Is Las Vegas finally back?

Looks like Las Vegas will be back in the first half of 2021 to its old form, which is good news for tourism and great news for investors. This is yet another sign that the US has recovered from the lockdown from the pandemic, but hasn't backed down from the online gambling that flourished so well in 2020.

Sin City is back to normal

Statistics from the Las Vegas Convention and the Visitors Authority show that from January to March of this year, the number of visitors almost doubled . The numbers are still behind pre-pandemic levels, but they predict a return to normal before the end of the year.

Gambling on the Strip followed this trend. Income from betting increased from $322 million in January to $501 million in March . While convention numbers are still in anticipation due to the ban, the overall growth in core business bodes well for everything from shows to individual chapels.

However, the Vegas economist John Restrepo made a small disclaimer:

The economy here is so dependent on tourism, so how the economy improves across the country will determine how and whether Vegas actually recovers.

John Restrepo

Traditional companies bet on online gambling

Even with the hype surrounding the resumption of play in Vegas, the big names on the Strip take steps in side of online gambling.

Traditional gambling companies recognize the online gambling market not because of its growth potential, as well as due to the fact that the business is expanding . Investing in Internet businesses does not require multibillion-dollar investments in land and buildings to generate revenue, as it does with physical expansion.

Acquisition of online gambling

Earlier this year, Caesars Entertainment acquired London-based online gambling giant William Hill. for $4 billion to take advantage of the internet betting market.

A recently Wynn Resorts did the trick by merging its Wynn Interactive online division with Austerlitz Acquisitions to hope to expand its presence in the online sports betting and iGaming markets.

Online rates continue to rise

Companies have been tracking the surge in online betting in recent years and are seeing this boom as an opportunity. The market for online casinos, poker sites and bookmakers on real money grew from $36 billion in 2016 to over $60 billion last year .

Experts expect this trend to continue, fueled by the US online gambling market. Expansion of the American segment to a large extent due to changes in state laws in recent years.

There have also been signs of a surge in online gambling outside of the traditional industry. The most notable example was Sony's announcement of a patent that would allow eSports betting through their PlayStation platform.

The Future of Las Vegas and Online Gambling

The pandemic has undoubtedly affected both of these areas over the past year: in the red for Las Vegas and in the black for online betting . The medical community seems to think there is a chance for a new surge, perhaps due to ongoing options. But with the surge in vaccinations, the surge should be small and record no more than a surge in the Las Vegas scene.

Las Vegas still needs the convention movement to get it working again. In addition, mid-week hotel occupancy is still below 50%. All things considered, The future of Las Vegas looks good and even better for online gambling.

The message "Las Vegas is finally back?" first appeared in US online casinos.

Source: onlineunitedstatescasinos.com