(ANALYSIS) The Strip has not vanished, and its “Sin City” label remains relevant. The Nevada Gaming Control Board reported $8.82 billion in gross gaming revenue (what operators keep after payouts) for the Strip in 2025. But the world has changed. Researchers struggle to describe online gambling today — from $100 billion global GGR in 2023 to a Gaming Compliance International estimate of $5.9 trillion in unregulated activity.

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