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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.
888 HOLDINGS COMMENTS ON BWIN-PARTY BID -
After some weeks of silence whilst GVC has been upping its offer for Bwin-Party, rival bidder 888 Holdings plc issued a statement Thursday indicating that it stands on its earlier proposal, which the Board of Bwin-Party continue to recommend.
NYX Gaming Earnings Report -
Despite record levels of revenue the NYX Gaming group felt the drag of its underperforming online poker subsidiary Ongame in the second quarter of 2015, its latest results disclose.
GVC Holdings H1-2015 results -
GVC Holdings plc, still embroiled in the fight to buy Bwin-Party, issued its H1-2015 results Friday, commenting that it intends to play a key role in the consolidation phase the online gambling industry is currently experiencing.
BWIN-PARTY EARNINGS UP 2 PERCENT IN H1-2015 -
Bwin.Party Digital Entertainment plc, the online gambling group at the centre of a tug of war between potential buyers GVC Holdings and 888 Holdings, posted a 2 percent rise in first-half 2015 earnings Friday.
Dutch Gambling Market Continues to Grow -
The Dutch government has yet to implement its online gambling legalisation regime but that hasn't stopped the market from growing, according to an overview published this week by the regulator, Kansspelautoriteit.
2015 European Poker Tour High Roller event in Barcelona -
German online and live tournament poker ace Martin Finger has added another trinket to his bulging trophy cabinet - along with the first prize of Euro 865,900 - after taking down the Euro 25,000 buy-in European Poker Tour High Roller event in Barcelona.
DraftKings Opens 3 New DFS sports lounges -
Daily fantasy sports operator DraftKings continued to invest in gaming facilities at top US football stadia this week, opening three new DFS sports lounges in partnership with NFL franchises Dallas Cowboys, New England Patriots and Kansas City Chiefs.
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