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March 2016 Las Vegas Revenues
Thursday April 28,2016 : LAS VEGAS REVENUES DIP IN MARCH
3 percent year-on-year slide recorded.
Nevada regulators reported Thursday that gambling revenue for March 2016 slipped 3 percent year-on-year, with the casinos winning $951 million. The decrease was attributed mainly to lower winnings in the Las Vegas casinos.
The Nevada Gaming Control Board reported that Las Vegas Strip gambling revenue was down 4 percent to $487 million last month, and downtown Las Vegas was also down 4 percent at $51 million.
The state collected almost $73 million in tax revenue - down 8 percent from the same time last year.
Sports betting handle continued the upward trend this year with $460 million bet in March, most of it wagered on basketball. March is traditionally the biggest month for basketball betting, with the men’s NCAA basketball tournament - March Madness - and the NBA regular season winding down. March 2016 figures were $50 million better than last year.
Nevada sportsbooks won just $9.7 million, as they had to pay out about $13 million in old winning football tickets. That’s down significantly from the $18.5 million win for sportsbooks in March 2015.
2016 has been good for Nevada sports betting in terms of handle, with $363 million wagered in February and almost $450 million in January.
For the first three months of the year, there has been around $1.3 billion wagered overall in Nevada - a $183 million improvement over the same period last year.
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Gambling News :
South Africa Going After Illegal Gambling -
In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.
Global Poker League Championship Results -
#gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.
Yahoo DFS Gets Uk License -
#yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.
SPANISH GAMBLING MARKET CONTINUES TO GROW -
Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.
Novomatic Acquires Albanian National Lottery -
#Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.
2016 Massachusetts Gaming Commission Report -
Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.
Jack Lam denies bribe allegations -
Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.
Fonbet Gets Russian Betting License -
#Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.
New Attempts to Restore the Wire act -
In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.
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