Casino News Roundup: MGM & Caesars Claim Las Vegas Strip Recovery Is Under Way
Welcome to the Casino Daily News Roundup - your briefing on the latest news from the global casino industry. We bring you the biggest stories from across the sector, covering everything from major business deals and revenue figures to new openings and regulatory developments.
Caesars Says Las Vegas Is In A "Much Healthier Spot" As Strip Recovery Takes Hold
The narrative around Las Vegas is shifting.
After a bruising run through the second half of 2025 - marked by falling visitor numbers, sliding Strip revenues, and mounting affordability criticism - Caesars Entertainment CEO Tom Reeg offered a notably more optimistic assessment on Tuesday's Q1 earnings call.
"Vegas is obviously in a much healthier spot than it was in the middle of last year," Reeg said.
"It just feels like a healthier market than it did 10 months ago for us."
The numbers support that view. Caesars reported Q1 2026 net revenues of $2.9billion - up 3% year-on-year - with Las Vegas occupancy hitting 95.3% and year-on-year average daily rate growth of 1%.
COO Anthony Carano described Las Vegas operating trends as "a dramatic improvement versus the second half of 2025," pointing to strong group and convention business and record first-quarter catering revenues.
The company's digital division was the standout performer, posting record first-quarter net revenues of $374million - up from $335m a year ago - and record adjusted EBITDA of $69 million, up from $43m.
The net loss narrowed to $98m from $115m. Reeg did note that April was "softer" than anticipated due to low gaming hold, but said forward bookings feel good and the leisure recovery is continuing.
Upcoming new openings include the Omnia Dayclub at Caesars Palace from May 15, and Category 10 - a country-themed entertainment concept with Luke Combs - at the Flamingo this fall.
Those looking to explore the top 10 online casinos in the Caesars Digital portfolio will find the company's record digital numbers suggest the online offering is keeping pace with the Strip's recovery.
MGM Posts Record Q1 Revenue As Strip Growth Returns
MGM Resorts International reported consolidated net revenues of $4.45bn for Q1 2026 - up 4.2% year-on-year and ahead of analyst forecasts - with Las Vegas Strip net revenues growing year-on-year for the first time in six quarters.
CEO Bill Hornbuckle credited strong convention business, record average daily rate, and record catering revenues, alongside MGM China up 9% and MGM Digital up 43%.
The headline masked a more complicated picture beneath.
Adjusted EBITDA fell to $580.2m from $637m, driven by $46m in higher self-insurance expenses and reduced business interruption insurance proceeds from the 2023 cybersecurity attack.
The company's all-inclusive packages at Luxor and Excalibur represented around one-third of summer bookings - a clear signal the value-focused strategy is gaining traction.
Those who prefer real money slots from home will find MGM's digital expansion moving in lockstep with its Strip recovery.
Ninth Circuit Signals Prediction Markets Are Heading To The Supreme Court
The US Court of Appeals for the Ninth Circuit heard oral arguments on April 16 in cases involving Kalshi, Robinhood, and Crypto.com - and the signals from the bench were deeply uncomfortable for the prediction markets industry.
Trump-appointed Judge Ryan Nelson dismissed arguments that event contracts differ meaningfully from sportsbook wagers as "sophistry to the nth degree."
All three panel judges appeared skeptical throughout the nearly 150-minute hearing.
The court is expected to rule within 60 to 120 days.
Legal observers widely expect it to rule against the platforms, creating a direct circuit split with the Third Circuit's April 6 ruling in Kalshi's favour - a split that would almost certainly propel the cases to the US Supreme Court, potentially producing a definitive ruling on prediction markets' legal status in 2027 or 2028.
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NFL Demands Prediction Markets Remove "Objectionable" Sports Contracts
The prediction markets industry is now facing pressure from the sports leagues whose events underpin its business model.
The NFL has formally written to prediction market operators demanding the removal of contracts it considers objectionable - including player performance props, injury-related markets, and contracts that could create incentives for game manipulation.
The NBA and MLB have made similar requests.
The leagues argue that prediction market platforms operate entirely outside the sports integrity framework carefully built with licensed sportsbooks over the past decade.
Legal analysts note that financial incentives on individual player performance contracts can be large enough to justify manipulation attempts - and that a single player's performance is considerably easier to manipulate than a team result.
Whether prediction market operators comply or resist will be closely watched.
