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BLEAK NOVEMBER FOR NEVADA LAND CASINOS
The Nevada state Gaming Control Board issued its latest statistics for land casinos Friday, making for depressing weekend reading. Winnings dropped almost 15 percent in November - the eleventh consecutive month of declining business compared with similar periods in 2007, reports Associated Press.
Nevada monthly gambling win for November 2008 was posted at $836.8 million - down from more than $982 million on November 2007. The state's coffers were hit in terms of lost taxes amounting to a 27 percent drop at $44.4 million.
Control Board analyst Frank Streshley said: "It's the economy, the big decline in the stock market and people tightening up on their spending. The state is having a difficult time with (tourist) visitation and the amount of money being spent by those who do come."
Associated Express explains that "Win" is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only, not hotel, restaurant or bar revenues.
Gamblers wagered $11.8 billion during the month, including $9.7 billion in slot machine bets and the balance on table games. The betting total is down nearly 12 percent from a year ago.
Declines during November were experienced in every major market in the state, including the Las Vegas Strip which was down 16 percent.
Elsewhere in southern Nevada, Laughlin was off 18.1 percent, downtown Las Vegas dipped 1.6 percent, Mesquite was down 8.8 percent, the Boulder Strip was down 16.4 percent, and North Las Vegas was down 1.8 percent.
In northern Nevada, clubs in Washoe County, which takes in Reno, were down 15.2 percent. That's the 17th consecutive month of declines for the area.
Resorts on Lake Tahoe's south shore reported a 4.7 percent decrease in November compared with the same month a year earlier.
A statewide breakdown shows that slots were off 15.2 percent while table games were down 14.3 percent compared with November 2007.
Slots accounted for $558.1 million of the total win. That included $259.3 million won by multidenomination slots, down 10.2 percent. Penny slots were second with a win of $136.5 million, up 4.3.
Live games, including poker, accounted for the balance of the November total. That included $85.2 million won on blackjack tables, down 16.6 percent; $34.3 million on craps, down 12 percent; and $23.5 million on roulette, down 20 percent.
The win on baccarat was $39.8 million, down 29 percent; and the win on mini-baccarat was $8.9 million, down 16 percent.
Sports books won $27.2 million, up 54.6 percent. Poker games won $12 million, down 5.7 percent.
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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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