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WSOP'S EFFECT ON DECLINING VEGAS REVENUES AWAITED

The popularity and economic impact of the World Series of Poker is under the microscope as industry analysts wait to assess what effect this year's edition of the world's largest poker tournament may have had on the Vegas Strip in economically troubled times.
 
The Las Vegas tournament was originally held in the spring, but after being taken over by Harrah's Enteryainment, the event was switched to a timeframe closer to summer to boost business in a traditionally slow period.
 
In an economic landscape that has seen revenues in Vegas drop alarmingly, there is now increased interest in how a major crowd puller like WSOP may have influenced the local situation for the months of June - July 2008.
 
The Monthly Win and Percentage Fee Tax Collection report for May 2008 from the Nevada Gaming Control Board recently showed that casino gaming revenue was down 15.17 percent in Nevada - lower in almost every region of Las Vegas when compared to May 2007.
 
Gaming revenues on the Strip were even lower - down 16.44 percent - the second worst monthly performance in more than 10 years and the fifth consecutive month that the Strip has posted lower monthly revenue numbers when compared to the same period a year ago.
 
Las Vegas gaming stocks took a serious hit on the heels of the report, with MGM, which had been trading near $100 in October 2007, declining to around $27.
 
Increased competition - more land casinos in an expanding industry - together with declining personal discretionary income occasioned by a weakened economy and high fuel costs, have reduced visits to land casinos and increased speculation that Internet gambling may be a more attractive proposition for the gambler than incurring the travel and other costs of visiting bricks and mortar venues.
 
Entries in WSOP events this year were up 8 percent, indicating that more gamblers and probably more supporters travelled to Vegas for the big poker event and spent money in the city. Buy-ins for the WSOP were up by approximately $20.8 million.
 
However, Harrah's will be holding back around $24 million from the overall WSOP prize pool of $180.7 million this year until November, when the final table reconvenes in Vegas for the grand finale of the 39th Main Event and prizes for the remaining nine players will have to be paid.
 
The 2008 World Series of Poker is officially the largest and richest in the tournament's 39 years, so there are hopes that the overall effect on the June-July numbers will make for more positive reading.  There were a record 58 720 entries for the 55-event, 47-day poker tournament at the Rio.



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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