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HOW ONLINE CASINOS ARE BEATING THEIR LAND-BASED COUNTERPARTS

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Casinos around the world have always been a popular destination for those looking to try their luck on a whole range of classic games and casino-based experiences. However like many other industries land-based casinos have had to evolve with the development of technology and the demand of new and innovative services that comes with it. With a steep rise in the number of owners who now currently use a smartphone or other mobile-based device and with WiFi connections increasing in speed all the time more of us have turned to this new technology in order to shop, play and socialise. Whilst this new medium has opened up a whole new revenue stream for many casino operators, who have been able to translate their services to the online market, it has left many traditional land-based casinos playing catch-up.

 

 

A little earlier this year the Nevada Gaming Control Board revealed some rather alarming figures based on recent takings across Las Vegas. These figures reveal a drop in the gross gaming revenue across the resort city for the third month in a row. Slot machine takings and their volume of play on the strip were down by 8.2% whilst table play fell a massive 24.3% overall. In May this year the total revenue stood at $531 million which when compared to the previous years figure of $601.2 million was a significant drop of 12%. This drop was not surprising as the figures had been lessening each month throughout the year and there is still fear that this drop will continue.

 

Itís scenarios like this that also have had a major impact on the market with shares for many major casinos, such as MGM Resorts and Las Vegas Sands, also taking a hit during this period. This decrease in revenue has resulted in a 4.5% decline in statewide gaming revenue which had dropped to $958.1 million compared to that of its $1 billion value takings just 1 year ago.

 

There are many factors to take into account that could and would have an affect on such a considerable drop in sin city. Of course there is already hope that things will pick up slightly when a number of new venues that are planned to open across the city welcome in visitors in the near future. But whilst this might be a short-term solution in order to get a bit of a revenue boost there doesnít appear to many long-term plans in action in order to tackle this rising issue.

 

The main culprit, it is believed, that is having such an impact is the evolution of the online casino market. Developers have been able to recreate traditional casinos into new and bright virtual environments where players can gamble till their hearts content from the comfort of their home at any time they wish simply with a few taps here and there. Games such as live roulette can be enjoyed on the way to work or by sitting on a bus and each game provides you with live croupiers and dealers meaning that the casino experience is even more immersive than ever before.

 


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