The truncated answer is a resounding NO!. So why do we pose this question? Well, every once in a while we need to address these issues as the online casino industry is always in flux and constantly changing. But the specific reason for bringing up Cryptocurrency is the popularity of these payment methods by both players and casinos.   What has changed with Crypto in the past few years? If you go back to the inception of Bitcoin and other Crypto Currencies, you’ll see that they were created for a specific purpose and for certain individuals. The idea was to have an alternative “currency” which could be used without the regulation and oversite of governments and influenced by the Global Markets. This is a simplifies…

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While the Online Casino industry was growing before Covid it is now booming, the likes of which we have never seen. The Covid has provided a boost to online gambling of all sorts and introduced players who would have never even imagined going online to gamble. This is evidenced by the consolidation of many companies and the premium in the price to purchase these companies. The most recent acquisition happened in October of this year (2021) with Playtech agreeing to be purchased by Aristocrat. Aristocrat Leisure Ltd. is an Australian slot company which in many ways dominates the “Down Under” market. The purchase of Playtech Plc for $3.7 billion was a 60% premium over the market price. These acquisitions are not based on the market…

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In June, with a bit of naysaying, we discussed the future opening of Circa Hotel/Casino in Las Vegas. During the current climate of the Coronavirus and Las Vegas suffering through its worst economic droughts in history, we felt that the chances were slim to none that Circa would be open by October. But with the some very hard work and determination, the owners and everyone involved was able to pull off this feat in a spectacular fashion. What does the Future hold for Circa Casino?  That is the million-dollar question for both the owners, employees, and people of Las Vegas. Opening a new casino/hotel when current ones are at around 40% occupancy is a big challenge. On top of this, all Casinos are limited to…

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As the Coronavirus lingers on and cases continue to rise many businesses have closed while the travel industry has taken a big hit. The Casino business being part of the travel industry has taken a huge blow to its bottom line with no other place like Vegas being hit the hardest. But with all of the doom and gloom and the future projections being unfavorable, Las Vegas is not taking this Virus sitting down and has been adapting to the continuing change. What is Vegas doing to Counter the restrictions of the Pandemic? In an article published in the Wall Street Journal on October 25, 2020, Nat Ives interviews Kate Wik who is the chief marketing officer at the Las Vegas Convention and Visitors Authority. We…

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Online casinos are always going through some type of evolution or transformation. Much of this has to do with financial transactions occurring during real money play. The banking methods, both withdrawals and deposits, have continually come under scrutiny by the regulators as well the countries from where the online casinos operate. There are still methods that are approved, but not as many as there were previous. As this trend continues casinos need to find more ways of allowing real money players to play as well as making the transactions as simple and trouble-free as possible. Fortunately, there is a solution which comes in the form of Crypto Currencies. These aren’t new, although we are seeing more and more online casinos accept these forms of payments.…

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As we have mentioned before in previous articles, the online casino industry has seen an increase in business since the being of the Coronavirus Crisis. Many of the reputable online sites are reaping the financial rewards of this pandemic because of the closing or limited access to the brick and mortar casinos. But as the pandemic continues and the large publicly owned casinos such as MGM Grand continue to loss money, many of these behemoths are starting to focus on the opportunities in the online market. According to the Wall Street Journal, August 16, 2020, the revenue for these companies has dropped as much as 97% in the last quarter compared to 2019. The US Market and the Future of Online Casinos Much of the…

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Once as popular as Horse Racing, Dog Racing or the “Greyhounds” is a part of the gambling culture as well as a form of entertainment. But with Animal Rights activists clamping down on anything they see as “inhumane”, most of the Tracks in the US have closed. Good for the dogs but bad for gamblers and people employed. At the current numbers there are only 4 legal dog tracks in the US, 2 of which are all in the State of West Virginia. I say “legal” because of the so many illegal dog fighting venues there is probably some form of illegal dog racing going on as well. Being banned in 41 of the 50 States, there is no appetite for most people to go…

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On top of being the number one destination for gambling in the US, Vegas is also has the largest amount of space for trade shows. The largest, which is the CES (Consumer Electronics Exhibition), has their convention in Vegas in January annually which usually spans 3 million square feet (278,709 square meters) and attracts 171,000 people from across 164 countries. In following the closing of all the Casino and Hotels in Vegas as well as some of the slow reopenings, the trade group which organizes the CES show has decided to cancel the event in Vegas and hold the event in January virtually. This is just another nail in the proverbial coffin for Las Vegas which in May had an unemployment rate of 29%. Along…

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Discussions abound concerning the “New Normal” for post Coronavirus. What once was normal in all aspects of society before the Virus has evolved and will be replaced by the post-Virus way of life. There is no part of society that has not been affected by this Black Swan, but the question remains of what will happen once the Virus is gone, and people are faced with a new world. E-Commerce has been booming as access to goods and services is limited and those in need are using the Internet for most of these products. This is also true with those who enjoy their land-based casinos and have reverted to gambling online. The online experience is no where near what its like to go to a…

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Did Las Vegas jump the gun last month when it decided to reopen? I do not believe we can answer that question right now, but what I can say is that if Vegas is guilty of jumping the gun, then so is the rest of the country. But since we are focusing on Gambling, lets see where Las Vegas is as of July 8, 2020 since its reopening as well the increase in Corona cases. The past 4 months has been a disaster for the Sin City economy which includes everything from Casino/Hotels to the rental car agencies. With Hertz declaring bankruptcy 2 months ago it is easy to see the wide-ranging effects of the virus. Vegas, which like Hertz depends on vacationers and travelers,…

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