Las Vegas: The New Sports & Entertainment Capital of the World

Forget “Sin City.” After several years of unprecedented evolution, Las Vegas has earned a new moniker: The Sports and Entertainment Capital of the World.

?As I write this, the city is still buzzing with March Madness after hosting the NCAA tournament’s Sweet 16 and Elite Eight games last weekend for the very first time. Many who flocked from around the country to attend those games at T-Mobile Arena are here eagerly awaiting – and betting on – Monday night’s championship matchup.

?Later this year, we’ll host Formula One’s Las Vegas Grand Prix, which will attract global visitors for the first-ever night race down the famed Las Vegas Strip. And, in February 2024, Las Vegas will host the pinnacle of sports and entertainment with Super Bowl LVIII at Allegiant Stadium.

?Visitors to Las Vegas now find much more than glittering lights, exciting casinos and world-class restaurants and shows. They’re experiencing the highest-profile sporting events in the world.

?It’s a rapid and shocking turn of events unimaginable to many just a few years ago. So, what sparked the transformation?

?In short: Tons of hard work by a lot of people and an important, and overdue, decision from the U.S. Supreme Court.

?While Las Vegas had long been the storied home of professional boxing and MMA bouts, organizations like the NBA, NFL and NCAA traditionally kept their distance. As the largest operator on the Las Vegas Strip, MGM Resorts saw a different future for the city and took a leading role in changing that.

?In 2016, we opened T-Mobile Arena, a state-of-the-art venue designed with professional sports in mind. A year later it became the home of Las Vegas’ first professional sports team, the Vegas Golden Knights. As the Knights reached the NHL Stanley Cup finals during their inaugural season, the world saw first-hand how incredible Las Vegas was as a sports destination.

?Around this time, the Nevada Legislature approved plans for an NFL-ready venue that would become Allegiant Stadium, the NFL approved the Raiders’ relocation from Oakland to Las Vegas and MGM Resorts brought professional basketball to the city with the WNBA’s Las Vegas Aces. Things were quickly taking shape.

?Then came the U.S. Supreme Court. No single event has had more impact on the growing acceptance of gaming and ushering in the new era of sports than the court’s 2018 ruling overturning the ban on national sports betting.

?Shortly thereafter, sports betting expanded nationwide and began entering the mainstream. Partnerships between leagues like the NBA, NHL and NFL and gaming companies proliferated. Previously closed doors between the gaming industry and the wider world of professional sports began to open.

?Today, sports wagering is legal in 36 states, the District of Columbia, and Puerto Rico – a sign not just of sports betting’s soaring popularity, but also the recognition by policymakers that making sports betting transparent and legal was the right decision.

?Las Vegas’ stature grew tremendously during this period as well. In 2020, the 65,000-seat Allegiant Stadium opened as the home of the newly minted Las Vegas Raiders. This was followed by big moves in 2022 – including the Aces winning the WNBA championship and Las Vegas hosting the NHL All-Star Game, the NFL Draft and Pro Bowl.

?For some, this rapid transformation raises concerns about responsible gaming and the integrity of sports. We understand these concerns and have committed to proving that legal, regulated wagering is not only safer for players, but better for communities, leagues and sports overall than vast black-market undergrounds.

?In 2019, the American Gaming Association launched the Have A Game Plan. Bet Responsibly. campaign, partnering gaming companies, leagues and fans in a shared effort to promote responsible wagering and protect the integrity of sports. ?In September 2022, MGM Resorts joined other operators and competitors in creating a pledge of principles to serve as the industry’s benchmark for responsible gaming standards.

?At MGM Resorts, we also integrate the British Columbia Lottery Corporation’s innovative responsible gaming program, GameSense, into everything we do – from the casino floor and sports books to BetMGM mobile betting and more.

?These efforts paid off.?Since sports betting was legalized, the illegal sports betting market has been more than cut in half – from $150 billion to around $64 billion. This isn’t surprising because nearly nine out of 10 bettors prefer to place their bets with trusted, legal, regulated operators.

?Las Vegas, of course, is home to many of those operators, and we couldn’t be more excited to welcome the influx of fans. As we celebrate March Madness and prepare for a future hosting the world’s most exciting sports events, it’s fascinating to think how just a few years ago this was unimaginable.

?Thanks to the hard work of so many, Las Vegas is now truly the Sports and Entertainment Capital of the World, and its future is incredibly bright.