It seems that the US online casino gaming industry is the biggest winner at the polls this week, with three more states joining in the process of legalising sports betting. Three others are either approving or expanding the existing casino gaming operations.
Dakota, Louisiana and Maryland join the team
The states that have approved sports betting are South Dakota, Louisiana and Maryland. This sets up the process when by the end of 2021, more than half of the US countries will legalise sports betting. This is progress achieved in less than three years after the US Supreme Court simplified the process to adopt sports betting operations if they choose so.
Virginia, on the other hand, approved casino gaming in four locations. We’ve recently reported about Virginia approving the sports betting regulations, with the introduction of a detailed Consumer protection program. Nebraska approved adding casino games at its horse racing tracks, while Colorado expanded the number and types of offers, along eliminating few wagering limits. It’s expected that DraftKings, Penn National Gaming and MGM Resorts are in a great position to benefit from the recent sports betting expansion.
David Schwartz, a casino gaming expert, coming from the University of Nevada, Las Vegas, says that Americans seem to become quite comfortable with a legal casino gaming playground. The additions in Virginia and Nebraska indicate that casino gaming lifestyle is also on the rise. Currently, the US has reached a point where the audience seems satisfied that legal casino gaming activities will offer complimentary returns for their state and an improved market standard.
AGA on the US casino gambling expansion
The president and CEO of the American Gaming Association (AGA) Bill Miller said that with this affirmative note, Americans welcomed world-class gaming entertainment while still keeping on the side of regulated, white-hat activities. Here are also the benefits of new job positions and local tax revenue stimulation. Moreover, he ensures that the AGA will continue to work with gaming experts to ensure policymakers understand the commitment and the positive impact of the industry. The aim is to set a positive example and attitude towards operators and emphasise education initiatives.
Due to the global pandemic disruption, the AGA is focused on ensuring the Congress leaders understand the situation and prove critical relief packages that aid employee retention and rehiring, provides liability for responsible operators and encourages the travel/tourism sector.
By the end of 2021, 25 states and the Columbia district will have legal sports betting in place. Caesars Entertainment published a thank you note for voters approving the Danville proposal. They further add that they’re looking forward to attaining the trust voters have placed in them, by bringing more than 1.300 job positions and economic development to the city.
Caesars Entertainment Q3 statistics
Caesars seem to have a busy and productive year. This week the reports on Caesars Q3 are finally released, and we’ll look at how this company has been performing compared to 2019 Q3.
Just to remind you, this summer Eldorado Resorts paid 17 billion to acquire Caesars Entertainment, making the largest casino purchase in history. Not long afterwards, Caesars announced that they’ve agreed to buy William Hill’s US assets and operations. Even though the revenue has been low for almost every provider out there, they’ve still managed to expand their business.
As for the Q3 statistics, we’ve said previously that all US casino companies noted a sharp decline in their reports. According to Caesars report, they’ve managed to bring in 1.4 billion in net revenue. This represents a solid 52% increase and a 34% decrease in year-on-year net income.
Most things, however, are expected to improve in 2021, as the William Hill acquisition is guaranteed to help bring the company more value and increase in revenue.