Gambling Insider Magazine

The legend of Las Vegas and the reality of the city are, at the moment, two very different things. Around the world, when one thinks of gambling, Las Vegas is still top of mind. In movies, in shows, at the very G2E event this magazine is travelling to... But, as we explore in this issue of Gambling Insider, Vegas' recent history has taken a contrasting path to its mythical reputation. To be clear, Las Vegas is still the American home of gambling. braly, the fact Macau has surpassed it for gambling revenue is simply the result of Vegas serving as its inspiration. Billions of dollars in revenue still find their way into the Nevada Gaming Control Board's monthly reports – putting it all rather into perspective. There has, however, of late been vehement discussion of struggles in Las Vegas. Prices have been rising for some time and, now, revenue – and tourism numbers – are falling. Some local media outlets paint a very bleak picture, while other Vegas executives dismiss any worries out of hand. One thing is for sure: Las Vegas has always been able to reinvent itself whatever foe it has faced. But where exactly does the truth lie? In this magazine, we analyse the data, while Las Vegas historian and expert Oliver Lovat provides his thesis in our cover feature. For years, he has written within the pages of both Gambling Insider and Gaming America, analysing Vegas' main trends and, occasionally, serving important warnings. There is no better authority on the subject. He feels Las Vegas may have broken The Promise – an intangible contract with customers that provides them with the escapism they need to truly enjoy their stay. The question now: how does Las Vegas regain customer trust, and how important will this be in restoring former glories? Elsewhere in this edition, lawyer Edward Carstairs writes for the first time in Gambling Insider, about the value of brand – and IP protection. Carstairs impressed me at iGB Live with his presentation on the topic, and we have reviews of several other panels at London's summer show. We also have an interview with a casino manager in Ireland, a market full of recent regulatory change. Internationally, we look even further out – at India and Brazil, countries that – alongside the Philippines – are sending a message to the gambling industry. Indeed, as nations stand up to illegal gambling forces, increasingly restrictive measures are having knock-on effects for regulated operators. But, in prioritising the battle against illegal gambling, legislators and regulators are not consulting the licensed market, whose complaints are falling on deaf ears. If the industry as a collective wants policymakers to look at it favourably, actions in the Philippines and some in Brazil have already done irreparable damage. India's decision to ban all real-money gambling was sudden and left Flutter Entertainment CEO Peter Jackson "extremely disappointed." And yet this is the direction in which some major nations seem to be heading. Finally, I'd like to highlight our 'Explainer' feature, which on this occasion talks through the Penn Entertainment vs HG Vora saga (a tale we have nicknamed 'The Penndashians'). With all the genuinely entertaining stories gambling has to tell, I don't think it'll be our last such feature! TP, Editor