The Gambling Business is Coming out of the Shadows: Both Monaco and Las Vegas Have Succeeded

The first to mention the casinos are always called Monte Carlo and Las Vegas. These two cities are symbols of the gambling industry and an example of successful implementation of the project of legalization by the state of gambling.

Las Vegas is now the world capital of gambling and a model for the whole world, Monte Carlo has gone its own way, but the very opening of the casino saved this micro-state from bankruptcy.

Casino Royale

In the middle of the 19th century, the principality of Monaco was not experiencing the best of times – the treasury was empty, taxes were not received, a few vassals did not see the point of being at the hands of the house of Grimaldi. Monaco was under the protectorate of the Kingdom of Sardinia, not France. It was the French cities of Nice and Cannes that were considered the pearls of the Cote d’Azur and attracted the attention of the then tourists – representatives of the upper world.

The situation was remedied by the active Princess Caroline, the wife of Prince Florestan I and the mother of his successor, Charles III. It was on her initiative that a casino and a resort for the elite began to be built in Monaco. There was no money for this in the treasury and the princess decided to attract concessions. The first casino started operating in 1856 – 2 years after the start of the initiative.

Success did not come immediately – we had to change several managers to understand that we need to attract the best, but the result exceeded expectations – we just had to wait for it. The gambling business has become the national heritage of Monaco and a symbol of this tiny state.

Today, Monte Carlo is a recognized center of elite recreation. Only 4 large casinos provide the rich’s thirst for the game. Only foreigners can play slot games in them, citizens of the Principality of Monaco are forbidden to do so. Also, people in military uniforms, worshipers and people intoxicated will not be allowed on the threshold of the gambling establishment.

At the same time, apart from 4 legendary establishments, the principality can no longer offer anything to players – the country does not pay much attention to fashion and currently Monaco does not regulate online gambling, namely it is the king of the modern gaming industry.

Viva Las Vegas

The railroad station, which opened in 1905 on the site of an oasis in the Nevada desert, became the prototype of the future of Las Vegas.

From the beginning, the town had casinos and saloons, where they played for money, but in 1919 the gambling business was outlawed in Nevada. This state has long been the last bastion in the United States, where gambling was legal. Due to the ban, the city was facing an economic crisis, and in the United States gambling has become a “patrimony” of the mafia.

The Americans did not become less adventurous and turned the island of Cuba into the Caribbean Monaco. In a few years, the Americans still came to their senses. In 1931, gambling was allowed in Nevada, and in another 5 years, the Hoover Dam was completed. She solved the city’s water problems.

These two factors attracted the attention of a young town of investors who decided to turn Las Vegas into a casino city. And although the origin of the capital raised many questions – the project received the support of local authorities and in the 40’s went uphill, in the next decade, Vegas was visited annually by more than 8 million tourists. Las Vegas has won a tough fight with its main rival – the city of Reno and today it is considered the capital of excitement. Las Vegas has become a legend and a cultural phenomenon, as well as a source of billions in budgets for the state of Nevada and the United States.

Today, Las Vegas is visited by an average of more than 40 million tourists each year, with an average of $ 427 spent by visitors each during their stay in Las Vegas. izit. The coronavirus pandemic has significantly affected the industry – casino profits have fallen by more than a third, but it is still insane amounts. So, in 2020, the profit from sports betting in Nevada was almost 8 billion dollars, and slot machines brought almost 5.5 billion.

Unlike Monte Carlo, Las Vegas has abandoned segregation and made the casino open to all and happy with every dollar that lingers in Nevada.

COVID-19 has forced the gambling business to adapt and respond to challenges. The result was the emergence of contactless casinos. The first opened in the fall of 2020. The hotel with 777 rooms has abandoned the classic reception and offers checks with smartphones, you can order everything you need with tablets. Now players can test their luck in Aus casino no deposit bonus online.

Time will tell how long this idea will take root, become widespread or remain a niche option. But this story is a great example of how a business adapts to change and evolves.