Will the gambling industry survive?
Probably the first thing that comes to mind when one thinks of gambling are the showy, bright and high buildings that dot the horizon in Las Vegas. The multibillion-dollar industry is well-known and controversial: making some rich, it makes others empty their wallets and leaves them with literally nothing.
The top bet has been placed
The twenty-first century is certainly the time of unprecedented technological innovations which have changed consumer demands. Since in recent years the gambling industry growth (including Australia land casinos revenue) has slowed, experts are looking for all sorts of ways to accelerate the process. However, the main problem remains the question of whether these changes will be enough to return the industry to its previous performance and whether it is not too late for actions.
Are the best gambling industry days over, or, on the contrary, it will reach even greater heights? To understand whether the bet placed by will pay off, set by industry leaders, let’s see what steps have been taken.
The new value of Macao
Over the last few years, the world centre of gambling industry has moved from Las Vegas to the far east – a special administrative region of China – Macau. In 2002, the Macau government ended the monopoly of gambling tycoon Stanley Ho, thus triggering competition between the major players in Las Vegas, such as Wynn Resorts, Las Vegas Sands LVS, MGM Resorts MGM and others.
Since that time, the profits that these companies receive from their casinos in Macau, has become much more than profit gambling in Las Vegas. However, recent changes in the region caused a decline in the gambling industry.
To be continued…