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Finally VEGAS Revenues RISE

4/9/10 - February gaming revenue jumped 32.9 percent on the Las Vegas Strip according to the latest official statistics, lifting shares of MGM Mirage, Las Vegas Sands Corp. and Boyd Gaming Corp. And Nevada state-wide gambling winnings were up almost 14 percent.
 
The Nevada Gaming Control Board revealed this week that land casinos' winnings increased to $946.6 million, compared with $831 million in February 2009, with most of the momentum coming from the Strip, where casinos won nearly $568 million, up 33 percent from $427 million in the same month last year.
 
Associated Press reported that this is the largest increase in casino win on the Strip since November 1999.
 
Gaming Control Board spokesman Frank Streshley said a positive calendar where both the Super Bowl and Chinese New Year fell entirely in February had helped push the numbers upwards, generating high visitor volume from high rollers in Asia and Pacific Rim countries.
 
Analysing the stats, Associated Press reported that February's statewide posting is the largest monthly casino win increase since December 2006 and the first double-digit increase since July 2007.
 
Streshley commented: "We've either hit bottom or will be slowly climbing out."
 
Gamblers wagered $11.7 billion on slot machines and card games, with $8.9 billion wagered on slots (down 2.3 percent) and $2.8 billion on table games (up an impressive 37 percent) from the same month a year ago.
 
Baccarat, a high-roller game, was again a popular choice for gamblers, generating $1.2 billion in wagers (up 130 percent) and $206.1 million in earnings for the casinos Streshley said.
 
Taxation from gambling during February brought $47 million into state coffers, down some 28 percent from February 2009, largely because of credit play. Casinos do not pay taxes on markers — short-term loans extended to players — until the debt is collected.
 
Elsewhere, casinos in northern Nevada's Washoe County reported winning $60.9 million, up 2.7 percent for the first monthly increase in 32 months, whilst in Reno, casino winnings of $43.9 million was an increase of 4 percent. South Lake Tahoe continued to battle, dropping 15.4 percent to $14 million as a result of increased competition from tribal casinos in California.

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In related news, Reuters reported that gambling revenue in Macau will reach close to $1.68 billion for March 2010, underscoring sustained growth in the world's largest and fastest-growing gambling market.
 
Stanley Ho's casino flagship SJM Holdings retained the biggest share of the market, at around 30 percent, while Sands China, the Macau unit of Las Vegas Sands, was second with around 20 percent.
 
Macau casino revenue last hit a record in January 2010, when revenue rose 63 percent from a year earlier to $1.80 billion.



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Recent Gambling News :

Veteran Quarterbacks Pour Gas on AFC North Rivalry - A pair of AFC North rivals will take the stage on Sunday. The Baltimore Ravens and Pittsburgh Steelers are neck and neck in both the standings and on the NFL betting lines. Football fans will have to choose which team has what it takes to steal a lead in a tight division.

Four Horses Stand Apart at Breeders Cup Classic - Wise Dan is the two-time winner of the Eclipse Award as the top American Horse of the Year. However, Wise Dan won't win the award this year, and he’ll sit out from this weekend's Breeders' Cup Mile with an injury. He won the race the past two years.

Horse of Year Award Likely Goes to Breeders Cup Classic Winner - The 2014 Horse of the Year Award is expected to be on the line in Saturday night's Breeders' Cup Classic. The $5 million purse makes the Classic North America’s richest horse race. A field of 14 horses will compete in the marquee event of the 31st Breeders' Cup World Championships at Santa Anita.

Shared Belief Favored in $5 Million Breeders Cup Classic - A strong field will take to the track at Santa Anita on Saturday night for the 1 1/4 mile Breeders' Cup Classic. With a purse of $5 million, it's the richest thoroughbred race in North America.

Malaysia Shutting Down 172 Gambling Websites - The Malaysian Communications and Multimedia Commission (MCMC) has traced 172 illegal online gambling websites in the country, which it says it is intent of shutting down as part of a broader government drive against internet gambling.

ASA handles 398 complaints about gambling adverts last year - The marketing publication Brand Republic reports this week on the UK Advertising Standards Authority's recent review, which showed that the advertising watchdog handled 398 complaints about gambling adverts last year.

Intralot Italia signs up for virtual sports services - Inspired Gaming has been chosen as a cirtual sports supplier by Intralot Italia - the eighth operator to select this product range, which includes football, horse-racing, tennis and cycling titles.

Ladbrokes in SPonsorship of Brisbane Roar - Ladbrokes marketing director James Burnett said Wednesday that football was an important element in the Ladbrokes business plan, and that the agreement will strengthen its Australian footprint.

11 arrested in Hanoi Gambling Ring - The crime of organising illegal gambling is punishable by jail terms of up to ten years and the confiscation of property in Vietnam.

CHURCHILL DOWNS TO SHUTTER LUCKITY BINGO - Louisville gambling firm Churchill Downs Incorporated (CDI) will reportedly shutter its two-year-old Luckity bingo operation according to a filing with the Securities and Exchange Commission.

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