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Atlantic City Revenues keep Declining : Sept 2011

Wednesday October 12, 2011 : But at least the decline is slower
 
Gambling revenue in New Jersey continued to decline last month, falling 0.6 percent to $294.7 million, the state's Division of Gaming Enforcement said Tuesday.
 
Table games win actually increased 2.7 percent to $89.8 million but slot machine win slipped 1.9 percent to $205 million.
 
Year to date, revenue is down 7.8 percent, the regulators revealed, adding that the casinos paid $20.5 million in taxes on gross revenues in September.
 
Associated Press opined that Atlantic City’s long casino slump may be nearing its end, describing the slower decline as "a heartening development in the nation’s second-largest gambling resort in the midst of a nearly five-year revenue skid."
 
For the first nine months of the year, New Jersey casinos won $2.6 billion. That’s down 7.8 percent from the same period in 2010.
 
In stark contrast was a report from the Macau Daily News, which revealed that in the first nine days of October alone the gambling enclave’s land casinos generated MOP 10.8 billion (around US$1.35 billion) in revenues.
 
The massive burst of gambling is attributed to the Chinese national holiday week according to information compiled by Portuguese news agency Lusa.
 
Macau’s visitor arrivals during the Chinese national holiday week rose 13.27 percent to 775,968 from a year earlier, the city’s tourism office said in a statement.
 
According to gaming analysts, casino operators in Macau are set to see October revenues surge around 40 percent to a record MOP 26 billion (USD 3.24 billion).
 
Local gaming revenue reached MOP 194.4 billion in the first nine months of the year, 46 percent higher than a year earlier (see previous InfoPowa reports). Even though there are three months still to be accounted for, the accumulated total is already higher than in the whole of 2010, when it hit MOP 188.3 billion.
 
And in Las Vegas, gambling revenues again slipped in August by 8.7 percent, ending three months of gains. Betting declined to $496.9 million on the Strip, Nevada's Gaming Control Board said Tuesday.
 
Revenue is up 5.2 percent for the first eight months of 2011 from a year earlier as the city stages a bumpy recovery from a record two-year drop in gambling and conventions.

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Gambling News :

IS DAN BILZERIAN A POKER FISH? - Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,

Vegas Crest online casino adds 30 new games - The Vegas Crest online casino has announced the addition of 30 new video slots to its games inventory from developers GameArt and Xplosive.

AMAYA C.F.O. RETIRES - Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.

Is Sheldon Adelson in Favor of Trumo - With the inaugural presidential lunch coming to a close Friday afternoon, US Congressional reporter Paul Kane offered an interesting tweet, noting:

SD618 Massachusetts Online Gambling bill Updates - A few more details have emerged on Sen. Bruce Tarr's new online gambling legalization bill SD618 just filed in the Massachusetts Senate.

2017 $25,000 buy-in Aussie Millions Challenge event results - Taiwan poker pro James Chen has emerged victorious in the $25,000 buy-in Aussie Millions Challenge event after besting a field of 133 at the Crown in Melbourne.

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

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