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Las Vegas Gambling Revenues Continue To Drop
Las Vegas land casinos reported a 23.4 percent decline in gaming revenues to $427.4 million in February 2009, well down from the $556 million recorded in the corresponding period a year ago.
Statewide, casinos won $830.9 million in February, down 18 percent from the $1.1 billion they won in the same month in 2008.
For the first two months of 2009, casinos on the Las Vegas Strip won $937 million from gamblers, a 19 percent slide from the $1.1 billion they won for the same period a year ago, reports Gaming Today.
Although gambling revenues are still headed southward, the number of visitors to The Strip has remained relatively steady. In February, there were 2.8 million visitors, only 8 percent fewer than the 3.1 million a year ago. And for the year to date, there were 5.6 million visitors to Strip casinos, down just 10 percent from the 6.2 million reported a year ago.
Airlines flying into Vegas report that passenger numbers have declined about 15 percent so far in 2009, whilst automobile traffic to the gambling city from Southern California has increased by 1.2 percent over the same period.
Analysts say factors that might adversely affect visitors’ propensity to gamble include higher trip costs such as transportation, lodging, food and entertainment, as well as the expansion of casino venues throughout the rest of the country.
Also, according to recent visitor profile studies, the number of first-time visitors to Las Vegas has reached an all-time low, which may account for less casino gambling from guests.
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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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