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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.
Recent Gambling News :
GSN Games buys Idle Gaming -
GSN Games has further boosted its social gaming offering with the acquisition for an undisclosed consideration of social casino firm Idle Gaming. The agreement includes additional mobile technology and experienced members of staff at Idle.
SPECTACULAR YEAR FOR AMAYA GAMING -
Montreal-based and Toronto-listed online gambling group Amaya Gaming captured mainstream headlines Tuesday with an eight-fold increase in quarterly adjusted earnings, and an announcement that it intends to seek a secondary listing on Nasdaq.
Codere Getting NetEnt Games -
Net Entertainment has announced a new content deal, this one with Codere, which will see the Swedish software provider supplying a suite of games to Codere's Spanish online casino operation.
Amaya Gaming Sells Cadillac Jack -
The Amaya Gaming group in Montreal has shed another subsidiary as part of its strategy to concentrate on internet and mobile gaming, confirming that it has entered into a sales agreement with AGS for Cadillac Jack, a slots manufacturing company.
EZ Baccarat Game Launches -
EZ Baccarat is carried on GameAccount's Simulayted Gaming platform , with the first client Foxwoods Resort Casino Connecticut. Parx Casino in Pennsylvania and Empire Casino in New York will soon follow suit.
BetConstruct To Provide Odds To Gaming1 -
Gaming1 chief executive officer Sylvain Boniver said considerations taken into account before signing the BetConstruct deal included fluency of the information flow, the number of live events covered worldwide and the flexibility of the supplier, all of which Betconstruct satisfied.
Alessandro Allara New Head of SNAI in Rome -
With fifteen years in the online gambling industry under his belt, and a wealth of contacts, Alessandro Allara is well qualified to head up the online gambling division of Italian gambling group SNAI in Rome, a position he took up earlier this month after leaving Paddy Power, where he was Direttore della comunicazione, Italia.
Huge Win at Slotland Casino -
Winning player DonnaS has been a regular at the casino for the past two years and told casino staff that whilst playing on a cold, dark winter's evening she hit the jackpot.
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