Things are looking up for 2018 too, with hope still alive in Pennsylvania, the new online poker compact, and tribal casinos growing by leaps and bounds. Here is the scoop on all that, and more.
American casino industry universally thriving
Oftentimes, we at PlayUSA focus on the success of a single industry, like NJ online casinos. However, recent numbers from multiple report focused on the country as a whole when it comes to the casino industry.
University of Nevada Las Vegas Center for Gaming Research publishes a monthly report with revenue reports for many commercial casinos across the nation.
These reports are not comprehensive, as some privately owned casinos do not release revenue reports in certain jurisdictions. The revenues the report did cover for September came in at $3.4 billion, which is a 4.4 percent jump from 2016.
Overall, the US casino industry is on pace to bring in a record amount, thanks to a 16 percent spike in revenue so far. Last year, the recorded casinos took in $40.5 billion.
Meanwhile, another report from the American Gaming Association (AGA) suggests the tribal gaming industry, which the UNLV report does not cover, could have an economic impact that amounts to $100 billion annually. Like commercial casinos, they too seem to be on the rise. It seems this country’s appetite for land-based casinos has never been higher.
And BTW New Jersey continues to do great with revenue too
Just because we are focusing on the national level does not mean we cannot discuss each state. Especially when we see that 10 percent of total casino revenue in New Jersey comes from online casinos. Steve Ruddock of PlayNJ took a look at which land-based casinos benefit most from their online partners. The results might surprise you too.
Those numbers might be getting bigger too. As we mentioned last week, Nevada, New Jersey, and Delaware are all going to pool online poker players. Currently online poker makes up 10 percent of total NJ online gambling earnings. But a look at the new compact suggests this could be what makes that number finally go up.
As for the question of which state benefits the most from the new compact, that is tough to quantify just yet. That is not to say we cannot speculate though. A look at the markets and the numbers suggest Nevada will probably grow the most. But it also indicates there is only one thing we know for sure: WSOP.com is absolutely the biggest winner in this whole deal.
Meanwhile in Pennsylvania…
We are stll no closer to a gambling expansion bill in Pennsylvania. Lawmakers are still managing to keep our hopes up though. One Senator even hinted a gambling bill could go up for a vote as soon as this week.
Meanwhile, there is a rumor a new group could own one of the state’s biggest casinos soon. Keating and Associates is a financial firm that claimed to be trying to buy Revel Casino earlier this year. Now the firm alleges it is trying to acquire Sands Bethlehem.
Unlike the previous rumor that MGM would buy the Sheldon Adelson-owned property, this one does not seem to have much proof behind it though.