North Texas Commission Forms Committee to Explore Expansion

However, the North Texas Commission (NTC), an advocacy and lobbying group representing commerce in the North Texas region, is seeking to change that landscape. The NTC has announced the opening of an application window for a new exploratory committee dedicated to assessing the impact of gaming expansion in the Dallas/Fort Worth metroplex and beyond.

This committee will be diverse, comprising religious organizations, elected officials, and economic development experts, as revealed by NTC COO Patrick Brophey to the Dallas Business Journal.

Key Takeaways

• Committee Launch: The NTC is initiating an exploratory committee to evaluate the impact of destination casinos in Texas.
• Historical Resistance: Texas has a history of resisting gaming expansion beyond tribal casinos.
• Legislative Challenges: A 2023 bill proposing eight non-tribal casino licenses failed to pass the legislature.
• Economic Potential: Texas online casinos could potentially generate $500 million to $600 million per month.

Why the NTC’s New Committee Is Important

Texas represents a complex case of competing gaming interests. As a predominantly conservative state with small pockets of progressivism, it has restricted gaming to tribal casinos. While much of the country has embraced commercial gaming and sports betting, Texas has firmly opposed both, as well as online casinos.

Despite this, momentum for gaming expansion has grown in recent years:

• Governor’s Openness: In late 2022, Governor Greg Abbott expressed openness to gaming expansion. His press secretary indicated that the governor is willing to consider gaming if it can be developed as a “very professional entertainment option for Texans,” aiming to avoid increased crime, problem gambling, and widespread gambling access.
• Legislative Efforts: In 2023, a bill proposing eight commercial casinos stirred significant interest but ultimately failed to reach the governor’s desk.
• High-Profile Support: In November, Dallas Mavericks owner Mark Cuban proposed building a destination casino in Dallas.
• Public Opinion: A May survey by the Texas Hispanic Policy Foundation found that 56% of Texans supported the construction of destination resort casinos.

The formation of the NTC’s committee underscores the growing interest in gaming expansion in Texas. With a broad range of perspectives, the committee may influence lawmakers in Austin.

Revenue Potential of Texas Online Casinos

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Predicting the trajectory of gaming expansion in Texas is challenging. However, it is likely that land-based casino expansion will precede the legalization of sports betting and, eventually, online casinos.

The financial impact of such an expansion could be substantial. Currently, seven states have legal real-money online casinos, generating between $600 million and $700 million in a good month. For a state, reaching $200 million in monthly revenue is exceptional, a milestone achieved only by Pennsylvania, Michigan, and New Jersey.

If Texas were to legalize online casinos, it could significantly reshape the U.S. iGaming market. Based on revenue data from other states and population figures from the Census Bureau, PlayUSA predicts that Texas online casinos could generate over $374 million in an average month.

However, this estimate might be conservative. States with larger populations generally generate higher per-capita iGaming revenue. Using data from states with at least nine million people, Texas could potentially generate up to $581 million per month, and in high-revenue months like March, this figure could exceed $631 million.

Conclusion

The establishment of the North Texas Commission's exploratory committee marks a significant step towards gaming expansion in Texas. With growing support from public figures and promising economic projections, the committee’s findings could pave the way for a new era in Texas gaming, potentially transforming the state into a major player in the U.S. iGaming market.