Featured in this article:
- January revenue drops in Macau
- Connecticut plans on major gaming expansion
- Georgia takes initial steps towards legalizing sports betting
The January revenue reports from Macau are out and the numbers aren’t good. We’ll start there as the area known as the “Las Vegas of the East” continues to be hampered by low traffic and low gaming numbers.
Macau Casinos See Yet Another Revenue Drop In January
Things just keep getting worse for Macau casinos. The latest reports on their revenue are out and it has been announced that they dropped over 60 percent in year-over-year revenue for the 12th straight month. This was also the 16th straight month that revenue was down by any number, so the slump continues. Macau has been on the rise very slowly after the COVID-19 pandemic first struck them about a year ago but travel is still minimized in the area. Operators are not currently expecting a huge rise during the month of February but they may see a slight increase in total revenue as the pandemic continues to rage on.
During the month of November, they had reeled in $845 million in gambling revenue, followed up with $979 million in December. Those numbers are still massive drops compared to this time last year, even though there has been small improvement.
Unfortunately, though, there was a reported rise in COVID-19 cases during the month of January. This recent report ended up hurting their tourism numbers and could eventually get their casinos shut down again if the positive tests keep growing.
Connecticut Lawmakers Plan On Major Gaming Expansion
It appears that the state of Connecticut may be undergoing a dramatic change in order to better support their residents. There are multiple legislators that are planning on legalizing multiple different forms of gambling and if it all works out, all of that tax revenue is going to go towards the Pledge to Advance Connecticut program. This particular program helps provide college tuition assistance to students to avoid falling into massive debt.
The two main tribes in Connecticut are planning on getting permission to operate their own sportsbooks shortly. These tribes happen to own two of the most popular casinos in the state, with the Foxwoods and the Mohegan Sun.
Along with sports betting, the tribes should also be able to offer online gaming. Online gaming has surged this past year due to so many people staying inside to protect themselves from the COVID-19 pandemic. These new regulations could help dramatically improve the state of Connecticut in terms of education, infrastructure and social programs – if everything goes according to plan.
Georgia Online Sports Betting Bill Takes First Step To Legalization
Residents of Georgia hoping that a new sports betting bill gets passed soon have seen a glimmer of hope—A new bill has officially passed its first hurdle.
The proposed legislation was approved by a committee in the House and is named the “Georgia Lottery Mobile Sports Wagering Integrity Act.” This bill will now head over to the House Rules Committee, then over to the House floor, followed by the Senate and finally the governor if passed.
Representative Ron Stephens was the man who first introduced this bill at the beginning of 2021, it happened to be the first out of three different gambling expansion that he planned to file. The second would allow for brick-and-mortar casinos in the state of Georgia and the third would legalize horse racing.
Stephens believes that sports betting would be the easiest of the three bills to get legalized. If this bill were to get passed, Georgia would be in the same club as Tennessee as the only two states in the country to operate an online only sports betting market. However, while we’re moving in the right direction, there is still a long way to go to get to full legalization.