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Tuesday July 12, 2011 :  May numbers cause for relief after a long and difficult period
Official figures for May 2011 released this week show that Nevada gaming revenues soared by 16.2 percent overall, driven mainly by baccarat and slot performances, reports Barron's business news.
Vegas Strip revenue rose 28.9 percent compared with a 2.2 percent drop on the Strip in April, and a 13 percent gain in March this year. Excluding baccarat, Strip revenue was still up 13.2 percent in May (baccarat was up 130 percent), whilst slot revenues rose 11.4 percent year over year.
The total number of Vegas visitors rose 3.3 percent year over year in May, versus increases of 4.8 percent and 5 percent in April and March.
Analysts, however, opined that the results will need to be repeated in the next few months to fully believe in a Las Vegas recovery worth celebrating.
“We believe a more telling indicator of a true recovery or lack thereof will be from summer results, as it is a time period heavily driven by the leisure consumer (with few holidays and conventions),” Sterne Agee analyst David Bain asserted. “Without a decent rebound in leisure activity and spend during consumer periods, we continue to believe that domestic recovery predictions are somewhat ahead of themselves.”
Associated Press quoted Nevada Gaming Control Board numbers, indicating that the state made large gains, with total gambling win of $984 million, an increase of nearly 16.2 percent compared with the same month a year ago.
"This is the largest total win since September 2008 and the largest percent increase since December 2006," said Mike Lawton, senior analyst with the Gaming Control Board.
For the 11 months of the fiscal year, total win is up nearly 2 percent statewide and 5.2 percent on the Las Vegas Strip, he revealed.
Taxes collected in June on the May winnings totaled $68.3 million, up 17.6 percent.
Resorts on the Strip - Nevada's gambling mecca that accounts for half of statewide casino revenues — posted a 29 percent increase in winnings for the month, up $130.2 million to $580.5 million. For the Strip, that's the largest win amount since January 2008, Lawton said.
Gamblers wagered $12.2 billion, $1.2 billion from hi-roller baccarat players. The $2.9 billion gambled on games was up $474.2 million, while $9.29 billion was pumped into slot machines.
While unemployment numbers improved in May to 12.1 percent — down from a record 14.9 percent in December — the state's joblessness is still well above the 9.1 percent national rate.
"In our opinion, the fall in statewide unemployment is a false positive and has been a result of outmigration and a declining work force rather than economic improvement," one analyst noted.

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Gambling News :

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

Why is FullFlush Poker Still Down - Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.

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