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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 :
Police Stop Asia Pacific Poker Tour Nanjing Millions -
There was drama at the Wutaishan Sports Centre in Nanjing Friday when local police stopped players entering to participate in the 2015 Asia Pacific Poker Tour Nanjing Millions, issuing a notice which shut down the tournament and claimed the organisers were suspected of illegal gambling.
FBI Evidence Against Paul Phua Dropped -
Federal prosecutors in the illegal sports betting case against Paul Phua suffered a setback Friday when US District Judge Andrew Gordon ruled that evidence gathered through a questionable FBI ruse abused the accused's privacy rights and is therefore inadmissible.
NYX Gaming Posts Q4 and full year 2014 results -
Expansion is the broad strategy going into 2015, online gambling software and turnkey provider NYX Gaming revealed in posting its Q4 and full year 2014 results this week, flagging the following highlights:
Bwin.Party Intergrates Net Entertainment Games -
Late last year Bwin.Party signed a content supply agreement for its internet and mobile casino with Swedish online gambling software developer Net Entertainment, and the deal came to fruition this week with the launch of the new games.
Global SportsBetting Market WOrth 3 Billion -
The global sports betting market is conservatively estimated to be worth up to $3 trillion, and 90 percent of it is illegally conducted, a United Nations conference session on match-fixing heard this week.
Positive online gambling legalisation bill hearings In Pennsylvania -
Media reports from Pennsylvania on Thursday's online gambling legalisation bill hearings are pretty much unanimously positive, portraying a professional political approach by members of the House Gaming Oversight Committee, which reportedly listened intently to the testimony of properly experienced and qualified people.
Resorts Casino AC Opens Online Gambling Lounge -
The sixth Atlantic City casino to introduce online gambling, Resorts Casino Hotel has taken a further step in merging in-person and online gaming by launching its Internet Gaming Lounge Thursday.
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