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August 2015 Revenues Down In Nevada and Las Vegas
Thursday October 01,2015 : AUGUST GAMBLING REVENUES DOWN SLIGHTLY IN NEVADA
Fall-off in baccarat pulls results down.
Releasing statistics for August 2015 on Wednesday, the Nevada Gaming Control Board said that the state’s casinos kept $908 million of the money gamblers wagered, down 1.4 percent from the comparative period last year.
The returns were pulled down by an ongoing slide in baccarat play linked to a wavering economy and corruption clampdown in China, the regulator revealed.
Las Vegas Strip casino revenue fell nearly 5 percent to $527 million, while downtown Las Vegas brought in $40 million for a 15 percent gain. Reno casino revenue fell 4 percent to $51 million, and South Lake Tahoe revenue tumbled 34 percent to $19 million.
The state collected almost $52 million in tax money based off the winnings, a 2 percent increase from the same time last year.
Revenue from the “tables and games” sector, which includes bingo, keno and sports betting, totaled $332.6 million and was down 16.4 percent year-over-year. Baccarat led the sinking numbers, falling 25.1 percent to $127 million in a continuing slide that started a year ago.
Without the attrition from baccarat, the table and games results would have been more positive, analysts pointed out. Revenue from table games and other live betting, minus baccarat, was up 4 percent in August compared with last year.
Slot machines action remained a high point in the monthly stats; Nevada casino operators reported $575.7 million in slot revenue in August, up 10 percent from a year ago, as punters put $8.8 billion in slot machines. However, Board analyst Mike Lawton pointed out that slot play has yet to fully rebound to pre-recession levels.
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Gambling News :
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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