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Nevada Gambling Revenue Down again
Posted 1/12/11 : Signs of a recovery fade once more
November 2010 statistics on Nevada land gambling have turned out to be disappointing, recording a 5.9 percent decline and reducing hopes that the worse may be over for the gambling state.
According to Associated Press reports, what was seen as a three-month rally of bigger winnings by Nevada casinos came to a halt in November, when casinos won $822 million, or 5.9 percent less when compared with November 2009.
The Nevada Gaming Control Board said the state collected almost $49.8 million in taxes based on casino gambling revenues for the month - down 12.7 percent from a year ago.
Analysis of the numbers shows the $2.2 billion wagered on table games in November fell by $171.1 million, while the $8.5 billion pumped into slots dropped by $286 million from the same month in 2009.
Even the baccarat numbers - traditionally a high roller game favoured by Asian punters - were down by $129 million or 18.6 percent at $567 million, the news agency reports.
Mike Lawton, a Gaming Control Board analyst noted: "The bottom line, it was a real tough comparison month, we knew that." He added that excluding baccarat, the statewide fall was 3.3 percent, or $25.9 million. Table hold -- the percentage won by casinos -- was 11.19 percent in November, down from 12.57 percent in 2009.
Mark Strawn, an analyst with Morgan Stanley, called the report "disappointing relative to recent investor expectations." In a note to investors, he projected revenues on the Las Vegas Strip would "...continue to tread along trough levels" but may show signs of seasonal improvements in early 2011.
Resorts on the Las Vegas Strip reported winnings of $454.3 million, down 4.1 percent from November 2009. Strip resorts account for about half of statewide casino win revenues and are a key indicator on the health of the state's volatile tourism industry.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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