Seven trending gaming industry articles that will impact your casino Revenue Strategy.
1. Will Gambling Win in Virginia?
A bill that could lead to the legalization of casino-style gambling in parts of Virginia has advanced in the state legislature. The odds of passage are still unknown, reports the Associated Press.
If SB1126 is approved by the House of Delegates, the Senate and signed into law by the governor, it would allow for local referendums legalizing casino gambling in five localities: Bristol, Danville, Portsmouth, Norfolk and Richmond.
2. Atlantic City Casino Revenues Up, but Diluted by Newcomers
According to NJ gambling regulators, two reopened casinos and half a year of sports betting helped push Atlantic City's casino revenue up 7.5% in 2018 to nearly $2.86 billion. The news is not all good, especially for casinos that thrived before Hard Rock and Ocean Resort opened in June.
Of those seven casinos, six won less in 2018 than they had in 2017.
3. Atlantic City Non-Gaming Business is Hot
Despite mixed successes in Atlantic City gaming revenues, Meet AC (the convention and visitors bureau in Atlantic City) reported another record-breaking meetings and calendar year in 2018.
According to Jim Wood of Meet AC, the city booked almost $400 million in conventions and meetings in 2018, accounting for almost 372,000 hotel rooms nights.
4. Vegas’ Downtown Grand to Build New Hotel Tower
In conjunction with the property’s five-year anniversary, The Downtown Grand Las Vegas announced that it will be expanding its footprint by over 250,000 square feet in mid-2020 with the addition of a new hotel tower that would add 495 new rooms to the property’s existing inventory of 629.
The new rooms will be marketed as a “boutique hotel experience” and will include 67 studio units, 20 one-bedroom suites and three 1,500-square-foot “presidential suites.”
5. Macau Casinos Hit $37.6 billion Gaming Revenue in 2018
In 2018, Macau’s gambling revenue rose 14%. This is the second consecutive year of gain for the Chinese territory. Authorities hope the $20 billion Macau to Hong Kong bridge will further boost the territory and help drive non-gaming, convention and event revenue.
6. If Iowa Says Yes to Sports Betting, William Hill and Prairie Meadows Are Ready
William Hill and Prairie Meadows Racetrack & Casino in Iowa announced a partnership that makes William Hill the casino’s official sports book operator, should sports betting become legal under Iowa state law.
Pending legislation and regulatory approvals, William Hill will operate a more than 8,600 square foot sports book.
7. Penn National Prepares to Bring VGTs to PA C-Stores
Penn National Gaming is preparing to bring video gaming terminals to Rutter’s, a Pennsylvania dairy and convenience store chain. If approved by the Pennsylvania Gaming Control Board, Penn National will place VGTs inside 20 locations that are expected to qualify for the devices.
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