Despite some up and down months in 2024, commercial gambling in the Silver State will outperform every other legal jurisdiction in the U.S. by a wide margin, with casinos along the Strip leading the way. Nevada casinos have enjoyed a prosperous post-COVID business boom unrivaled in the industry’s existence. South Point hotel-casino, which turns 20 years old this month, stands out in Las Vegas by resisting the industry’s post-COVID march toward higher prices and fewer player-friendly perks. For the latest Las Vegas casino and gaming industry news and headlines visit reviewjournal.com. Visitation sank 4.5% but Strip casino revenue jumped 8%, driven in large part by a 69% catapult in baccarat winnings. Still, a casino in New York City remains the biggest jackpot in the gaming industry.
Estonia approves gambling tax cut in bid to become igaming hub
The 752-foot, 2,605-unit hotel and condominium project with an 18,000-seat NBA-ready arena on the north Strip received approval from Clark County officials earlier this month. The $6.3 billion dual acquisition of IGT and Everi all but solidifies Apollo as one of the largest and most influential players in the gaming industry. Although analysts are always hinting at potential blockbuster mergers in the gaming industry, few ever actually materialize.
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With a declining interest in horse racing in Kentucky, a state legislator there has introduced a bill to legalize casinos in the state. The team at Macquarie also suggested there could be some gaming-industry mergers and acquisitions on the horizon “given subdued (real estate investment trust) activity in 2024.” vegas casino app The analyst also suggested there could be some gaming-industry mergers and acquisitions on the horizon.
- With 5,000 slot machines, 375 live dealer tables, 30 poker tables and an 18,000 square foot sportsbook, Metropolitan Park is projecting to generate $3.9 billion in revenue and $850 million in taxes annually by the third year of operations.
- As Las Vegas continues to adapt and grow, its position as a leader in the global gaming industry remains secure.
- The location board projects that annual gaming tax revenue will reach an additional $1 billion by 2036, totaling $7 billion between 2027 and 2036.
- “We’re going to make sure the property doesn’t look 20 years old, make sure it still feels fresh and new, adding modern touches to the experience without taking away from that old-school feel,” Growney says.
- MGM does not break out specific financial data for its Las Vegas properties in public filings, but executives said group business, room rates and future bookings remain healthy.
Industry analysts flagged the purchase at the time, as it is the only parcel in the development zoned for gaming. Its famous Stadium Swim poolside sportsbook has become a city attraction and the casino is home to the Sports Betting Hall of Fame. The brothers also own the Golden Gate and The D Las Vegas casinos. And, for the first time, we heard that debility on the Las Vegas Strip might start dampening locals-casino results. Thanks to room disruption at Green Valley Ranch, hotel revenues sagged 8%.
Like any successful locals’ joint, it has a lot of regulars, and they are taken care of by a lot of longtime employees. Launching it was a bit of a “shock to the system,” Libonati explains, since it’s an intentionally explicit and raunchy brand of laughs, but its longevity proves its worth. As far as entertainment goes, the demographic is a bit older, but that’s been changing since the pandemic. Gaughan has been doing things the same way for decades—it’s all about the guest, that’s what matters, and we all get it.”
Blake Sartini, chairman and CEO at Golden Entertainment, saw hotel occupancy at The STRAT Hotel, Casino & Tower plunge to 60% in June. MGM saw a 4% drop in Las Vegas over the three months. Net revenues of $1.054 billion were down from the $1.095 billion reported in the second quarter of 2024. Caesars revenue from Las Vegas dropped by 3.7% over the April-June second quarter. “Vegas started leaking as a market, kind of end-of-May. Since opening in late 2023, the casino has added 108,000 customers to its database.
New Guinness World Record in Las Vegas: 115 casinos in 24 hours
It’s kind of the opposite of casinos’ efforts to create a “digital wallet” that would be convenient — maybe too convenient for some gamblers. Whatever the motivation, casinos are noticing that they are opting out. Player databases are valuable to casinos. That’s one of the things being added at Durango, with 120 high-limit slots part of the plan as the casino adds 25,000 square feet on the gaming floor.
After founding Coast Casinos with the opening of Barbary Coast on the Strip in 1979, Gaughan was one of the influential figures who helped bring the National Finals Rodeo to Las Vegas for the first time in 1985. There are so many arenas in town now, vying for the same business of sports and concerts, but no one competes with us. That’s 46 weeks of animals and cowboys and cowgirls on property, and there’s just a level of excitement that brings,” he says. Growney says the South Point has not experienced business challenges this year, and sustainability is all about that special combination of locals and tourists. A classic Vegas showroom and a lounge with more live entertainment. The 2,163-room resort first opened on December 22, 2005, originally named South Coast as the latest addition to the Coast Casinos company founded by Michael Gaughan.
All three New York City casino proposals were tapped in the penultimate round of selection for Empire State benediction. Maybe it’s not “aiding and abetting” but it sure looks like “depraved indifference.” Thank goodness nobody got shot. Case in point, the gay-bashing incident at MGM Grand Detroit last summer, where security guards stood idly by as casino patrons were assaulted. God forbid you should need help in a perilous casino situation because you ain’t getting any. Related Companies, the developer behind Hudson Yards in Manhattan, teamed up with Wynn Resorts for a proposed casino near the Javits Center along Manhattan’s West Side, but dropped out in May.
“This our biggest project and will be amongst the biggest commercial casinos in the country.” Bally’s Bronx is projected to generate over $1 billion in revenue from gambling and more than $200 million in taxes to the state annually. The proposal also includes a 500-room luxury hotel, dining and entertainment venues, a 2,000-person event center, and meeting spaces.
- Kayla Jones, a local who recently hit a jackpot, highlighted the community’s role in the success of local casinos.
- Rome wasn’t built in a day, and neither was Caesars Entertainment’s Las Vegas casino empire.
- For more than three decades, Casino.org has been helping players search for the best Canadian online casinos to play, through trusted guides from a leading team of experts and their reviews.
- High-limit slots and VIP gaming areas aren’t just on the Strip now.
- Fewer guests naturally led to hotel occupancy declines.
On the same day that Cadence Crossing broke ground, gaming stocks across the industry tanked in reaction to US tariffs. Named after the nearby fast-growing Cadence neighbourhood, the casino represents Boyd’s first new development in 20 years. Boyd Gaming also confirmed late last month it is moving ahead with construction on Cadence Crossing, a 50,000-square-foot casino project in Henderson, a Las Vegas suburb.
Reeg noted that this year’s calendar lacked the big-name entertainment headliners — Adele and Garth Brooks — who were performing in Las Vegas last year, which impacted non-casino revenues. Local and Downtown casino resorts have mostly fared better than their Strip counterparts during this year’s tourism dip, but few properties are seeing a continuation of the post-pandemic boom. While the Strip is still the largest American gaming market, the rapid growth of the sports betting and online gambling world poses a potential threat to Las Vegas. Nationwide, the gambling industry grew for the fourth straight year in 2024 to $71.9 billion in revenue, but much of this growth has been attributed to the online gambling world. While Nevada and the Las Vegas Strip’s gambling industry income declined in 2024, largely due to new union contracts and around 6,000 new employees state-wide, revenues reached a record high $31.5 billion.
Anonymous winner scored over $1.15M playing Dragon Link slot machine at resort
Now, for the first time, guests can experience Gymkhana’s award-winning cuisine and hospitality without crossing the Atlantic. PEOPLE has reached out to Fontainebleau Las Vegas resort and casino for comment The tourist bet just $25 on the Dragon Link slot machine at the Fontainebleau Las Vegas resort and casino, and won over $1,152,000 With a mix of historical preservation and modern reinvention, Caesars is ensuring its resorts remain relevant to the evolving Las Vegas experience.
The developments of 2024 highlight the city’s resilience and ability to innovate, ensuring that it continues to captivate visitors from around the world. This includes upgrades to transportation systems, enhanced accommodations, and expanded entertainment venues. These efforts are essential to avoid the costly fines and maintain a good standing in the competitive Las Vegas market.
Las Vegas tourism decline leaves casino workers struggling to find shifts
LAS VEGAS (AP) — The Athletics are on track to open their approximately $2 billion Las Vegas stadium on time, officials said Thursday at the Las Vegas Stadium Authority meeting. Its unparalleled offerings also include a first-of-its-kind public Fine Art Collection, setting the standard for a new generation of resort experiences. The thoughtfully curated, 780-selection wine list, including 24 available by-the-glass, complements the beverage offerings. “ARIA is the perfect stage for the restaurant’s next chapter as we share the brand’s deeply rooted Indian hospitality with a global audience that values exceptional cuisine, first-class service and memorable dining experiences that make them return time and again.” “We have partnered with the JKS team to deliver a best-in-class lifestyle experience for our guests—one that will not only elevate the city’s food and beverage landscape but also bring an exciting new energy to The Strip’s fine dining scene.”
Visitor volumes, particularly among international travelers, have softened in recent months, adding pressure. Experts and executives say the staff adjustments are strategic, part of a long-term shift toward greater efficiency and profitability in a post-pandemic market. The Kentucky Horse Racing and Gaming Corp. would license and operate each casino in the state. The measure faces stiff opposition from Family Foundation of Kentucky, which opposes all forms of gambling.
County property records show that the 6.4-acre plot was last purchased in 2017 by PQ Holdings LLC for $3.3 million. Master plans from the city for the area now show “Circa 2 Resort & Casino” just steps away from Circa’s existing parking garage. The last to close was at the Sahara, which became the seventh Vegas Strip poker room to fold in five years when the casino replaced it with slots in November 2024. These moves align with the general Las Vegas corporate trend of deprioritizing poker in favor of slots, which vastly outperform poker’s modest rake-based revenue.
“From a business standpoint, we’re trying to book hotel rooms with these events. As long as you’re making it the property that locals love, the destination people get here and they think they’re stealing from us, because it’s such a good deal compared to the other options out there.” “We have the local property feel and value and amenities—the bingo, the bowling alleys, great restaurants with reasonable prices, a fantastic sportsbook, the best gaming odds in town. “It’s the fifth property Gaughan built and it’s a brilliant hybrid,” says general manager Ryan Growney. But the success of its arena, along with other specialized venues and entertainment programming, has built the property into a one-of-a-kind tourist destination. About 8 miles away from the Mack, too far south on Las Vegas Boulevard to be considered part of the Strip, a very special hotel and casino will also be packed during NFR, and is also celebrating a significant anniversary.