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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 :

Aaron Mermelstein Wins Borgata WPT Main Event - #borgata #wpt Philadelphia poker pro Aaron Mermelstein (27) took home the winner's prize of $712,305 and his first WPT title this weekend after besting an entry field of 989 players in the 2015 World Poker Tour Borgata Winter Poker Open.

Fantasy Sports Washington state lawmakers discuss skill vs. chance - #fantasysports #draftkings Washington state Senator Pam Roach was in the front ranks pushing for the legalisation of daily fantasy sports at a preliminary hearing of her legalisation bill before the Senate Commerce and Labor Committee Friday, appropriately decked out in Seattle Seahawks regalia to indicate her Super Bowl favourite for Sunday.

2014 Casino Revenues Drop in Nevada - Revenues on the Las Vegas Strip fell 2.1 percent to $6.37 billion in 2014, in contrast to Downtown Vegas where they rose 2.1 percent to $511.4 million.

5 More Online Casino Operators Exit Germany - #germany #onlineCasino Five online casinos advised their German players in very similar communications this week that they plan to exit the German online gambling market on February 1, triggering speculation on whether this was an individual operator decision or one handed down by their common software provider, Playtech.

Sen. John McCain Wants USA SportsBetting - With sports betting fever reaching its peak with this weekend's Super Bowl game, the focus on America's restrictive sports betting laws has intensified, with influential Republican Senator John McCain calling for the changes necessary to respect public opinion.

Alderney Cuts Cost Of Online Gambling License - The Alderney online gambling licensing jurisdiction has announced major reductions in licensing fees as competition for business hots up in a market where national jurisdictions are increasingly dominant.

David Ginola Fails FIFA President Challenge - About the best you can say about David Ginola's bid for the FIFA presidency is that the Paddy Power marketers achieved masses of publicity from their support of the former professional football player.

Danske Spil getting PlayNGo Games - The company says that GAT's modular open architecture allows for easy integration of third-party products, with a back office that offers Danske Spil a foundation for its new interactive gaming offer.

RUSSIAN GAMBLING ZONES REORGANISED - According to the Russian media agency TASS, businesses in Azov-City, one of the demarcated Russian gambling zones, have received a letter from Alexey Sheyan, Krasnodar Krai Minister of Strategic Development, informing them that the zone has to be "liquidated" by April 1, 2015.

Ian Chuter Leaving Betfair - Chuter joined the company in July 2011, tasked with overseeing Betfair's global customer operations team, which includes telephone betting, market operations, fraud, payments and trading. The role was a new position, reflecting Betfair's commitment to making Operations a more significant focus for the business.

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