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Gambling in Nevada Celebrates 75

On March 19th 1931, the State of Nevada legalized open casino gambling which completely changed the world of entertainment. The first gambling licenses were issued and the first casinos were set up in an area which is now known as downtown Las Vegas. From its very humble beginnings of a handful of small-time house-based casinos, Las Vegas has literally become the gambling capital of the world attracting innumerable tourists every year.

The reasons behind the legalization of casino gambling was two fold: The state was desperate to replace the tax-base which was lost when the silver mining business packed up and went south; and the legislators wanted to reap the benefits from a tourist boom that gambling would bring. How right they were! When one thinks of a gambling holiday venue, the first place that comes to mind is certainly Las Vegas and Nevada.

It is accepted that the entire gambling industry is what shaped Nevada into what it is today. If gambling had not been legalized all those years ago, the entire face of Nevada and the tourist industry would be completely different. Las Vegas has become the key venue for gambling holidays, conventions and trade shows. The development of the hotel casino combination is the forefront of Las Vegas’ hospitality industry and what makes the city tick. As one resident said – “Without gambling, Nevada would be a wonderful truck stop on the way to California”.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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