The sportsbook industry has faced difficult, if not insurmountable, challenges in the past.
During the 2008 financial crisis, unemployment in Las Vegas peaked at 14.2%, far surpassing the national average (about 10%). As the subprime mortgage bubble burst, home prices cratered, leading to thousands of foreclosures throughout the Valley. At the same time, hotel vacancies surged as Americans with discretionary income shortfalls canceled trips to the entertainment capital of the world. Yet, somehow the Nevada sportsbook handle remained steady over the Great Recession.