Gamblers are completely spoilt for choice these days.
Thanks to thousands of online casinos, fabulous Vegas has never been closer, bringing thrills of the most luxurious brick-and-mortar venues right to our homes. Almost every day we hear that land-based casinos are likely to be crowded out by their digital counterparts very soon, but is that true?
The great news for all patrons…
…who’re not ready to say goodbye to the unique atmosphere of land-based casinos is: they are here to stay! Despite numerous advantages of online entertainment, it cannot replace the thrill and sensation of sitting at the bean-shaped table dressed up in your fanciest outfit and sipping an exotic (and free!) cocktail while your best friends are here to share in all the excitement of winning.
Much More Than Just Gambling
Truth be told, in order to be competitive with the rapidly-growing online sector, land-based casino industry operators have done a great deal of work adapting to new conditions. In line with the famous saying, realizing that there’s no way to beat their digital rivals, offline casinos smartly decided to join them or, to be more precise, learn from them.
Aiming to attract a wider audience and millennials, in particular, many places have drastically changed their looks and upgraded gaming floors to diversify the offering. What’s more, several years ago, a couple of establishments along Fremont St. came into the limelight as they started to accept Bitcoin as payment for various hotel services including restaurants.
Even though they apparently used a payment processor to instantly convert the crypto-money into dollars, many saw it as the first sign of the forthcoming integration of digital assets with the casino floors. If anything, there’s a number playing houses along the Strip that can brag of Bitcoin ATMs in their luxurious lobbies.
More akin fashionable resorts…
…today they provide patrons with plenty of extra opportunities like exclusive shopping or fine dining, at the same time hosting hot-ticket shows, concerts, and other big events. Well, just like all the nice things out there, having fun in such a lofty manner is far from being inexpensive, in fact, it does cost much more than spinning the reels or playing blackjack at online casinos.
Still, on the flip side, people are paying for a heck of a lot more than just gambling as some precious moments spent together with the loved ones or best buddies stick in the mind forever.
Fabulous Vegas
Although we live in the era of globalization, when it comes to the gambling industry, the situation varies greatly from one country to another. A lot depends on the local regulations and even neighbors often have diametrically opposed views on this topic.
As for the US, it’s safe to say, Native American casinos still rule over its huge territory as their number exceeds that of commercial venues. In recent years, tribes that own and operate them have started expanding their business outside of reservation lands, covering over 29 states while commercial casinos are present in 25 states. As a result, many punters (from Southern California especially) who earlier used to drive to Las Vegas, today prefer to take advantage of the closer NA alternatives, all the more so, they have improved the offering.
However, second to none…
…with more than 200 glamorous venues, Nevada continues to generate record gaming revenues with the Las Vegas Strip being officially America’s largest commercial casino market that is followed by Atlantic City (New Jersey). Meanwhile, other gambling spots including Baltimore/Washington, D.C., New York City, Detroit, to name just a few, continue to deliver solid performances.
Casinos in Canada are popular than ever, and it’s common knowledge that the Great White North can brag of some amazing establishments able to rival the most prestigious Vegas resorts. This also holds true for Australia, home to numerous high-class playing houses and resorts, from gorgeous The Star Casino in Sydney to one-of-its-kind SkyCity Darwin. In its turn, exotic Macau keeps its leading positions attracting more and more high-rollers from China and other Asian countries.
Continent Of Contrasts
Speaking of Europe, things are not the same even within the European Union. The UK, for instance, remains one of the largest and most prosperous markets, still, the gross annual revenues generated by the land-based sector are on decrease amid the growth of the online segment. Gambling in the UK is fully regulated by the well-established Gambling Commission with the majority of casinos being operated by two Malaysian-owned companies, Genting UK and Rank Group.
On the other hand, Monaco…
…a symbol of the high-off-the-hog life and home to four luxurious casinos (all operated by the same company, the Société des Bains de Mer) reported an 11% growth in revenues that totaled €526m in 2019.
Swiss casinos are also doing pretty well, which comes as no surprise given they have exclusive rights to offer slot machines. Interestingly, in accordance with the country’s latest legislation, only land-based providers could hold licenses for internet operations, and renowned Grand Casino Baden was the first to go online. Similar laws are applied in Belgium, where only businesses with land-based gaming operations have the right to extend their offerings online.
In contrast to many other EU members…
…only half of the land-based casinos in Germany are run by private enterprises while the other half is state-owned. Even though it carries some of the highest gaming tax burdens in the old continent, it is still the fourth-highest earner in terms of revenue compared to other European countries.
While online gambling is currently prohibited, state prime ministers have already approved a new interstate treaty intended to license gaming websites starting from Summer 2021. Under the aforementioned treaty, licenses for internet table games such as blackjack, for example, are going to be limited to exactly the number of land-based licenses available in each state whilst authorisations for virtual slots will be available in an unlimited number on a nationwide basis.
Is the Land-Based Casino Industry Endangered By Online Casinos?
To sum up, it would be naive to assume that internet sites can wipe out the land-based casino industry. Even though online casinos have a plethora of advantages, nothing can compare to the authentic brick-and-mortar atmosphere, all web-based platforms try to emulate.
At the end of the day, the best thing about gambling is that every player can make the most of both online and offline gaming experiences, that’s why there’s no doubt land-based casinos will flourish!
