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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 :

SBTech in deal with BetFIRST - SBTech has entered into an agreement with Belgian online and terrestrial operator BetFIRST for the provision of its online, live and mobile sports betting platform in the regulated Belgian market.

Yggdrasil Gaming has released its own H1 update - Growth in the company has seen its staff complement double, the opening of new sales offices in Gibraltar and Poland and the launch of a second games studio in Ukraine.

Dan Savage New VP at Scientific Games - Scientific Games Corporation has announced the appointment of Dan Savage in the role of vice president, corporate marketing.

New ChairMan For IGRG - Our original intention was to rotate the chairmanship on an annual basis between each of the trade associations, but we soon decided that it would be beneficial to have an independent chairman

BetButler Shut - UK betting concierge BetButler Limited has gone offline, saying its has been approached by an unnamed third-party regulated gaming business for the acquisition of its customer database

OPAP Acquires Payzone - OPAP susbsidiary OPAP Investments has coughed up Euro 7.75 million for a 90 percent stake in the Payzone Group, the largest mobile phone top-up network in Greece with over 11000 POS terminals.

Dutch online poker market shows a sharp decline - According to legal and economic business solutions provider Academicon, views on the estimated size of the soon to be regulated online gambling market in the Netherlands are often biased by political agendas.

Hitstars Given Approval To Launch - The launch of the HitStars platform will include 140 game options that include roulette, blackjack, casino games, poker, bingo, a live dealer casino and sportsbetting.

PokeCent License Suspended - According to PokerCent's website, operations have been suspended pending the operatorsí provision of updated gaming software certification.

Macau Casino Revenues Down in August 2014 - Observers say that wealthy Chinese gamblers are nervous of drawing attention to themselves amidst a serious anti-corruption drive and a softer economy throughout the nation.

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