For the sixth month in a row Nevada casinos have generated over $1 billion in gambling revenue, putting them in prime position to reach $12 billion in revenue this year. This marks the second longest streak for the state of months with over a billion dollars in revenue. August saw $1.16 billion for the state from gaming and follows an all-time record $1.36 billion posted in July. This current revenue streak of six months began back in March of this year. The longest streak of billion dollar months ever was seven months and took place between November of 2006 and…

MGM Resorts has announced an agreement with the Blackstone Group which will allow them to acquire operation of The Cosmopolitan at City Center on the Las Vegas Strip. The deal includes a cash consideration of over $1.6 billion. What’s unique about this agreement is that it separates the physical property from the operations of the resort. Blackstone has said Monday it will sell the property itself for $5.65 billion, but MGM now has a 30-year lease agreement. The Cosmo originally opened in December of 2010, but was purchased by Blackstone in 2014. MGM Resorts CEO Bill Hornbuckle stated that they…

Politicians may have opposed it for years, but gambling in America is viewed in a positive light by a majority of citizens… and that includes sports betting. According to data provided by the American Gaming Association, almost 70% of people think that the gaming industry conducts activities responsibly, and those who say the industry is committed to responsible gaming increased by nearly 40% since 2018. Nearly 80% of past-year gamblers are aware of industry-provided responsible gaming resources. At this time, more than 70% of people in the country see legalized sports betting as a positive thing and are in favor…

It may not be the largest market, but Ohio gambling revenue has joined the record breaking party, as over over $194 million was generated from gaming in the state in August. This was the third consecutive month for revenue records, as Monthly July generated over $211 million, while June was just short of $197 million. The Ohio Casino Control and Lottery Commission reports that the record breaking month brought the states year-to-date gambling revenue to over $1.6 billion. They permit the state’s four casinos to offer table games, lot machines, and have poker rooms. Making the Ohio gambling revenue record…

A record 45.2 million Americans (18%) plan to bet on NFL games this season, according to research released today by the American Gaming Association (AGA). Compared to last year, 36 percent more Americans will place a bet on the league’s games this season. The sharp rise in betting plans this year can be traced to the expansion of legal sports betting options and increased enthusiasm overall for the upcoming season. Fans in 18 states and Washington, DC had access to operational, legal sports betting at the start of the 2020 season. As the 2021 season kicks off, Americans will be…

The Blackstone group is once again looking to the sell their Cosmopolitan Las Vegas property. And all you need to add this resort to your portfolio is a meager $5 billion… maybe more. It’s being reported that Apollo Global is exploring an offer. Another potential partner is MGM Resorts International. However, representatives for Blackstone, Apollo and MGM all declined to comment. Blackstone, the New York-based investment firm, tried two years ago to find a buyer at $4 billion or more. Prices for Las Vegas casinos have continued to rise despite the pandemic as real estate investment trusts purchase properties and…