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Las Vegas 8.1 percent year-on-year improvement

Saturday December 10,2011 :  BACCARAT PUSHES UP NEVADA REVENUES IN OCTOBER
 
More good news as official figures show an 8.1 percent year-on-year improvement
 
Nevada casinos won $961 million in October, posting an 8.1 percent year-on-year increase thanks to heavy action by the high rollers at baccarat tables, the Nevada Gaming Control Board reported Friday.
 
Winnings on the Las Vegas Strip were up 13.3 percent in October after bringing in nearly $561 million that month. The percentage gain comes against a tough comparison with the same month last year, when Strip resorts saw winnings increase 16.1 percent, the Associated Press news agency reported.
 
Mike Lawton, a senior control board analyst noted that the Strip casinos' win "represents the first double-digit increase for the Strip versus a double digit comparison since July 2007."
 
Nevada collected $65.4 million in taxes based on October statewide casino winnings, an 8.6 percent increase compared with last year, the Board's numbers reveal.
 
Gamblers wagered $842.4 million on baccarat, up $337.2 million, or 66.7 percent, posting a record amount for the month, Lawton said. The $158.2 million won by casinos on the game was also a record for October and represents a 73.3 percent increase over the same month a year ago.
 
The "casino win" is what was left in casino coffers after gamblers wagered $12 billion on slot machines, card and table games and sports betting. The $9.3 billion pumped into slot machines and video poker games was down $2.9 million from October 2010, AP reported.
 
Gamblers spent $2.7 billion on table games, an increase of $299.2 million or 12.2 percent.
 
But it was baccarat that saved the day: excluding those numbers, table game volume was down 2 percent, or $38 million, Lawton said, and the total statewide win would have posted a fractional gain of 0.7 percent.
 
For the last fiscal year that ended June 30, baccarat accounted for 20 percent of total winnings on the Strip, he added, pointing out that the game was becoming increasingly dominant.
 
In related news, Atlantic City numbers in November continued to cause concern, with combined casino revenue falling 6.3 percent from a year ago.
 
The New Jersey state gambling city's 11 gambling halls took in $245.1 million, according to figures released Friday by the state Division of Gaming Enforcement.
 
Slot machine revenue fell 4.9 percent, to $173.2 million, while table game revenue decreased by 9.6 percent, to $71.9 million. Only four of the 11 casinos reported a monthly revenue increase.
 
Trump Plaza Hotel and Casino was the biggest loser, down nearly 32 percent from a year ago. It took in $8.6 million last month
 
For the first 11 months of the year, the casinos won $3.1 billion. That's down 7.7 percent from the same period in 2010.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

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.

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