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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.
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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NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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