What’s the Future Of Las Vegas Casinos and the Vegas Strip?
Nov. 18 2023, Published 2:46 p.m. ET
The Las Vegas strip has become such an iconic global tourist destination and something so many people associate with the United States, featured in films and television all over the world, and even a popular destination for people to elope for their weddings, largely due to the thriving casino scene.
So are casinos going to go the way of some physical stores, as more people move online to do their shopping, or in this case, gambling?
Are Online Casinos and Crypto Casinos Taking Over?
There was a time when people would go to Las Vegas as it was one of the only options for gambling and had the most liberal regulations in the whole of the USA, which meant that many people would head to the state of Nevada, and Vegas in particular, to play casino games.
The world has moved into a digital age since then and the sorts of options available on peoples’ devices are incredible, not only in the world of gambling but in everyday life. Why get in the car, drive to the mall, and find a parking spot to buy something when your phone has more choices and possibly a better price, plus you might be able to get incredibly fast delivery the next day.
People face a similar decision in the casino industry, as people can choose to log in on their devices and explore casino games and other forms of gambling in their pocket, rather than having to travel anywhere to play.
The unbelievable choice of games is one of the other big things casino players are noticing as so many people are moving online. Many of these games offer the same gameplay as in-person casinos. Those who prefer to play the classic casino game roulette now enjoy the convenience of using their mobile devices to do so rather than going to a physical casino, and many casinos offer realistic roulette games on their site. An online roulette casino can provide the same experience, with the physical wheel replaced by a roulette wheel on the screen, plus the player can play the game wherever and whenever they want, such as in a waiting room or on public transport.
The casino and online gambling sector worldwide is around 262bn USD depending on which study you look at, but some estimates say around 65% of the value now comes from online including crypto gambling sites.
What is Happening to Las Vegas Resorts?
Lots of people associate the Las Vegas Strip with performers, events, and of course, casino games. A lot of people return to Vegas year after year, and nearly 40 million people spent a vacation there in 2022 alone, so there are millions who don’t want the heart and soul of Vegas to diminish. Luckily, casinos are still going strong in person as well as online.
There are all sorts of new developments besides casinos, such as the new Oakland A’s stadium coming to Vegas, along with an argument that this could be better for the foot traffic in Las Vegas, bringing even more people into the central areas to watch baseball as well as explore the local area.
Do In-Person Casinos Have a Future?
Though in-person casinos and online casinos will always be linked by the games they offer, the two are quite different experiences in some ways, and Las Vegas has a lot of draws that will still bring people to the area.
There are residencies in a lot of the venues meaning millions of music fans come to see performers such as Cher, who has already had a three-year residency in Vegas and will head back in 2024.
Casinos aren’t the only reason people go to Las Vegas, and tourists like to tie some casino gambling in with other things like seeing a show or exploring some of the nearby attractions. One analogy for the online or in-person debate is the decision process of whether you opt to go to the cinema to watch a movie with popcorn in your hand and a huge sound system, or whether you watch the latest Tom Cruise blockbuster on your living room TV.
Some people will check the latest films on Disney Plus or Hulu and watch at home as it is so convenient, but it will never replace the full cinema experience, meeting up with friends, and getting your popcorn and drink to take in. Vegas casinos have an atmosphere and history that means people will always be interested, and in-person games can be very different from online games.
While a lot of people think that online casinos are a replacement for those in Las Vegas and other locations around the United States, we’re not seeing too much evidence of casinos in Vegas slowing down. It is likely there’ll always be a demand for people to visit and take in the sights and sounds of the Las Vegas Strip.