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Nevada October 2014 Gambling Numbers
Thursday November 27,2014 : NEVADA GAMBLING DECLINED AGAIN IN OCTOBER
Numbers down for the third month running.
October 2014 numbers released by the Nevada Gaming Control Board Wednesday show a continuing decline compared with last year - the third consecutive month of slipping revenues.
Casino hold at $914 million was 4.3 percent short from the same time a year ago, prompting NGCB senior research analyst Mike Lawton to comment that revenues have been "flat to down" for some time. Over the ten molnths since the beginning of the year gambling in Nevada has been down a little less than one percent compared with the first 10 months in 2013, he said.
In October, gambling revenues of $787 million on the key Las Vegas Strip were down 6 percent year-over-year. One of the biggest contributors, baccarat, accounted for 16 percent of all gambling revenue last October in the state, but only 11 percent this year and was cited as the biggest cause of the downward slide, with amounts wagered falling 15 percent and win down two points to 10.2 percent on revenue of $97.3 million.
Baccarat has suffered, analysts suggest, due to a more cautious Chinese demographic concerned by the severe crackdown on corruption currently ongoing in China.
The decline was not limited to land gambling; the state's three online poker sites earned $665,000 in October, down 47 percent compared with a year ago. One of the three, Ultimate Gaming's Ultimate Poker, shut down this month , leaving Nevada with two sites: Real Gaming and the World Series of Poker.
It was not all depressing news, however; sports betting - mainly on football - reached a record level in October at $380 million, although casino hold on those bets fell.
Nevada collected $67 million in taxes based on the October winnings, up 9 percent compared with the same time last year.
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Gambling News :
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
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