Nevada’s gaming industry ended the first half of 2024 on a high note, particularly in Las Vegas, while northern regions faced challenges. The state saw $1.28 billion in gaming revenue in June, a 3.2% increase from June 2023, according to the Nevada Gaming Control Board.

Las Vegas Strip Resilient with 4.2% Revenue Increase

Casinos serving local patrons drove much of this growth, with a 6.2% rise in June and a 9% increase for the second quarter. The Las Vegas Strip showed resilience, with revenue climbing to $758.5 million, marking a 4.2% year-over-year increase and a 4.8% gain for the second quarter.

Downtown Las Vegas also performed well, seeing a 5.8% rise to $66.2 million. The Boulder Strip and Mesquite experienced moderate increases, while Laughlin saw a slight decline. However, northern Nevada did not fare as well, with Reno, Sparks, and South Lake Tahoe all reporting significant drops in revenue.

Michael Lawton, a senior economic analyst for the Control Board, noted that an extra weekend day in June 2024 compared to the previous year contributed to these gains. Las Vegas welcomed nearly 3.5 million visitors in June, a 1.8% increase from the same month in 2023. 

Las Vegas Sees Robust Weekend Occupancy Despite Midweek Dips and Upcoming Hotel Closures

Overall hotel occupancy in June slightly decreased to 85.2%, but weekend occupancy was robust at 91.3%, while midweek occupancy dipped slightly to 82.6%, with convention attendance down 7.9% due to scheduling shifts. The average daily room rate rose by 6.4% to $176, and revenue per available room increased by 6% to nearly $150.

Notably, the closure of The Mirage and Tropicana hotels is set to reduce room availability on the Las Vegas Strip by nearly 5%, leading to higher hotel rates. Recently, CBRE’s director of equity research John DeCree predicted this will benefit mid-tier hotels, driving earnings growth as demand shifts and average daily rates increase.

Moreover, the Las Vegas Strip’s gaming win was notably boosted by a busy events calendar, including performances by Bruno Mars and Lady Gaga, a significant boxing match, soccer matches in the Copa America Tournament, the NHL Draft, and major UFC fights. These events contributed to a 4.3% increase in the Strip’s gaming win.

June also marked the end of Nevada’s fiscal year, with the state achieving a record $15.8 billion in gaming revenue, a 4.4% increase from the previous fiscal year. This marks the third consecutive year of record-breaking gaming revenue for the state. The Las Vegas Strip, in particular, saw its gaming revenue rise by 6.1% to $9.1 billion, accounting for 57.4% of the state’s total.

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Las Vegas Sands is in a strange position. The business founded by the late Sheldon Adelson, a staunch Republican supporter, has not deviated from its pro-GOP line under the control of Miriam Adelson, Mr. Adelson’s wife.

LVS’ Stock Experiences the Jitters as Trump’s Chances Grow Steadily

Yet, as the polls continue to steadily increase in favor of Donald Trump, now the official GOP nominee for president, over the incumbent, Joe Biden, Las Vegas Sands’ stock is continuing to tumble.

Trading at $$53.96 on April 3, the stock has now dropped to $42.34 as of July 17. At least some of this is attributable to Mr. Trump’s reelection chances. This is not entirely surprising, as under Mr. Trump’s first stint at the highest office in the free world, gaming equities with exposure to China lost a quarter of their value.

This has mostly to do with Mr. Trump’s gung-ho approach towards China and his incessant saber-rattling that threatens hefty tariffs on import goods, along with tighter restrictions on access to American intellectual property and technology for the country’s arguably most serious geopolitical rival.

Yet, many of these politics have been introduced in his first time in office, and continued or even strengthened under Mr. Biden.

Fear Not, Mr. Musk and Mrs. Adelson Come to the Rescue

For Las Vegas Sands, this increasingly fraught relationship could mean choppier seas ahead with the company having to balance a tight diplomatic rope where it doesn’t end on the receiving end of Beijing’s retribution, because of the company’s exposure in Macau.

However, skeptics are moderately optimistic. Mr. Trump’s second turn would be surrounded by a mix of pundits and technocrats with a totalitarian streak, but he would also include important backers who have a stake in the Chinese market, such as Elon Musk, a technological entrepreneur behind Tesla, SpaceX, and as of a year now – X, a social media platform previously known as Twitter.

Mrs. Adelson has already vowed $100 million to Mr. Trump’s campaign, had she may too advocate for the normalization of ties between Beijing and Washington.

Mr. Musk has been given a rare exemption in China, allowing his Tesla cars to operate without restrictions across the country after Beijing previously said that it would limit Tesla models from parking near critical infrastructure, government buildings, and other places considered to be of national security relevance.

This change of heart could indicate that Beijing expects a second term for Mr. Trump in November and is willing to make sure that it does not burn all bridges there are. Gaming stocks may indeed take a hit, mostly because of skittish investors, but they should stabilize overall.

However, it’s still interesting to see that Mr. Trump’s chances of reelection, as envisioned by political betting exchanges and websites, are tied to at least a partial business downturn for his backers.

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iGaming and betting juggernaut BetMGM announced that one player on its Borgata Online casino platform has won two jackpots within nine months. The operator celebrated the gambler’s success, releasing more details about the dual win.

BetMGM elaborated that the winner is from Drexel Hill, Pennsylvania. They won two “The Big One Colossal Jackpots” on Bison Fury, grabbing almost $1.5 million in total.

The first win was recorded in late August 2023 when the Pennsylvanian won $1 million on a $10 bet on Bison Fury on Borgata Online. In May 2024, the player in question repeated this feat, winning $417,404 on a $18 wager on Bison Fury: The Stampede.

Bison Fury, for reference, is a game that is exclusive to BetMGM and its casino platforms. Developed by Entain, the title is a five-reel “All Ways” slot featuring an American wilderness theme. The slot is best known for its 1,000 paylines, exciting bonus round and progressive jackpot.

Speaking of jackpots, BetMGM’s online casino offers some 2,800 titles and the largest state-by-state jackpot network. The company’s largest jackpot at the time of this writing is in New Jersey, standing at $5.2 million. It is notably the largest iGaming jackpot to date.

The Player Thanked BetMGM and Borgata for This Opportunity

BetMGM praised the player for their spectacular success. Angus Nisbet, the operator’s vice president of gaming, commented on the matter, saying that winning such a jackpot not once but twice must surely feel incredible.

Two progressive jackpots this size in less than a year has never happened in the history of BetMGM. We congratulate the player on these extraordinary jackpot wins.

Angus Nisbet, VP of gaming, BetMGM

The player in question preferred to remain anonymous but still released a statement on their win, expressing their excitement and thanking the operator for this opportunity.

Borgata Online and BetMGM are the best! Thanks to Borgata Online for giving me the chance of a lifetime, not once but twice, to win two big jackpots.

Borgata jackpot winner

In other news, BetMGM’s UK arm just extended its partnership agreement with Newcastle United, emphasizing the operator’s desire to continue reinforcing its presence within the sports sector as well. Originally formed last year, the deal built on the successful relationship between the popular Premier League team and the leading betting operator.

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Earlier this week, the Cordish Gaming Group announced an important appointment by naming Bryan Prettyman senior vice president of property operations at its Live! Casino and Hotel in Louisiana. The important hire strengthened the executive-level team at the casino resort which is expected to open for visitors in Q1 2025.

Construction of the gaming and entertainment location in Bossier City that promises to deliver exceptional experiences started in December last year. Ahead of the planned opening next year, the project recently reached a major construction milestone.

As announced by The Shreveport-Bossier City Advocate, Live! Casino and Hotel Louisiana will organize a top off next week. Such ceremonies are usually organized in cases when construction reaches a stage that requires a final beam to be placed on top of the structure.

This doesn’t mean that the whole construction of the hotel casino is completed but still marks an important landmark in the construction process. According to the recently released report, the topping off is expected to take place on Wednesday, July 17.

The ceremony is expected to attract a range of Louisiana officials, including representatives of the gambling regulator, the Louisiana Gaming Control Board. Moreover, Rob Norton, Cordish Gaming Group and Live! Casinos’ president is also expected to attend the celebratory event.

Interviewed by the publication, John Chaszar, Live! Casino and Hotel Louisiana’s general manager and vice president, spoke about the excitement the project brings. “Every day is different, that’s the best thing about this business,” he revealed.

The Project Is Expected to Deliver Significant Economic Stimulus

Upon announcing the start of the project in Louisiana, the Cordish Companies estimated that it would generate an excess of $200 million in taxes for the first five years. That total breaks down to nearly $170 million to the state of Louisiana and some $35 million to Bossier City.

Besides the enormous economic stimulus, Live! Casino and Hotel Louisiana is expected to boost tourism and help local businesses grow. Further benefits of the project include the creation of more than 750 permanent jobs.

The Cordish Companies’ newest casino is going to be the first land-based venue for the Shreveport-Bossier City area. Once completed, the casino will offer nearly 50,000 square feet of gaming space that will be the home of a sportsbook, table games, as well as electronic table games and slots.

Besides casino gambling, Live! Casino and Hotel Louisiana will offer a hotel with more than 500 rooms, as well as a range of restaurants and bars, among other amenities.

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According to a press release from Caesars Entertainment, a very lucky player from Middle Village, New York enjoyed a particularly fun and lucrative gambling session at Paris Las Vegas Casino earlier in the week. 

$436,000 Jackpot at Three-Card Poker

The poker player, whose identity has remained undisclosed, was in town to show support for his nephew who was playing in the World Series of Poker. 

Much to his surprise, the man hit the Mega Progressive jackpot with the help of a royal flush while engaged in a three-card poker game. 

He left the casino $436,588 richer, as the press release mentioned. 

When asked what he plans to do with the unexpected win, he said he wants to invest it. 

Impressive Roster of Winners on the Las Vegas Strip 

In mid-May, a young man who was celebrating his 21st birthday in Sin City took home a surprising $362,640 jackpot. 

Half an hour. That’s all Damon Howell, a resident of Union City, Ohio, needed to hit the Mega Progressive Jackpot at a game of Ultimate Texas Hold’em at the LINQ Hotel+ Experience on The Strip. 

While still “overwhelmed with shock and disbelief,” the young man didn’t provide a lot of details regarding what he plans to do with the money. However, he hinted that he might buy a house. 

In March, another lucky player won $165,000 while firing up the slot machine reels at 5 am at Caesars Palace Las Vegas, kept playing, and ended up striking a breathtaking $545,000 jackpot just five hours later. 

Just a week before the fabulous double win was recorded, a guest at the Planet Hollywood Resort & Casino grabbed a jackpot with more than $1.2 million after hitting the Mega Progressive Jackpot at a game of Pai Gow Poker. 

Similar to the double win story, in April, a player in Las Vegas won more than $1.36 million across not one, not two, not three, but four slot machine jackpots within two weeks. 

His first three big wins were recorded in just three hours.

Caesars Palace described the player’s impressive winning streak as “a remarkable feat!”

The first win of $125,000 came at a Dragon Link slot machine in the Caesars Palace casino followed by a second win of $383,500 on the same game. 

Three hours after the first win, he hit the third jackpot of $159,250, followed by the fourth and final one of $692,500. 

Earlier this week, analyst Barry Jonas of Truist Securities spoke about the strong performance recorded by the Las Vegas Strip, while detailing his optimistic overview regarding the gambling hub’s growth prospects. 

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Known as the gambling capital of the world, Las Vegas offers supreme entertainment and hospitality options. With a range of hotel casino resorts, visitors from across the globe can find the perfect venue that matches their taste. While millions visit Sin City every month, the lucky are only a few.

Undoubtedly, one visitor of The Venetian Resort in Las Vegas will always remember his stay. This is the case of Kevin Schenk, a guest from Canada who banked a hefty jackpot after playing at the casino resort, local media outlets reported.

On the last day of May, Schenk was playing Face Up Pai Gow at The Venetian. After securing five aces, the lucky man hit a sweet $219,578 jackpot.

To tap into a portion of the progressive jackpot from the game, which was nearly $2 million, the lucky visitor placed a $5 side bet. Being lucky enough to hit the five aces, the man won big.

Visitors to The Venetian can enjoy two casino floors as well as a separate poker room. Recognized for its luxury amenities, The Venetian offers not only gambling entertainment but a wide range of world-class restaurants.

Further amenities available for visitors to the resort include the TAO Nightclub, Voltaire, as well as unforgettable experiences Grand Canal Shoppes.

Similar to other Las Vegas luxury resorts, The Venetian supports a loyalty program called Venetian Rewards. Customers of the luxury resort can earn points while gambling and can unlock exciting experiences, special offers and unique perks and benefits.

Lucky Man Wins $5 Million After Following His Inner Voice

Elsewhere in the United States, a North Carolina man won a $5 million jackpot after following his inner voice. The man from Concord felt the urge to purchase a $30 lottery ticket that ultimately resulted in him winning the mind-blowing jackpot.

The lucky man purchased a ticket for the 200X The Cash lottery game from a business near his workplace. When facing a lottery vending machine, the lucky man felt the urge to pick a particular ticket. Once he scratched off the ticket, he realized that he won the life-changing prize.

Similar to other multi-million-dollar prizes, the man can either receive a lump sum of $3 million or opt for annual payments of $250,000 per year for 20 years.

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Any jackpot win brings excitement to the lucky few who are able to experience it. While some gamblers may lose thousands without winning a grand prize, others have luck on their side which is why they get the thrill and excitement of going home with a hefty payout. This is precisely the case of one Plaza Hotel & Casino visitor in Las Vegas, who recently collected a six-digit win after gambling at the casino.

The lucky winner, Shawn, whose surname was not disclosed, played Pai Gow poker on Tuesday. Hitting a seven-card straight flush, the lucky gambler secured the game’s progressive jackpot. The grand prize from Pai Gow poker secured by Shawn was $206,589.

In addition, the man won a Fortune Bonus bet, which added an extra $12,500 to the progressive jackpot. Overall, Shawn secured a $219,089 payday after his visit to the popular casino located in the heart of downtown Las Vegas.

According to FOX5, Shawn is a local player from Las Vegas. After he scored the jackpot from the game, the grand prize was reset to $10,000.

“Congratulations to Shawn on his 7-card straight flush on Pai Gow poker for a total progressive hit of $206,589 as well as a Fortune Bonus bet for another $12,500. The total amount of the win was $219,089,“

reads a statement released by Plaza Hotel & Casino

More Winners Secure Jackpots

The latest win comes on the heels of another thrilling jackpot drop at Plaza Hotel & Casino. Last week, a visitor of the downtown casino was able to secure a four-figure jackpot after placing a bet that was less than one dollar. At the time, the lucky player hit a $7,721 jackpot with a $0.75 bet. Undoubtedly, the person who won the jackpot will never forget this visit.

Earlier this month, a young person celebrated his 21st birthday and was able to score a whopping win of nearly $363,000 at a Las Vegas casino. The lucky young man visited the LINQ Hotel+ Experience and started gambling shortly after turning 21.

To his surprise, after 30 minutes, the young man secured a $362,640 MEGA Progressive jackpot from playing Ultimate Texas Hold’em, local media reported at the time.

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The leading supplier of unique casino games and iGaming aggregator, Relax Gaming, announced that it made another lucky only player millionaire thanks to a Dream Drop Jackpot win. The company confirmed Friday that a player at Unibet casino secured the latest Dream Drop Jackpot, pocketing a whopping €2.7 million ($2.9 million) prize.

The latest mouth-watering prize represents the second grand prize from Dream Drop Jackpot for the year so far and fourteenth overall. The monumental win comes after back in January, a lucky player hit the thirteenth Mega Jackpot drop and the first for 2024.

To secure the grand prize, the customer played Print Studios’ Pine of Plinko Dream Drop via Unibet. Ultimately, the lucky online gambler was able to hit the grand prize after placing a tiny €3.50 bet. Besides Dream Drop, Pine of Plinko Dream Drop offers other engaging features, including multipliers, feature bet and Pinko Bonus, among other functions.

David Robertson, the director of casino and gaming at Kindred, Unibet’s parent company, was excited about the latest win. “The Dream Drop Jackpot has quickly become known for allowing players to win incredible jackpots, adding a layer of excitement to the gameplay experience, we are delighted to see the latest winner play at our casino,” he said. Finally, Robertson congratulated the lucky player.

Relax Gaming Enjoys a Wonderful Start of the Year

Filip Wargeus, Print Studios’ CCO, was also excited about the recent jackpot win. He said that the company strives to offer engaging and rewarding experiences to its players. This is why, Wargeus said, Print Studios decided to add the popular Dream Drop Jackpot feature into Pine of Plinko. In conclusion, he pointed out: “We have seen great levels of engagement with the game and we are thrilled to have seen a millionaire made playing one of our titles.”

Back in 2023, Relax Gaming was recognized with the Product Launch of the Year award by the GGA for its Dream Drop Jackpots. As a leading supplier of online casino games, the company offers more than 4,000 quality titles. Forging partnerships with iGaming operators and aggregators, Relax Gaming successfully grows the reach of its games.

“To have created two millionaires so early in 2024 is a wonderful start to the year for our portfolio of Dream Drop titles.“

Simon Hammon, CEO at Relax Gaming

Simon Hammon, Relax Gaming’s CEO, revealed that it is exciting to see two millionaires early in the year, who have secured huge Dream Drop Jackpots. While he said that last year will be remembered considering the number of jackpots won, Hammon also predicted that the company may surpass previous records this year.

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The online gambling market in Pennsylvania is rapidly growing, which is proven by the fact that revenue smashed the records in February, even though other states recorded a year-on-year decrease in revenue.

Online gambling revenue

According to the report, Pennsylvania generated $184.9 million in online gambling revenue in February.

Overall, the revenue was $499.1 million. Compared to the same period the previous year, an increase of 9.3% is recorded, since in February 2023 the revenue was $456.8 million. However, in January 2024, the total revenue was $464.4 million, so February recorded a decrease of 1.6%.

The main source of revenue in Pennsylvania is still retail slots which generated $202,7 million. The revenue was slightly decreased, but the growth is recorded when considering the number of slot machines decreased from 25,708 to 24,962.

Land-based table games also had a successful period, since the revenue generated from them was $76,6 million, representing an increase of 2.9%. In 2023, the Pennsylvania online gambling market reached a revenue of $131.6 million. Compared to that, total iGaming revenue grew by 40.5% to $184.9 million in 2024.

Online slots generated $125.9 million, 35.6% more than in the previous year, while online table games earned $56.6 million, which represents an increase of 56.7%. Online poker wasn’t as popular as it used to be in 2023, since it generated $2.4 million, 8.3% less than in the year before.

Industry leaders

The casino that saw the highest revenue is Hollywood Casino at Penn National Race Course. Its online gaming operations earned $77.3 million in February, 36.8% more than in the same month of 2023.

The second place took Valley Forge Casino Resort, which generated $44,8 million. The casino operations saw significant growth since the revenue increased by 63.0%. Rivers Casino Philadelphia took the third place, with $29.3 million and an increase of 11.4%.

Sports betting revenue

On the other hand, sports betting isn’t as popular as it used to be in 2023. When it comes to total revenue, it decreased by 30.0% annually, and in February 2024 it was $30.3 million. The online betting sector saw $28.2 million, and retail revenue was $2.1 million.

However, the total handle increased by 10.4%, and in February it was $661.7 million, while in 2023 that number was $599.5 million.

A leader in the sports betting industry was Valley Forge Casino Resort and its partner FanDuel that earned 17.7 million in revenue. The second was Hollywood Casino at the Meadows and DraftKings, with $7.7 million in revenue, and Hollywood Casino Morgantown and BetMGM were the third with $1.2 million. Video lottery terminals saw a decline of 2.4%, with a revenue of $3.2 million, and fantasy sports decreased by 5.2% to $1.3 million.

Source: Fletcher, Robert. “Pennsylvania iGaming revenue reaches record $184.9m in February”. iGaming Business. March 20, 2024.

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The leading casino entertainment company with a strong presence within the online gambling sector, Caesars Entertainment, announced that one lucky player from New Jersey secured a whopping $400,000 jackpot while playing at Caesars Palace Online Casino. The player, identified as Craig W., of Newfoundland, New Jersey, was enjoying the Da Vinci Deluxe Ways on his smartphone. The lucky player was pleasantly surprised after hitting the game’s jackpot, a whopping $436,898.

The six-figure win represents the largest prize won on Caesars Palace Online Casino to date. The iGaming platform was launched by Caesars back in 2023. In addition to Caesars Palace Online Casino, Caesars’ online casino portfolio includes Caesars Sportsbook & Casino, Harrah’s Online Casino, Tropicana Online Casino as well as WSOP.COM.

To celebrate the winner of the largest jackpot on Ceasars Palace Online Casino so far, the leading gaming and hospitality company hosted a special check presentation ceremony for Craig and his friends. The celebratory event included a complimentary stay at Tropicana Atlantic City, including a dinner at il Verdi.

Caesars confirmed that the lucky player treated himself to a new car, bought in cash. Moreover, Craig used the money from the jackpot to settle a small debt. More importantly, the lucky player also shared the winnings with his family and friends.

Caesars Is Excited to Celebrate with the Big Winner

Matthew Sunderland, Caesars Digital’s SVP and chief iGaming officer, shared his excitement about the latest announcement. He said that the company is proud to offer its guests and iGaming customers exceptional experiences. “Congratulations are in order for Craig and his exciting jackpot win that represents the biggest win we’ve seen so far on our new platform, Caesars Palace Online Casino,” added Sunderland. Finally, the executive explained that Caesars is excited about the opportunity to host a party for the lucky winner and his friends, celebrating the historic jackpot win.

Craig recalled the moment when he won the mouth-watering prize. He said that his initial reaction was: “This can’t be real life! You see and hear about people winning a jackpot, but I never thought it would happen to me.”

Recently, Caesars confirmed it extended its long-term deal with the National Hockey League (NHL). Announced earlier this month, the collaboration enabled the operator to continue serving as the NHL’s official sports betting and gaming partner.

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