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February 2016 Gambling Revenue up in Nevada

Thursday March 31,2016 : NEVADA GAMBLING FEBRUARY NUMBERS UP
 
Revenues up 8.1 percent year-on-year, boosted by Superbowl sports betting.
 
The Nevada Gaming Control Board reported Wednesday that gambling revenues in the Silver State were up 8.1 percent year-on-year in February, buoyed by strong sports betting on the Superbowl and an extra day due to a leap year.
 
Gambling revenue from football betting was particularly good, rising 10 percent, and positive for operators despite football winnings accounting for less than 1 percent of Nevada's annual gambling revenue, and sports betting overall accounting for about 2 percent.
 
Nevada sports books took in a record $132.5 million in Super Bowl wagers for this year's game, in which underdogs Denver Broncos upset the Carolina Panthers 24-10. The books held around $13.3 million of that, according to preliminary figures.
 
Total sports betting handle for February came in at $363 million - a February record.
 
On table games, revenue rose 8.3 percent, whilst slot action was up 7.8 percent.
 
Las Vegas Strip gambling revenue grew 7.3 percent to $570 million, while downtown Las Vegas brought in $51 million for a 17 percent increase. Reno casino revenue was up 6.9 percent to $48 million, and South Lake Tahoe revenue was up 3.8 percent to $16 million.
 
The (usually) big money generator, baccarat, was again flat in February.
 
The Nevada taxman benefitted to the tune of $51 million in February - down 12.9 percent year-on-year.
 
Board analyst Michael Lawton said that future events in the state could be good for operators in the weeks ahead, including March Madness, major fights and the grand opening of the T-Mobile Arena on the Las Vegas Strip.

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Gambling News :

HeyPoker Closing - The operator is licensed by the UK Gambling Commission and the Malta Gaming Authority, with the registering company listed as Evoke Gaming Ltd.

Can Jack Lam Make Things Right in Philippines - Lam will no doubt seriously consider the offer, having lost access to his Philippines businesses and with charges of attempted bribery and "economic sabotage" and an arrest warrant hanging over his head .

PPA Wants pre-emptive strike against RAWA - It's not just civic associations that are warning against the introduction of a federal ban on online gambling in a denial of states' rights . The Poker Players Alliance action group has begun mustering its over a million US members in a campaign as well.

UK Wants Fixed Odds Betting Terminals Changes - The group, titled FOBT All-Party Parliamentary Group plans to release its full report early in the new year, but for now has claimed that changes to FOBT regulations could help in reducing "associated crime" and problem gambling.

Sportech Wins 8 Year Old VAT case - An eight-year long, GBP 97 million VAT repayment claim dispute between Sportech PLC and HM Revenue and Customs (HMRC) has come to an end with the Supreme Court refusing HMRC permission to appeal a previous Court of Appeal ruling.

2017 MPN Poker Tour - Main Event packages, worth 1,500, are available online and players can qualify via any of the MPN participating card rooms through a variety of satellites, with buy-ins starting as low as 0.25. Each 1,500 package includes:

Realistic Games in deal with Kindred Group - The UK-based online gambling games developer Realistic Games has signed a deal to supply its games to online operator Kindred Group, parent company of quality brands that include Unibet, Stan James and Maria Casino.

Opposition to Anti Online Gambling Bill in Congress Lame Duck Session - Action groups appeal to House Appropriations Subcommittee to ensure that RAWA style language is not attached to unrelated spending bill.

DFS banning bill Introduced in Illinois - The legislative season in Illinois may be drawing to a close, but that hasn't stopped a new bid to ban daily fantasy sports from being assigned to the House Executive Committee; whether there is sufficient time to pass the bill is a matter for speculation.

Cambodia To More Closely Control Online Gambling - Cambodia, where online #gambling is operated by licensed land casinos alone, and Cambodian punters are banned from participating, is to tighten monitoring, control and management of the activity by setting up a centralized server, a Ministry of the Economy official revealed this week in a media interview.

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