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Canadian Gambling Slightly Down
New statistics on gambling from Statistics Canada reveal that a decline in gambling in the country - the first in sixteen years - has taken place. Revenues from government-run gambling fell slightly to $13.67 billion in 2008 from $13.70 billion the year before, a decline attributed to adverse economic conditions.
Commenting on the decline, Garry Smith, a gambling research specialist with the Alberta Gaming Research Institute, opined that problem (addicted) gamblers were largely responsible for insulating the industry from the worst of the recession. He estimated that as much as five percent of the adult population has a gambling problem, ranging from mild to severe, but this demographic contributes at least one-third of overall gambling revenues and even more to slot machines and video lottery terminals.
"It's not a recession-proof industry," Smith says. "(But) if you're an addict, you're still going to play and I guess that's one of the reasons it stays up there. Most industries drop significantly; gambling has levelled off and dropped a bit, but not that much."
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Statistics Canada found wealthier households are more likely to gamble than their poorer counterparts, with 34 percent of those with incomes of less than Cdn$20 000 playing games of chance in 2007, compared to 58 percent of those making Cdn$80 000 or more.
The latest numbers from Statistics Canada show that the poorest households devote 1.7 percent of income to gambling, compared to just 0.4 percent in the richest households.
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Gambling News :
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.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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