Casino News: Nevada Casinos Exceed $1 Billion in Revenue, Sports Betting on California Ballot in 2022

Nevada Casino Revenues - California Sports Betting

Nevada is alive and well. If you thought The Strip was going to be knocked out by COVID-19, you’re mistaken. The Silver State is on the cusp of hitting record revenue numbers. We’ve got the full details for you below:

Nevada Casinos Break $1 Billion In Revenue for Sixth Straight Month

Nevada hasn’t let the past year get them down as their recovery process has been one of the best in the nation when it comes to gaming. The state recently reported their sixth straight month in which their casinos earned more than $1 billion in total revenue. The official numbers that were released by the Nevada Gaming Control Board state that they brought in $1.165 billion during the month of August, a small dip from the $1.35 billion they got in July.

Tourism was and will continue to be an integral part of the success of these casinos in the Silver State. July was record-setting because they saw 3.3 million tourists visit the area. Those tourism numbers dropped 9.2 percent which makes sense considering the revenue dropped a small amount as well.

If Nevada can somehow piece together a seventh and eighth straight billion-dollar month, they would tie their record for most 10-figure months consecutively.

California To Place Sports Betting On The 2022 Ballot

Sports betting has been a massively popular topic the last year in multiple states and it seems like California is finally starting to join the party. It has been wildly difficult to get sports betting legalized there but there seems to be a breakthrough. As of right now, there are three different sports betting initiatives that could appear on the upcoming ballot for voters to get their say on. However, to actually get it on the upcoming 2022 ballot, residents will have to gather roughly 997,00 signatures from voters.

The first initiative already has those required signatures and would allow for sports betting at brick-and-mortar casinos in the state, though they don’t plan on legalizing online betting. The second initiative would allow casinos to offer both online and brick-and-mortar sports betting. It would tax all profits at 15 percent but operators would be able to partner up with different online betting companies to run sportsbooks.

Finally, the third initiative is just online betting. If this ends up getting passed, there will be no retail sports betting. They would have taxed profits at ten percent and could partner up to help out their sportsbooks just like the second initiative.

Pokerstars Forced To Leave The Netherlands By November 1st

PokerStars has been temporarily banned from the Netherlands. The country is currently implementing new laws that were passed last April and PokerStars won’t be able to compete in their market for the foreseeable future. All regulators have to cease operations by the start of November until their new laws can get settled in and the government can figure out what they want to do moving forward.

If PokerStars were to refuse to leave the area, they would face fines ranging between 150,000 and 600,000. It is currently estimated that PokerStars and other companies will be allowed to return by the end of 2022 or the beginning of 2023.