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Usa Land Casino Still Declining Revenue

11/11/09 - September '09 numbers from the Nevada Gaming Control Board show winnings from gamblers at land casinos in the state declined in September for the 21st month in a row.
 
Land casinos statewide won $911 million from gamblers during the month, a 9 percent decrease compared with the same month in 2008.
 
Taxes collected on the September revenue totaled $54.3 million, a 14.6 percent decline from the same month a year ago. For the fiscal year that began July 1, the gambling win has decreased 10.3 percent.
 
The September figure was the amount left in land casino coffers after gamblers wagered $11.6 billion at slot machines and table games, a decline of 4.2 percent from the same month in 2008.
 
However, taking a positive view, officials noted that the numbers marked the second month in a row where declines have stayed in the single digits.
 
August posted the first single-digit decline since May, said the Board's analyst, Frank Streshley.  September was also the first time since March the statewide casino win exceeded $900 million, he said.
 
Casino wins on the Las Vegas Strip, which account for about half of all state gambling revenue, fell to $506.4 million, down 3.6 percent, the smallest decline since June 2008.
 
For all of Clark County, Nevada's population and tourism hub, the casino win fell to $774 million, down 9.3 percent from $853.5 million won in the same month last year.
 
Streshley opined that the Las Vegas Strip results suggest it will rebound faster than the rest of the state, as the national and international economies begin to show signs of recovery. Smaller local markets, however, will struggle longer, weighed down by Nevada's record 13.3 percent unemployment rate and weak housing market.
 
In Washoe County, which includes Reno, casino win dropped nearly 6.4 percent to $72.1 million, marking the 27th month of straight declines for that area.
 
Along Lake Tahoe's south shore, casinos reported a 10.8 percent drop, taking in $21.8 million. Elsewhere, revenue fell 7 percent in Elko County; 15 percent in Churchill County; and 3.9 percent in Douglas County's Carson Valley
 
New Jersey's Atlantic City land casinos appeared to be displaying a similar improved trend.
 
October revenue figures showed a slower rate of decline for the nation's second-largest gambling market at around 6.5 percent compared with a year ago. The latest numbers are anm improvement on the double-digit declines that have plagued the region's gambling venues- as much as 20 percent down in March this year.
 
October results are only slightly worse than the September figures, which showed a 5.8 percent decline.
 
For October, the Atlantic City land casinos won $323.8 million: $222.4 million at slots and another $101.4 million at table games.
 
However, there are fears that gambling developments in rival states will further increase competition and negatively impact the New Jersey business. Delaware's casinos will soon offer table games, and Pennsylvania - already a threat with its slot parlours - has similar plans.
 
"There's more pain coming," said Joe Weinert, senior vice president of Spectrum Gaming Group, a New Jersey casino consulting firm. "A lot of the bread-and-butter customers are gone forever. That money has gone to casinos in eastern Pennsylvania, and it's not coming back."
 
Only two of Atlantic City's 11 casinos showed an increase in revenue in October: Caesars Atlantic City, which was up 11.1 percent, and the Showboat Casino Hotel, which was up 11.2 percent.
 
For the first 10 months of the year, casino revenues are down 13.5 percent compared with last year.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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