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Las Vegas Slots Down A sign of tough economic times
This week's business report from the Nevada Gaming Control Board had some depressing news for land casino operators - slot wagering volumes, which deliver around two thirds of Nevada gaming revenues, are down.
The report reveals that slot players wagered $1.1 billion less on slots in July than the same month a year ago, with volumes on the Vegas Strip down by $500 million.
Slot volume fell 12 percent in July 2008 compared with the same period a year ago, and constituted the worst drop in the past seven straight months that slot spending has been on the decline. In June 2008 slot volumes fell 10 percent compared to June 2007, indicating an accelerating rate of decline.
Operators are hoping that an easing in the price of gasoline will bring players back and halt the downward spiral.
The good news in the report was that table game play actually improved, rising 5 percent on the Strip for high end as well as typically lower end games: Baccarat play was up 15 percent and blackjack rose 7 percent. Despite these encouraging numbers, Strip casinos won 21 percent less from table game players in July, mainly because players were just lucky, winning a greater percentage of wagers than is usually the case.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
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.
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