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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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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.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
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.
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