Casino News: Nevada Casinos Post 7th Straight Month of $1 Billion Revenues, Miami Leaders Ban Gambling Expansion in the City

Miami Casinos Banned | Nevada Monthly Revenues

This week’s casino news starts off in Nevada where the revenues reports are impressive. For those thinking that they’re still struggling, think again.

Nevada Casinos Reach $1 Billion in Revenue for Seven Straight Months

The wins just keep on coming in for Nevada. A recent report just announced that Nevada casinos were able to total more than $1 billion in gambling revenue during September for the seventh straight month. They were able to reach a total of $1.158 billion and represented a 41 percent increase year-over-year.

Still, these numbers are actually a little bit below what they just recorded during August when they reached up to $1.165 billion in revenue. Then the month before that they cracked a state record by reeling in $1.35 billion.

The Las Vegas Strip has completely come back to life in recent months and is the cause of $640.6 million of that money during September. One of the Nevada Gaming Control Board’s senior research analysts said that it is “old news that the Strip is lagging.”

The only regions in the state that weren’t able to overcome their previous month’s total were North and South Lake Tahoe. However, that is mostly because a lot of their properties had to close for a full week.

Miami Lawmakers Hope To Ban Gambling Expansion In Their City

Florida is right on the verge of a tremendous gambling expansion but it doesn’t seem like every city in the state is particularly happy about the new change. Miami was one of those cities as their commissioners just voted to alter the zoning laws, so that they can ban any future gambling properties. There were only two out of 13 commissioners that chose to vote against this as well.

The measure is very likely to pass now but does need one more final vote to officially make it into law. Miami is already home to two gaming properties, Casino Miami and Magic City Casino, with plans of another coming in the near future. These three properties are apparently all that they are hoping for right now and until they change their mind, this new law will keep it that way.

Australian Casino Picks Up Two-Year Probationary Period After Money Laundering Accusations

One Australian casino has found itself in hot water after a money-laundering investigation uncovered improprieties. Crown Resorts, one of the largest casinos in the Australian area, was just deemed unsuitable to hold a gambling license.

The investigation into Crown Resorts started at the end of 2020 due to some accusations that the property was using some people’s casino accounts to help Chinese high rollers launder money. In Australian casino gambling, Chinese high roller accounts are frequently associated with organized crime. The money laundering eventually was exposed and the CEO officially stepped down from his position.

For now, regulators handed the property a two-year probation period for them to prove that they are still worthy of the license instead of just stripping it away instantly. They will be watching them on a daily basis in order to determine if they have changed their ways.