Is Las Vegas all about in-land casinos? - Baltimore Post-ExaminerBaltimore Post-Examiner

Is Las Vegas all about in-land casinos?

Las Vegas gambling operators are facing tough times. Fees are rising, competition is becoming more and severe and the rise of online casinos is impacting their business models.

After the 2009 recession, in-land casinos in Las Vegas had to struggle to become profitable again. They had to reenergize their business with the help of conventions, international high rollers and increased methods of entertaining their guests. US-based gamblers reportedly spend less money on actual betting than on foods, drinks and other forms of entertainment. Overall, the numbers in Las Vegas have been mostly declining and it doesn’t spell a hopeful future for these businesses unless they find a way to adapt and change.

Casinos face struggle in Las Vegas

However, business finds a way. In-land casinos are trying to utilize the new rules of the game. Las Vegas-based companies like MGM Grand or Wynn are already using different platforms for their betting and gambling services in an effort to offset the declining revenues from traditional forms of gambling.

They’re met with very stiff competition on these platforms. Your 20 story luxury buildings with 5-star hotels won’t help you pry away the customers from established brands on the internet. Websites like manage the constantly expanding lists of highest rated online casinos for different tastes and needs. In-land casinos have to move fast in order to meet the demands of the market and deal with the regulations. In the new era, business for Las Vegas casinos is starting to become less and less about in-land operations. There might come a point in time when the brick-and-mortar aspect of casinos in Las Vegas will serve more as a brand awareness mechanism and not the main source of revenue for these businesses.

Gambling keeps evolving

Gambling has been an integral part of civilization for thousands of years. The first casinos are recorded in Venice, however. Even since then, casino madness has engulfed the World, with Western saloons evolving in the bastions of decadence like Las Vegas.

However, true popularity didn’t hit the gambling industry until the ’90s. The internet changed everything forever in every industry you can think of. Gambling wasn’t an exception. All of a sudden, you could indulge in a game of poker, blackjack or roulette from the comfort of your home. Sometimes it was safe, sometimes – not so much. Things only escalated as personal computers stopped being a luxury and appeared in every home in America.

The new online gambling reality

Online gambling has stopped being the new Wild West. It’s now a legitimate, heavily regulated economy sized at over 50 billion USD. That figure is expected to almost double over the next 5 years. People are also increasingly comfortable trusting online gambling providers with their funds and personal information. Security measures are reaching extremely far.

Mobile gambling is another new trend. Smartphones have basically become miniature computers in this new digital era. This adds another layer to the competition Las Vegas casinos have to deal with. The new business landscape is more of a frontline for these companies as they wage war for survival and profit.

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