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Las Vegas Visitors up Spending Down

6/10/10 - The tourism agency in charge of promoting Las Vegas says the entertainment and gambling mecca saw a small increase in visitors in April compared with the same month last year.
 
But the Las Vegas Convention and Visitors Authority said Wednesday that the nearly 3.2 million visitors spent less money gambling.
 
Gambling revenue in Clark County was down 6.1 percent to nearly $690 million. The Las Vegas Strip saw a decrease in gambling revenue of less than 1 percent, to $437 million.
 
The agency says that average nightly room rates were up 3 percent despite the addition of 8,000 hotel rooms from last year. Convention attendance was also up 2.9 percent.
 
Officials say 12.2 million visitors have come to southern Nevada so far this year, up 1.3 percent compared with last year.
 
Meanwhile, the state Gaming Control Board has released more up to date figures, saying that  tax collections based on winnings were $39.7 million in May, a 23.4 percent decrease compared with the taxes paid in May 2009.
 
The steepest decreases came on the Boulder Strip, and in South and North Lake Tahoe. On the Boulder Strip, casino winnings dropped nearly 13 percent to $56.8 million. The area produced 7 percent of statewide gambling revenue, compared with 8.8 percent in April 2009.
 
Gambling revenue on the Las Vegas Strip dropped less than 1 percent to $437.3 million. But the Strip slightly increased its share of overall statewide gambling revenue during the month, taking in 54 percent of Nevada's total compared with 51.3 percent in April last year.
 
Only three areas — Carson Valley, Mesquite and Wendover in Elko County — showed any increase. The three areas made up a combined 4.1 percent of the state's gambling revenues.
 
Gambling regulators said casino winnings dropped 4 percent during the first 10 months of the fiscal year, which ends this month. Casinos statewide have won $8.7 billion from July through April, compared with $9.08 billion during the first 10 months of the prior fiscal year.
 
Over that time, casino winnings on the Strip increased just over 0.5 percent, to $4.79 billion.
 
State officials said the taxes collected on gambling revenues in the first 11 months of the fiscal year were $572.7 million, down 5.3 percent from the $604.6 million through the first 11 months of fiscal 2009.

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Gambling News :

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

SOUTH KOREANS BUSTED IN THAILAND ON ONLINE GAMBLING CHARGES - Those detained were named as Jeong Kyujin (35), Han Kyoreh (26), Choi Sung Ming (35) and Bae Jeonghwan (26), all of whom claimed that they had bene hired by a Korean man to operate online gambling sites.

China Lottery Sales Up in 2016 - The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).

New chairman and a new director for 500.com - Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.

Russian betting Sites to face rise in tax rates - Online bookies also pay a 1 percent commission on each transaction through the TSUPIS, and face levies at 5 percent of GGR to assist Russian sports federations.

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