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September 2011, Las Vegas Revenues Decline
Thursday, November 10, 2011 : SEPTEMBER NOT A GOOD MONTH FOR LAS VEGAS
Visitors are up, but gambling revenues again decline
The latest numbers from the Nevada Gaming Control Board were released late Wednesday, showing that land casinos statewide won $864 million from gamblers, $53.8 million less than they won in September 2010. And casinos last month paid $51.4 million in taxes, down 8.9 percent, based on winnings collected the previous month.
Part of the problem is that the high rollers gambled far less money in September on baccarat, contributing to a statewide 5.9 slip in casino win compared to September last year.
Baccarat players wagered $647.4 million in September, down a substantial $344 million or 34.7 percent on the same period last year. Of that, casinos won $81.9 million, a decline of $46.4 million or 36.2 percent, a gaming board analyst revealed, adding that if one excluded baccarat results, the statewide decline was around a mere 1 percent, perhaps heralding an uptick in business following the exceptionally tough economic recession that has been hammering revenues.
The latest report indicates that gamblers wagered $11.5 billion on slot machines and table games, with the $9 billion pumped into slot machines up $172.7 million, or 2 percent, from September 2010. Bets on table games, including baccarat, was $2.5 billion, down $115 million or 4.4 percent.
Gambling revenue on the Las Vegas Strip fell 5.7 percent to $490.9 million. Strip resorts traditionally generate about half of total statewide casino revenues.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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