After the monumental decision to legalize sports betting this week, Las Vegas and Atlantic City captured the spotlight. While most pundits shared opinions on ways to enjoy this practice legally in their own states, these two cities have the major ramifications. We will share two of them.
Las Vegas will capture the attention of organizations that are adding sports betting to their gaming venues. This will include casinos and racetracks. They will emulate Vegas and attempt to do it on the same level but with a higher tax structure. Imitation is good but the results will not suffice. Look at the profit margin for most sports books. Casinos and Racetracks should lobby their state legislatures to come up with a tax rate that will allow them to make a profit and grow the market simultaneously.
Atlantic City will change the tourism paradigm of the Northeast and Mid Atlantic regions. During March Madness and the Super Bowl weekends, thousands of gamblers fly to Nevada to bet on the aforementioned events. They don't have to anymore. This effects air travel and hotel occupancy. Nevada goes down slightly while New Jersey goes up, The airport in Atlantic City gets a facelift. More flights into Philly and New York from the South and Mid West because of the reduction in travel time. Gamblers despise traveling across country when they have other options available. Gas
prices will inch up in the months of January thru March. Expect an increase in tolls that lead to AC in the next 12-18 months.
We will share more in the weeks leading to the #ECGC22. Look forward to seeing you then.
Here is the link to the top gaming conference this year. East Coast Gaming Congress
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