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Las Vegas Nevada Casino's Revenue Still Going Down

The economic recession continues to weigh heavily on land gambling companies in Nevada, according to the latest official figures reported by Associated Press this week. Casinos in the gambling state suffered their 13th straight month of declines in January 2009, reporting $908.6 million for a 14.6 percent drop compared with January 2008, according to a state report released Tuesday.
 
Taxes based on the casino win, a major revenue source for the state, were down a staggering 42.3 percent compared with a year ago, the Gaming Control Board reported. So far this fiscal year, those revenues are down 20.3 percent.

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"We are seeing a continuation of the very severe downturn in our economy," Control Board analyst Frank Streshley said. "And we're comparing the January figures to a soft month a year ago. That means we're still not at the bottom. We're still in a declining trend and to try to look forward to when things will flatten out is very hard."
 
Streshley told Associated Press that the big drop in taxes stems in part from credit play during the Chinese New Year celebration at the end of January. Payment of the credit in February should mean improved tax collections in the Control Board's next report a month from now, he added.
 
The $908.6 million win in January was the amount left in casino coffers after gamblers wagered $12.3 billion during the month, including $9.6 billion in slot machine bets and the balance on table games. The betting total is down about 3 percent from a year ago.
 
The GCB report shows declines during January in most major markets in the state, including the Las Vegas Strip which was down 14.8 percent.
 
Elsewhere in southern Nevada, Laughlin was off 10.3 percent, downtown Las Vegas declined 22.7 percent, Mesquite was down 15.1 percent, the Boulder Strip was down 23 percent and North Las Vegas was down 11.2 percent.
 
In northern Nevada, clubs in Washoe County, which takes in Reno, were down 0.02 percent. While that drop was very slight, it was the 19th consecutive month of declines for the area.
 
Resorts on Lake Tahoe's south shore reported a 23.7 percent decrease in January compared with the same month a year earlier.
 
A statewide breakdown shows that slots were off 17.5 percent while table games were down 9.2 percent compared with January 2008.
 
Slots accounted for $579.2 million of the total win. That included $274.5 million won by multidenomination slots, down 10.1 percent. Penny slots were second with a win of $141.2 million, down 0.8 percent.
 
Live games, including poker, accounted for the balance of the January total. That included $96.2 million won on baccarat, up 17.2 percent; $94.1 million won on blackjack tables, down 11.6 percent; $34.9 million on craps, down 13.7 percent; and $22.1 million on roulette, down 33.6 percent.
 
Sports books won $7.9 million, down 58.5 percent. Poker games won $12.7 million, down 0.8 percent.
 
"Win" is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only, not hotel, restaurant or bar revenues.



Gambling News :

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

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