House of CardsĀ®


Las Vegas Casinos Hope Sports Betting Will Change Their Luck by David G. Schwartz

With rising displeasure at added fees and charges, as well as more competition from casinos around the world, Las Vegas-based gaming operators need a new way to stay profitable. Some believe that sports betting is the solution, and a new emphasis on wagering has already changed the way these companies approach their business.

Las Vegas casinos made peace long ago with the expansion of gambling. More than that—they are frequently the ones advocating for it, and they often maneuver for years to take full advantage of new opportunities. This is nothing new. Since the 1990s, casino companies have championed the expansion of gambling opportunities both across the United States and internationally. Sometimes it works out—Las Vegas companies have reaped handsome rewards for investing in the Chinese enclave of Macau despite some rough patches—and sometimes it doesn’t, as when Las Vegas Sands owner Sheldon Adelson nixed the planned $30 billion Eurovegas resort near Madrid after pushback from the Spanish government.


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