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Las Vegas Gambling #'s Up a Little

May 2009 statistics released by the Nevada Gaming Control Board this week showed a moderating decline. Gaming revenues were down 8.34 percent in May and off 13.71 percent for the year to date, with revenue on the Las Vegas Strip down 6.36 percent for the month and down 15.31 percent for the year.
 
The May result compared with a statewide gaming revenue decline of 14.07 percent that was reported for April 2009.
 
"The revenues that came out today from Nevada indicated that the declines (on the Las Vegas Strip) weren't as large as some other recently reported declines," said Matthew Jacob, an analyst with Majestic Research. "I think there are some expectations out there that this is potentially the beginning of a recovery for the industry," he added. However, he cautioned that his firm's proprietary data were still not showing the kind of improvement that some investors expect to materialise in the next few months. 

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Some casino stocks were still down as much as 80 percent or more over the past year and a half.
 
"We think recovery is going to take longer than maybe the more bullish investors are expecting," Jacob said.
 
Jeffrey Logsdon of BMO Capital Markets said in a client note that the statewide results were "clearly a less worse scenario" than the 13.7 percent decline seen in the year-to-date period.
 
"Our channel checks continue to confirm that Memorial Day weekend was full, albeit at promotional room pricing," Logsdon said.
 
JPMorgan's Joseph Greff said the Strip's results were the best since September 2008's 5.2 percent decline.
 
Nevada casinos won $889 million from gamblers in May, down 8.3 percent compared with their May 2008 win, the official figures revealed. The decline marked the 17th month in a row that the clubs reported declines.  The slump persisted despite several Las Vegas events, including Jimmy Buffett and Dave Matthews concerts and the Manny Pacquiao-Ricky Hatton boxing match.
 
"With a weak month even with the amount of special events going on in Las Vegas, it indicates that we might not be at the bottom yet, that things are still declining at a pretty steep pace," Control Board analyst Frank Streshley said. 
 
With one more month to report, casino winnings for the 2009 fiscal year total just under $10 billion so far - down 13.7 percent.
 
Gamblers wagered $12.6 billion during the month, including $10.1 billion in slot machine bets. The balance was wagered on table games.
 
The report also notes the state collected $50.8 million in taxes based on the May win. That was down 19.9 percent from a year earlier. The collections were the last for the fiscal year that ended June 30, and brought the tax total to $655.4 million, down 15 percent.
 
Streshley said the fiscal-year tax total was nearly $8 million lower than the figure projected only two months ago by Nevada's Economic Forum, whose estimates were used by state lawmakers in approving the state's budget.
 
A statewide game-by-game breakdown shows that casinos' slot winnings were off 12.9 percent. Thanks to big losses by baccarat players in Las Vegas, table games were up 1.1 percent compared with May 2008.
 
Slots accounted for $563.3 million of the total win. That included $260 million won by multi-denomination slots, down 8.3 percent. Penny slots were second, with a win of $156.7 million, down 0.4 percent.
 
Live games accounted for the balance of the May total. That included $96.2 million won from baccarat players, up 36.6 percent; $87.2 million won on blackjack tables, down 12 percent; $31.1 million on craps, down 18 percent; and $29.2 million on roulette, up 8.6 percent. Sports books won $5.6 million, down 11.4 percent.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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