LAS VEGAS — Nevada for years was the only game in town if you wanted to place a bet on your favorite team. Federal law prohibited sports wagering in most states, leaving sports books in Nevada’s casinos as the only way to bet legally on football, basketball and other sports.

That all changed Monday when the U.S. Supreme Court struck down the 1992 law.

But don’t look for the casinos to turn their ballroom-sized sports betting palaces into Keno lounges. In fact, operators in the nation’s gambling mecca have been expecting this day to come and they say they are ready to double down on sports betting.

“Some people look at this as a threat,” Jay Kornegay, the sports book director at the Westgate casino-resort. “Others look at it as an opportunity. We’ve been preparing for this decision for a very long time.”

Operators on Monday did not express any concerns over their Las Vegas market, and instead, signaled they are ready to embark on efforts to operate sports books in states that end up allowing them — plans that could become a land rush of sorts. Financial analysts also do not foresee the ruling having an adverse impact on the city’s sports betting activity — which accounts for a relatively small portion of the total gambling revenue.

The high court’s decision came in a case from New Jersey, which has fought for years to legalize gambling on sports at casinos and racetracks in the state.

Mark Frissora, the CEO of Caesars Entertainment, said the company expects to provide “safe, exciting sports wagering experiences to consumers across the country” and will announce its approach to this business at a later time. The company operates casinos in 13 states.

Stock prices for casino operators and equipment makers surged after the ruling was announced.