Casino News: Wynn Sells Encore Boston Harbor Assets to Realty Income, AGA Reports $53 Billion in 2021 Revenues

Casino News Roundup

The Nevada casino saw record numbers in terms of Super Bowl betting. We’ll get to the big news there but first, a couple of other key headlines to cover in this week’s roundup for the news.

Wynn Set To Sell Real Estate Of Casino

Wynn Resorts has just announced that they have entered into a deal that will sell all of the land and assets that are attached to Encore Boston Harbor, which is a surprising move. The property and assets will be sent over to Realty Income in exchange for $1.7 billion in cash. However, Wynn Resorts will continue to operate the property.

Why it’s surprising is Wynn Resorts has been through a lot with Encore Boston Harbor and it looked like they were finally through the turmoil.

The company also announced that they signed a triple-net lease agreement with Realty Income. The lease is expected to have an annual rent of $100 million over a 30-year term. The lease is also expected to increase at a 1.75 percent rate throughout the first ten years of the deal.

The only steps left to make this deal official is if the gaming regulatory approves the transaction and the government is able to sign off on it. Though it is looking likely that it all gets sorted out sooner rather than later.

Commercial Casinos Bring In $53 Billion In 2021

The American Gaming Association just released its revenue numbers for the 2021 year and it was incredibly good news. According to the report, all commercial casinos in the United States had brought in a total of $52.99 billion throughout the year. This number actually goes down as a whopping 21 percent increase compared to 2019, which was their previous record for revenue in a year until now.

The fourth quarter of 2021 also happened to be the most successful time for gambling revenue. They brought in $14.31 billion in that time, which is 30 percent more than the fourth quarter in 2019.

Online gambling has been growing tremendously over the past year or two but that surprisingly wasn’t the most successful area in 2021. That title goes to brick-and-mortar tables games, slot machines, and casino sports betting. These groups hauled in $45.62 billion of their 2021 revenue, a 7.6 percent increase over the 2019 totals.

NV Sportsbooks See Record Sum On Super Bowl

The Super Bowl numbers are in and they’re quite impressive. Nevada sportsbooks had to handle a ridiculous number of wagers for the NFL’s championship game as the Nevada Gaming Control Board just announced that $179.8 million worth of bets were placed on the big game in the state’s 179 different sportsbooks. Out of that large number of wagers, the sportsbooks were able to win $15.4 million themselves. This resulted in a hold percentage of roughly 8.6 percent.

This is without a doubt the most amount of money wagered on the Super Bowl in Nevada history. The previous record was set back in 2018 when $158.6 million bets were placed. However, their hold percentage was a little lower than the previous year. 2021’s Super Bowl saw a 9.2 hold percentage and 2020 had a 12.1.

Looking at the country as a whole, it was estimated that roughly $1 billion worth of bets were placed on the Super Bowl.