How President Donald Trump’s Second First 100 Days Has Impacted Gaming

Posted on: April 30, 2025, 10:36h. 

Last updated on: April 30, 2025, 10:56h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Today marks the 100th day of President Donald Trump’s second term
  • Trump’s policies, chiefly tariffs, threaten the US gaming industry
  • Democrats and Republicans differ on Trump’s 100 days

Wednesday, April 30, 2025, marks President Donald Trump’s 100th day in office under his second term. It’s been a busy, at times chaotic and controversial, start to the former casino owner’s second administration.

President Donald Trump gaming industry
President Donald Trump has reached 100 days in his second stint in the White House. Republicans and Democrats have different views on how the first 100 days have gone. (Image: Shutterstock)

The first 100 days of a president’s tenure are considered a benchmark to measure the early success of the new commander-in-chief. Determining if Trump’s second first 100 days has been a victory or failure largely lies along party lines.

Trump has, unquestionably, been busy. He’s signed 142 executive orders, 40 proclamations, 42 memorandums, the Laken Riley Act to require the Department of Homeland Security to detain and deport illegal immigrants charged with or committed of violent crimes, and made a serious of public comments ranging from whether Pete Rose should be inducted into the Hall of Fame to teasing a third term in 2028, the latter of which his press secretary said this week was Trump “trolling” his adversaries.

Perhaps the most significant event of the previous 100 days is Trump threatening tariffs on most of the world. Though he’s scaled back the initial levies that he announced on his so-called “Liberation Day,” the possible “reciprocal tariffs,” as the president calls them, stand to threaten the global economy.

Trump’s Gaming Impact

Trump’s second reign has affected gaming, too, with his tariffs standing to be most impactful on the health of US tribal and commercial gaming industries. Concerns from Las Vegas to Atlantic City about consumer behaviors and whether some might pull back their leisure spending in anticipation of higher costs linked to tariffs remain.

Gaming analyst Barry Jonas of Truist Securities reported after attending the East Coast Gaming Congress in Atlantic City that casino execs at this time remain optimistic about their businesses despite the macro concerns.

“Despite market turmoil, company commentary was fairly positive, noting consumer trends are stable and tariff impact largely unknown so far,” Jonas said in a note provided to Casino.org.

However, Jonas added some caution.

The current administration’s rollout of various policies — including tariffs and drastic spending cuts — continue to cause uncertainty in the markets. Panelists agreed the implementation of tariffs is still early and operators have yet to see the full impact. Panelists did seem more concerned on softer international travel trends, which Las Vegas is susceptible to,” Jonas wrote.

Since Trump took office on January 20, shares of MGM Resorts are down 7%, Caesars Entertainment is down 21%, and Wynn Resorts is down 7%. Las Vegas Sands stock, though the company no longer has any US casinos, has lost 18%.

Sands’ controlling owner, Dr. Miriam Adelson, was among Trump’s largest donors in 2016, 2020, and last year.

Prediction Markets 

Another key issue the second Trump presidency will involve is the regulation of prediction markets, online wagering websites, and apps that bill themselves as derivatives markets.

The Commodity Futures Trading Commission (CFTC) regulates such peer-to-peer exchanges. In February, Trump named Brian Quintenz, a former CFTC commissioner and crypto advocate, to become chair of the independent government agency.

Trump prefers less regulation, and his administration is expected to be favorable to digital currency and emerging assets like prediction exchanges. One such leading exchange, Kalshi, named Donald Trump Jr. to an advisory role in January.

Kalshi and its competitors have recently embarked on offering event contracts involving sports, which the legal gaming industry contends violate state sports betting laws. The CFTC is reviewing whether sports-related event contracts constitute a financial instrument or form of gambling.