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Just as hopes were rising that Nevada had begun to shake off the recession, the Nevada Gaming Control Board reported Thursday that May revenues dipped sharply by 10 percent year-on-year to $885.1 million across the state.
The Las Vegas Strip, which accounts for more than half the total, was hit especially badly, plummeting 18 percent to $475 million, and downtown Las Vegas slipped 2 percent to $45 million.
The regulator reported that volumes at both table games and slot machines declined.
The bright spot was Laughlin which had a better month, gaining 20 percent over the month, and the worst hit was South Lake Tahoe, where casino winnings dived nearly 27 percent.
The state government consequently harvested lower tax revenue, down to $52 million or a 24 percent drop from the last year.
The declines represent an inexplicable switch from a positive trend upward in April and preceding months, where the indications were that business was starting to improve.
In related news the New Jersey Division of Gaming Enforcement revealed that Atlantic City’s casino businesses had reported a 0.6 percent decline in revenues to $274.7 million June, continuing the many months of steady decline for the gambling centre.
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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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