Nevada officials hoping Cosmopolitan helps boost gaming revenue

The Nevada Gaming Control Board took a step last weeek, that could once again provide a boost to the industry. The Cosmopolitan hotel-casino moved closer to gaining a gaming license when they were endorsed by the Gaming Board.

The Nevada Gaming Commission will now have the final say as to whether or not the Cosmopolitan receives the gaming license. The approval of the Control Board is a step that was necessary and should all but assure the Cosmopolitan of the license.

The Cosmopolitan casino is expected to open just before the holidays this December. The resort has almost 3,000 rooms, and a 100,000 square foot casino. The project is being completed in stages, and some of the hotel rooms are not expected to be completed until next year.

Las Vegas has seen their gaming industry fall from being the top gaming destination in the world, that title now belongs to Macau. Without the Asian gamblers traveling to Sin City, the casinos have been struggling to display the type of gaming dominance that was once enjoyed in Nevada.

Competition is also coming from other states. California has stepped up their efforts to become a major casino destination, and many East Coast states have expanded their gaming industries, keeping East Coast residents from traveling west. The result has been a Las Vegas casino industry that has experienced double digit declines in revenue for much of the past two years.