue in 2021, as well. Stay tuned for more updates over the next few months!

Kansas Continues to Look Close at Sports Betting Legislation

Since May of 2018, every single state across the country has been able to legalize and regulate sports betting. 26 states have now officially chosen to do so. Many more are in the process of drafting legislation to approve this new form of gambling.

That includes Kansas. This state is already home to a large and fairly successful gambling industry. Even with the drop in casino revenue in Kansas, this state has a more successful gaming market than many other nearby states.

This week, lawmakers in the state met to discuss sports betting legislation. The discussion centered around Senate Bill 84, which would officially legalize online sports betting in Kansas. Many officials in the state seem to be happy with the details of this new bill.

Heads of different sports betting companies are expressing their support for this new bill. These companies clearly recognize the huge sports betting market that exists in Kansas. State officials also seem happy with the idea of earning revenue from this industry.

If all goes according to plan, sports betting will become legal here before the end of 2021. That will be a huge move forward for the state’s gambling industry. It could also lead other nearby states to make the same decision.

Are you surprised to see how far casino revenue in Kansas dropped last year? When do you expect this trend to change? Let us know in the comments section below.

WynnBET Forges Partnership with the NBA’s Memphis Grizzlies

Sportsbook
Wynn Resorts’ WynnBET casino and sports betting app has entered into a sports betting partnership with the NBA’s Memphis Grizzlies.

WynnBET’s partnership with the Grizzlies comes after the betting company recently became the Authorized Gaming Operator for NASCAR and the official sportsbook of the Martinsville Speedway and Richmond Speedway, pending approval in Virginia.

Innovative Digital-First Approach

The partnership will focus on an innovative digital-first approach and is expected to push the limits of traditional sports marketing partnerships by creating and promoting high-impact experiences that reflect the energy of both brands.

WynnBET will be integrated across the different digital and broadcast programs of the Grizzlies and Grind City Media. An on-demand media platform plus a digital content studio will also be established by the partners. WynnBET and the Grizzlies will also work together on cross-promotional campaigns that will leverage the Grizzlies’ digital footprint, including web and mobile applications and social media. A WynnBET branded lounge will be established in the Grizzlies’ FedEx Forum.

Strengthening its Industry Position

The partnership with the Grizzlies is seen as a move that will help strengthen WynnBET’s industry position. Currently, WynnBET is live in three states and has pending launches in several other jurisdictions. With its acquisition of BetBull last year, WynnBET is poised to continue seeking lucrative sports betting partnerships in key jurisdictions to increase its player base.

WynnBET is now available in New Jersey, Colorado, and Michigan. It currently has a pending application in Virginia. WynnBET also has market access opportunities in Indiana, Iowa, Massachusetts, Nevada, Ohio, and Tennessee. The application and market access are still subject to the necessary approvals by the regulatory authorities in the respective states.

Expanded Washington Sports Betting Would Add More Jobs

Odds Board and Money
Lawmakers in Washington State are working on a bill that seeks to expand sports betting in the Evergreen State.

The new bill proposes that Washington State sports betting will no longer be conducted by just the tribal casinos and private card rooms. The state wants to expand Washington State sports betting to other locations, similar to how it is across the United States. Primarily, lawmakers want to allow state-run card rooms and horse tracks to engage in Washington State sports betting activities.

said Sen. Curtis King, R-Yakima, a sponsor of the bill:

“This is about fairness. We need to share the wealth. We need to take care of the state of Washington as well.”

Creating Jobs Across the State

Under the expanded bill, sports betting operators would pay licensing fees amounting to $100,000 and are required to pay the state a 10% tax based on their revenues. The proposal will not allow betting on Washington State college sports, high school sports, and eGames.

The supporters of the proposal argue that increasing sports betting locations in the state would create jobs across the state and add an estimated $50M in annual tax revenues. However, those opposed to the idea insist that expanding sports betting in Washington State would take away income from the tribal groups that use these revenues to fund their own operations and social programs.

Lines Are Drawn

Washington State legalized sports betting for tribal casinos last year. However, these casinos have not commenced operations as they are still deciding on compacts in negotiations. The delay by these tribal groups has left the door open for lawmakers to attempt to expand Washington State sports betting.

State officials tried to expand the sports betting law last year but failed to pass a bill. 2021 is going to be an interesting year in Washington State with the lines drawn between the proponents of the expanded bill and those who support the existing one. Although both have good arguments, having more Washington State sports betting operators will be better for the competition and will also mean more income for the state.

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!

Andrew Yang Supports New York City Casino Plans

Andrew Yang

For years, several officials in New York have been pushing to open a new casino-resort in New York City. This idea is now beginning to gain attention from powerful individuals in the state. That includes Andrew Yang. New reports claim that Yang now supports the New York City casino plans.

It’s exciting news for gambling proponents in this state. Some, however, feel this isn’t the right time to discuss opening a casino in the city. Today, we’ll talk about what exactly might be coming to New York City in the future.

Let’s get into it!

New York’s Casinos Are Continuing to Struggle

For many years, New York was known as one of the most anti-gambling states in the country. Lawmakers here began cracking down on this industry decades ago due to its connection with crime groups. Some felt that we’d never see a booming casino industry here.

Eventually, the state began allowing Native American-run casinos to begin operating in the state. These grew extremely popular with residents and revenue started to increase. In 2013, officials in New York decided to pass a bill to allow commercial casinos in the state.

This was a huge moment for the country’s gambling industry. It became clear that New York saw the upside in gambling. Several commercial casinos have since opened in the state, mostly in the Upstate area.

2020 proved to be a devastating year for New York’s casino industry. In March, all of the casinos here were forced to shut down. They reopened over the summer, yet all of the casinos in the state have seen extremely low revenue figures since that time. Some are at risk of a permanent shutdown.

New York isn’t alone in this situation. All major casino destinations around the US are seeing extremely low revenue figures right now. It’s a complicated issue that even the top gaming experts are having a difficult time solving.

Could opening a casino-resort in New York City help things? Some certainly think so. That includes one man currently pushing to become mayor of NYC.

More Show Support for New York City Casino Plans

It’s clear that New York has changed its stance on gambling over the past few years. Interestingly, nearly all of the casinos in this state are located in the Upstate area. Many state leaders have been hesitant to allow any casinos in New York City.

Some now feel this is the time to make a change. We’ve seen several states open major casino-resorts lately. Prior to 2020, these venues were proving to be hugely successful. Even Chicago has recently approved a measure to open a new casino-resort.

This week, NYC Mayor-hopeful Andrew Yang gave his opinion on this situation. He addresses the fact that casinos can bring a variety of issues. Ultimately, however, he supports the New York City casino plans due to the massive revenue potential.

“We need big ideas,” Yang tweeted this week. “There are many downsides of casinos but the upside is $700m+ recurring annually largely from tourists now going to CT and NJ. That’s money for teachers, hospitals and other services. We should be trying to grow revenue where possible.”

Yang certainly has a point. Many gambling fans based in New York City are heading to neighboring states to play their favorite casino games. Opening a gambling venue in the city would help to keep this money inside the state.

It will be interesting to see if these plans move forward over the next few years. Many feel that Andrew Yang will end up becoming the next Mayor of NYC. Perhaps he will push these casino plans forward. Stay tuned for updates!

Will New York Approve Mobile Sports Betting This Year?

The casino industry in New York is growing at a steady pace. Prior to 2020, this industry was helping to bring the state valuable revenue in the form of taxes. Hope is that casinos here begin seeing pre-pandemic levels of revenue over the next few months.

As many know, New York also legalized sports betting years ago. Unfortunately, only land-based sports wagers are available here. It’s unusual, as online sports betting has proven to be a far more lucrative industry.

Many are now calling for mobile gambling to finally be approved in 2021. There are several bills to start regulating this form of gambling moving through the legislative process. Many believe lawmakers will give online sports betting the green light this year.

That will be bad news for New Jersey. This state has seen massive revenue figures from its online sports gambling industry over the past twelve months. Many sports fans in New York make the move into New Jersey’s borders in order to place online sports wagers.

If New York’s online sports betting industry goes live, this money will stay inside the state. It’s a similar thought process to the New York City casino plans. Officials in the state are tired of seeing money go into other parts of the country.

Do you think a casino should open in New York City? Would this be successful? Let us know in the comments section below.

Casino Closures Cause Major Dip in PA’s Gambling Revenue

Casino in Pennsylvania

Pennsylvania is home to one of the largest gambling industries in the United States. Unfortunately, this industry has been suffering due to the events unfolding around the world. Most recently, the state-ordered casino shutdowns have led to a major dip in PA’s gambling revenue.

Now is a perfect time to talk about how much money the casinos in Pennsylvania have lost recently. It’s been a tough past few months for the gaming companies operating here.

Let’s take a look at what exactly is going on here.

Will the Casino Industry in Pennsylvania Close Down Again?

Back in March, the entire US casino industry experienced something unprecedented. Due to the global pandemic, state leaders forced all of the casinos around the country to shut their doors. This was devastating in the areas that rely on these casinos for money and employment.

Places like Las Vegas certainly fit that bill. As most know, this is the world’s largest casino destination. It relies heavily on its tourism industry, which all but stopped completely when the casinos were forced to close their doors.

It took months for the casinos in the city to reopen. When they did, these venues were met with extremely low tourism figures. Even today, nearly a year after the casinos were forced to close, tourism figures in Las Vegas remain low.

Smaller gambling hubs like Pennsylvania felt the effects of these regulations, too. The casinos here were finally able to open again over the summer. In December, state leaders once again forced the casinos to shut their doors. They have since reopened.

Some fear that the casinos in this state may be forced to shut down once again. An order like this one could have irreversible effects on the gambling industry here. Fortunately, this has not yet been mandated by any state leaders.

We’re now beginning to hear just how devastating 2020 was for the gambling companies in this state. Here’s a look at how badly these companies were hurt.

PA’s Gambling Revenue Dropped by 20% Last Year

Every single state has been experiencing drops in gambling revenue over the past twelve months. Some are seeing larger dips than others. We are now beginning to hear how much money the different gambling platforms over in Pennsylvania managed to bring in during 2020.

According to new reports, PA’s gambling revenue fell by an astounding 20% over the course of the year. That is when compared to 2019. Certain gambling options here managed to perform better than others.

The state’s casinos, sports betting operators, and DFS platforms managed to bring in $2.65 billion throughout 2020. That’s a significant drop from the $3.5 billion earned in 2019. Obviously, the gaming industry operators here has reason to be concerned.

Pennsylvania’s casinos themselves brought in $2.4 billion in 2020. Fortunately, the state’s online casino platforms have helped to make up some of the losses. These internet casinos actually saw an increase from just $34 million in 2019 to an incredible $566 million in 2020.

As you might expect, the gambling companies here are focusing more on their online gambling platforms. This is the safer industry at this stage for these companies. Hope is that we see the land-based casinos here experience larger revenue increases over the next six months.

It’s a very interesting time for the entire country’s casino industry. Sports betting is helping to bring many states, including Pennsylvania, some much-needed revenue right now. Which states will we see legalize and regulate this form of gambling in 2021?

More States Plan to Regulate Sports Betting in 2021

It’s been amazing to see how quickly the US sports gambling industry has grown in just a few short years. It wasn’t until 2018 that states were legally able to provide sports betting options. Now, less than three years later, more than half the country has a regulated sports betting industry up and running.

Even states with a historically anti-gambling stance over the years are beginning to embrace this industry. That includes places like North Carolina and New York. Officials here can’t ignore the massive revenue potential industry any longer.

It appears that several more states are set to legalize sports betting in 2021. This is likely to be the biggest year for the industry so far. We could see some of the most populated states in the country finally embrace this industry.

Many are hopeful that California decides to embrace the sports betting industry this year. For years, state leaders and tribal casino owners have been negotiating on a way to allow sports gambling. There seems to be some progress being made and many are excited to see things come together.

Oklahoma is in a similar position. This state is home to a massive number of tribal casinos. State officials are actively working with the owners of these venues on ways to offer legal, regulated sports betting options.

PA’s gambling revenue is already increasing thanks to the state’s sports betting platforms. Which states do you think will legalize this industry in 2021? Let us know in the comments section below!