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Commercial gaming is still prevalent. The statistics speak for themselves, as the gaming revenue grew 15.5 percent in the first quarter of this year according to the American Gaming Association (AGA). But since commercial gaming has branched off to online casinos, this has transformed the gambling sector.
In 2021, there was a total of 981 physical casinos according to AGA. This includes commercial and tribal casinos. Looking at the statistics, casinos are still the most prevalent considering the total revenue in the gaming market.
Even though the gambling market consists of sports betting and lotteries among others, the Brick-and-Mortar casinos are still dominating the market, as they account for the largest share. Even though the pandemic put a halt to playing at the physical casinos, they have quickly regained a foothold. In the first quarter of 2023, the traditional casinos grew fast as the sector surpassed the revenue of the third quarter of 2022. Therefore, Brick-and-Mortar-casinos aren’t going anywhere in the nearest future.
Appearing as the ‘new kid on the block’ online casinos have taken, not only the U.S. but the world by storm. During the pandemic, when players couldn’t visit land-based casinos, as the risk of COVID outbreaks was too high. Online casinos then became another opportunity to participate in table games and slot machines among others. Online casinos, which fall under the term iGaming, have become highly popular with revenue of 9,5 billion U.S. dollars in 2021.
Online casinos usually offer the same games as the physical casinos, but with different features and bonuses that are not available at land-based casinos. Online casinos are a gateway to a new period of playing at casinos, therefore, learn more about online casinos here if you wish to make out the new trend.
The U.S. government lets the states regulate their gambling laws. In the states, where casinos are legal, they are also very often highly regulated. And in some states, commercial casinos are allowed, whereas sports betting is illegal. Sometimes it is the opposite such as in states like Arizona, where commercial casinos are not allowed, but sports betting and online gambling are legal and regulated.
The future of Brick-and-Mortar casinos is therefore highly dependent on the gambling laws of the state. Some states are looking at opening up the laws for sports betting, but it is unsure whether commercial casinos will be a part of new legislation.
An example of another development in the land-based casino sector is the Atlantic Club Casino Hotel. The casino is located in Atlantic City, one of the country’s biggest casino destinations. The boardwalk in Atlantic City is a well-known place for offering great casino opportunities and restaurants.
But the Atlantic Club, a casino well frequented by locals, had to close down in 2014. This was a prioritization move to let other casinos like Caesars prosper. This is an example of how some land-based casinos might have to close down in the future due to budgets and the surrounding casinos.
