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Another bad Month For VEGAS CASINO'S

10/9/09 - The stressed economic situation continues to impact Nevada land gambling venues according to official figures for August 2009, which show that casinos won $847 million from gamblers in August, a 9.3 percent decline compared with the same month in 2008.
 
The Nevada Gaming Control Board reported Thursday that monthly revenue for the first two months of the fiscal year that began in July fell nearly 11 percent compared with a year ago. 

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The latest statistics show that the decline is now in its 20th consecutive month as the recession discourages gamblers from travelling to gamble.
 
Looking for the positive in the latest numbers, the Board's top analyst Frank Streshley pointed out that August marked the first single-digit decline since May. But he said that in-state gamblers have also cut their gambling spend.
 
"A good percentage of our growth has [traditionally] come from the local side, and that's been impacted heavily by unemployment and the housing crisis," he said. Nevada's unemployment rate in August hit a record 13.2 percent, the second highest in the nation.
 
The state collected $49.6 million in casino taxes based on the August revenues, a 9 percent decrease from the same month one year ago.
 
Gamblers wagered $11.6 billion at slot machines and table games in August, a decline of 13.4 percent. Slot wagering fell 16.9 percent to $9.1 billion, while table game wagers fell 3.7 percent to $2.5 billion.
 
Streshley noted that wins from the high stakes game of baccarat helped keep the revenue decline from falling even lower. Casinos won $109.5 million on baccarat, up $35.8 million or 48.6 percent, from August 2008. Without that, statewide revenue fell 14.3 percent.
 
Casino wins on the Las Vegas Strip, which account for about half of all state gambling revenues, fell to $449.5 million, down $44.5 million or 9 percent, the report revealed.
 
In Washoe County, which includes Reno, revenue dropped nearly 21 percent to $73.9 million - the smallest reported since 1989 and the 26th straight month of decline for the county.
 
Lake Tahoe's south shore operations declined 29 percent, taking in $21.9 million, the lowest August win since record keeping began in 1983.
 
Revenue increases were reported in only two Nevada markets, North Las Vegas and Boulder Strip, which reported revenue increases of nearly 22 percent, mainly due to new casinos opening, which boosted year-on-year results.
 
Gambling revenue fell almost 15 percent in Elko County, 17 percent in Douglas County and 12 percent in Churchill County.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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