That's Entertainment
Casinos are the latest form of "entertainment" to see prices skyrocket, as huge swaths of the population are being priced-out of a Vegas vacation.
The Bulletin Board
THE LEDE: Gambling as entertainment has become increasingly expensive.
ROUNDUP: Meta advertisement changes; MA tribal casino keeps expanding; Cracking down on fake casinos; TX Lottery oversight changing hands.
VIEWS: One specific metric correlates with online casino success.
AROUND the WATERCOOLER: Margets out; The Grinder Dominating WSOP.
STRAY THOUGHTS: It makes sense, actually.
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The Lede: Entertainment Comes at a Steep Price
Since gambling reinvented itself as entertainment, it has become far more accessible and acceptable. It has also become more expensive.
“In 2004, I was in Las Vegas with a group of friends during the Super Bowl. We had nowhere to watch the game, so we went to an off-strip property, played some low-limit blackjack, and inquired about their Super Bowl party. They let us in.
“[…]
“Visit Las Vegas during Super Bowl week now, and you won’t find a cheap hotel room until you hit the city limits in Reno. There aren’t any reasonable dining options anymore or an available table for a private Super Bowl party.
“The room will have surge pricing, you’ll pay resort and parking fees, and every meal (a high-end celebrity chef restaurant or overpriced fast food) will be over-priced. Inquire about a perk, and they’ll run your player card number to see if you qualify… and you probably don’t. There are no such things as loss-leaders anymore.”
The latest example of gambling going from a pastime to a luxury item can be found in comments from Anthony Curtis, publisher of the Las Vegas Advisor website and newsletter, who recently told The Times:
“On the Strip, people get taken for a ride. Once they get here they're like, ‘I'm tired of being treated like this. I'm tired of having to pay these ridiculous prices.’”
“There are fees all over the place — fees to park, resort fees on top of room rates. And people are getting fed up with it. We hear that a lot from our customers.”
This aligns with something Spectrum Gaming recently reported in the post-COVID casino world:
“… marketing departments curtailed offers to low-end players. As expected, these players reduced visits, freeing scarce capacity for higher-spending players. This was an “aha!” moment for casino operators – and the practice continues today.”
Las Vegas has slowly begun to price many people out of the market.
In the 1980s, Las Vegas casinos offered low-cost incentives to attract gamblers. Buffets were cheap (Binion’s steak and egg breakfast special cost $1.99), and lures like $.99 shrimp cocktails were commonplace. Even in the 2000s, you could find prime rib dinners for under $10, and finding minimum table bets in the $1–$5 range didn’t take much effort; $25 tables were considered high-roller territory.
And it’s not a matter of costs keeping up with wages. In 1985, average hourly earnings were around $10/hour. Today it’s around $36, according to the Bureau of Labor Statistics. So a $7.99 buffet in 1985 was less than an hour’s worth of work. Today’s Vegas buffets are rarely under $50, or about 1.5 hours of work at average earnings.
The simple fact is, many people are being priced out of casino visits, just like they’re being priced out of concerts (where average ticket prices have increased from $20 to $40 in the 1990s and 2000s to $150+ today), sports events, and even amusement parks.
I did a little digging, and in 1985, NBA tickets for marquee teams like the Los Angeles Lakers or Boston Celtics ranged from $10 to $30 for standard seats. Smaller market teams’ tickets could be had for as little as $5 to $15. In 2005, the average NBA ticket price for the 2005–06 season was approximately $50. In 2025, the price is around $120, which means that from 1985 to 2025, NBA tickets outpaced inflation by 3–4 times.
The NFL has also seen a significant price increase:
1985: $20-$30
2005: $65
2025: $150
That’s 2-3x the rate of inflation.
And then there are amusement parks. It used to cost $5 to get into Six Flags (and about $40-$50 in 2005); now it can exceed $100 per person. Concert costs have skyrocketed, driven by resale markets and premium experiences, making them unaffordable for many.
Across all categories, costs have risen faster than wages. From 1974 to 2023, entertainment costs increased (concert tickets, amusement parks, and sports events) 1,100–2,000% for standard ticket pricing and up to 7,000% for premium experiences, while average hourly earnings rose 700%, leaving most workers unable to keep up with “funflation.”
A report titled “Average number of sources of entertainment used by consumers U.S. 2024, by category,” reflected the rising costs, as it concluded that 26% of Americans avoid live entertainment entirely compared to 16% in the past.
Roundup: Meta Advertisement Changes; MA Tribal Casino Expands; Fake Casinos; TX Lottery Changes
Meta cracks down on gambling advertisements [Covers]: Meta has introduced stricter regulations for gambling ads on Facebook and Instagram to enhance accountability and protect users. The changes went into effect on July 9, 2025. Advertisers must now obtain prior approval through Meta’s Permissions and Verifications portal, submit valid gambling licenses, business details, and proof of compliance with local laws. The changes only apply to real-money gaming; free-play social casinos are exempt from these changes. Notably, influencers promoting gambling must register as affiliates and obtain approval.
Massachusetts tribal casino continues to slowly expand [Taunton Gazette]: The welcome center that is acting as a placeholder for the long-awaited First Light Casino in Taunton, MA, has been slowly adding slot machines (beginning with 10 and now at 50, with a proposal to increase to 250 in the works) and increasing its hours of operation (10 AM to 10 PM Sunday through Thursday, and 10 AM to midnight on Fridays and Saturdays). According to local reports, the Mashpee Wampanoag Tribe has applied for a liquor license and is considering hosting outdoor events.
AGs want casinos to help stop fake online gambling ads [InGame]: In a similar vein, at the NCGLS conference in Louisville, attorneys general urged casinos to combat the phony gambling ads that are flooding social media. The ads for these online casinos, often masquerading as legitimate operators, redirect users to unregulated offshore sites or steal their personal information. Brian Kane, of the National Association of Attorneys General, emphasized the role of casinos in protecting their brands, comparing fraudulent ads to counterfeiting, while Illinois AG Kwame Raoul highlighted consumer protection laws to tackle such fraud.
Texas lottery set to transition to new regulatory body [Lottery Geeks]: The Texas Commission of Licensing and Regulation is prepping for its official takeover of the state lottery. The Texas Department of Licensing and Regulation (TDLR) is assuming responsibility for the state lottery following the disbanding of the Texas Lottery Commission. As it prepares for the September 1 takeover date, it is seeking to increase its staff and budget significantly to handle the responsibilities. Lottery Transition Director Glenn Neal projected a 50% increase in staff and a budget that would need to grow 6x to take on the new challenge.
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News: An iCasino Story in Five Charts
Eilers & Krejcik Gaming (a newsletter sponsor) recently highlighted the tremendous disparity between online casino states. Three states (New Jersey, Pennsylvania, and Michigan) account for the lion’s share of total revenue, and it is notable that all three states have a market share percentage that outperforms their population percentage. In contrast, the four other online casino states are reversed.
Even when you account for the population differences (the chart below is from EKG’s latest Online Casino Monitor and shows iCasino GGR per adult), the difference in revenue between New Jersey, Pennsylvania, and Michigan, and the other four iCasino states is striking:
So what is causing the discrepancy?
There’s little correlation with online slot tax rates:
There’s also little correlation with disposable income:
But there’s a near-perfect correlation with the openness of the market:
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Around the Watercooler
Social media conversations, rumors, and gossip.
The dream is over. Leo Margets was eliminated in 7th place at the 2025 World Series of Poker Main Event final table, after putting her tournament life on the line in the classic preflop showdown against Kenny Halleart (Ace-Ten suited vs pocket 6s) — Margets took a lead on the turn, but Halleart made a flush on the river to send Margets home in 7th place.
In more positive news, Mike “The Grinder” Mizrachi is dominating the final table. With four players left, The Grinder has a commanding lead, with 455 million chips — 75% of the chips in play. John Wasnock is in second place with 94 million, Braxton Dunaway has 25 million, and Kenny Halleart is holding on with 19 million chips.
While not as historic as a woman winning, The Grinder winning would be an excellent outcome for the game.
Stray Thoughts
There’s been a tidal wave of social media posts in my feeds saying something along the lines of “I don’t understand how x can happen,” or “how x can support this.”
Whether it’s the tax policy in the One Big Beautiful Bill, tax rate increases that states keep passing, bans on proxy betting, or opposition to online gambling, there are plenty of reasons to support these things besides ignorance or financial gain.
Here's the trick to understanding other people’s perspectives. Assume every opinion you have is wrong. And come to terms with the fact that 50% of them probably are — although I could be wrong about that.
People are allowed to hold poorly formed opinions (usually referred to as conspiracies), but as I’ve pointed out in the past, good luck changing their minds. Furthermore, some conspiracies are indeed true. Take a look at all the things you’ve vehemently believed to be true throughout your life, and you’ll find that we are all wrong more often than we think.