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Nevada Gambling Revenues Up 11.2 Percent August 2013
Tuesday October 1,2013 : NEVADA GAMBLING REVENUES SOAR 11.2 PERCENT IN AUGUST
Baccarat the hero as gambling win tops $955.3 million.
Casino owners and politicians in Nevada alike will be pleased with the 11.2 percent y-o-y rise in August casino revenues reported Monday by state regulators.
Casinos state-wide won $955.3 million from gamblers in August, an increase of $96 million compared with the same month a year ago.
Baccarat high rollers made a substantial contribution to the boost, wagering over a billion dollars to deliver $193.6 million in revenue, up 55.6 percent or $69.2 million. It was the fourth-largest monthly baccarat win in state history, Mike Lawton, senior analyst with the Nevada Gaming Control Board, told the Associated Press news agency.
Though the total volume of betting action was down $13.1 million, the house win percentage was 18.5 percent, up from 11.9 percent in August 2012.
"It was the highest baccarat hold percentage since June 1999," Lawton said. "The house ran extremely hot. It's pretty much an anomaly, what that hold percentage was."
Excluding baccarat, casino winnings state-wide would still have registered a 3.7 percent gain, or $26.8 million.
"The month was really carried by baccarat but other games had a strong month, too," Lawton said.
Big resorts on the Las Vegas Strip won $816.7 million, a 12.3 percent increase over August 2012. Clark County as a whole saw gambling revenues spike nearly 20 percent.
In Washoe County, casinos won $73.8 million, up 8.4 percent and the largest rise recorded since 2009 in the county, which has seen gambling revenue gains in five of the last six months.
Revenue won by casinos in Reno were up 9.7 percent, Lawson reported.
Overall, gamblers wagered $11.3 billion on card and table games and slots machines. $2.6 billion was bet on card games, of which $1 billion was wagered on baccarat. Game and table win was up $110.7 million, or 35 percent. $8.7 billion went into the slot and video gambling machines - an increase of $21.3 million on the same period last year.
The state of Nevada collected $51.3 million in gambling taxes from the August casino revenues - a 3.5 percent increase from the same month last year.
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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.
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.
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