The world has been transforming. Particularly so insofar as gambling operations go. They, to say new, flashy, and glitzy casino operators have been sprouting fresh out of the ground like mushrooms after rain. And this has been taking a toll on Las Vegas, the world’s foremost gambler magnet. Macau, Japan, Qatar and South Korea are all proving tempting new venues for casino-lovers to play at.
Staying Strong in the Face of Adversity
Competition has been fierce in Las Vegas and the world. Casinos have come to a simple realization – something has to be done in order for their offers to stay lucrative in this new world of ever-better gambling options. Another origin of the ills of land-based operators has been the online segment.
Naturally, US punters may not play online, unless they choose to do so at unlicensed and offshore bookmakers, as many have. The losses estimated to the unregulated gambling industry every year soar past the $150 billion mark, some have said. Of course, there has been plenty of evidence to suggest the opposite as well.
Still, Las Vegas are not trying to clamp down on the segment. Not anymore. Operators and moguls have become painfully aware that expansion will happen and if so, they may as well spearhead it themselves, planting new properties where demand for gambling operations is relatively high.
They have hardly been the only ones with solid business appetites. Overseas operators such as 888 and William Hill have already arrived. Bet365 has been prospecting opportunities to open doors in New York, reportedly sponsoring a lobbyist group.
And yet, a silver lining is on the cards – the industry may be changing for the better and sports betting is largely to blame.
Sports Betting – A Needed Succor in the Time of Need
Casinos are betting heavily on sports betting. Not overly-excited, the majority of operators has quickly realized that they are the only authorized facilities in the entire country that could take wagers along with a few race tracks. But the point is that no competition will come from bookmakers’ shops, which is a relief.
Or at least no such intentions have been stated so far. As a result, casinos have been applying for licenses, although not everywhere have moguls been as excited about the changes.
Where some casinos have been reluctant to take up the new activity, others have been overwhelmingly enthusiastic, and for a good reason. The truth is sports betting can be a significant jab of cash flow. Even if the illegal industry may not be worth $150 billion, it will still be a substantial number. Bringing all these players home is what local operators need.
Not only that, but the US could start accepting customers from overseas or the region to bolster its offer. So far, lawmakers are trying to get sports betting underway across different states.
When they succeed they will turn to other segments, including poker and casinos. The online segment cannot be too far down the road, which makes the future promising for the sector and its motley players.