Las Vegas formerly the world’s #1 gambling destination is set to be ranked 3rd behind Macau and Singapore.
Las Vegas is experiencing a crisis of its own. Many land-based casinos there were crying they were losing money to online Casinos but that is probably not the biggest problem they are facing. The reality is there are more casinos around the world that are competing for your gambling dollars. Las Vegas is a worldwide tourist attraction and for many years Sin City was the business and entertainment capital.
Now the great thing for gamblers is that if you want a high-quality hotel and a cheap but fun vacation, Las Vegas is becoming the perfect place for that. You have amazing poker tournaments, and many massive casinos to play at with quality service, you have some of the best hotels in the world and 5-star hotels available at affordable rates, what more can a gambler ask for? However, Las Vegas isn’t making the money it used to and let’s look at all the reasons for it.
Macau has already taken over for making more money than Las Vegas and it didn’t take long. Many Asians used to fly over to Las Vegas to do their gambling and this included some serious high rollers and whales. Las Vegas is a long flight from many Asian capital cities and now Macau is the new Las Vegas of the east. Actually, people that have been to both Las Vegas and Macau, people say Macau is better and bigger, and the service there cannot be matched anywhere in the world.
The new casino in Singapore is a massive gambling zone. Singapore also has a lot of tourists and high rollers that come through the casino doors. Now, this represents 2 massive gambling zones in Asia that will attract more tourists worldwide and will keep Asian gamblers closer to home. These 2 casinos alone are making a dent in the profits of Las Vegas. Both gambling zones individually now make more than Las Vegas at 6 billion USD per year.
More casinos in the US and worldwide
Many areas in Canada, the USA, the UK, and Europe typically see a lot of people travel to Las Vegas. Now casinos are becoming more local as provinces, states, and countries want to keep the profits in their own area. The number of casinos that have been built in North America is staggering and it is going to come at the expense of Las Vegas itself. Now everything is getting regulated with governments enjoying the tax revenues that come in from Gambling. Even in a major city like Toronto, there are discussions about building a casino there. Another discussion taking place is another mega-casino resort in Florida as there are a lot of wealthy people there that would be able now to spend locally. Florida also gets a lot of tourists all year round and this would certainly increase revenues there. At any given moment there is a new casino launching somewhere around the world and eventually, it won’t be just Las Vegas wanting to be the biggest resort. These are 3 mega-gambling destinations and you can certainly expect more to be built around the world including Europe, South America, and Asia.