Casino News Roundup: Market Shifts Across Las Vegas And Betting

MGM Grand Buffet Closure Marks A Turning Point

MGM Grand will close its buffet on May 31, ending a long tradition. The buffet has operated since 1993 inside the resort. Only about seven buffets now remain on the Las Vegas Strip. Once, there were more than thirty across major casinos.

Costs have risen, while visitor habits have changed after the pandemic. Many players now prefer restaurants or fast dining options. Buffet prices near forty dollars also reduced interest from tourists. MGM has not shared plans for the empty space yet — leaving some uncertainty.

The buffet once stood as a simple value option for guests. Now, casino operators focus more on high-margin dining. 

FanDuel Moves Into Prediction Markets

FanDuel has launched its prediction service in sixteen US states. The move comes through a joint effort with CME Group. It allows users to trade outcomes in sports and financial events. The company says this may expand reach in restricted states — where normal betting rules are tighter.

The service covers sports, finance, and entertainment outcomes. It gives users more ways to engage beyond standard betting. DraftKings is also entering similar markets, increasing direct competition. 

FanDuel’s structure with CME Group remains partly controlled by partners. However, the company is seeking more independence over time. 

Industry Reaction And Rising Competition

Prediction markets are attracting strong attention from betting companies. Competition is growing between FanDuel, DraftKings, and other operators. New firms like Kalshi are also expanding quickly. Key drivers behind this shift include:

• More states reviewing gambling rules

• Rising demand for flexible betting options

• Strong investor interest in new market models

Outlook For Casino And Betting Markets

The casino industry is moving through a period of fast change. Traditional dining and betting models are both under pressure. Companies are testing new services to keep users engaged. More partnerships and product launches may follow soon.

Las Vegas buffets continue to decline as costs rise. Meanwhile, prediction markets may become a major growth area. The next year could decide how far this shift goes.