{"id":7740,"date":"2014-07-27T17:48:20","date_gmt":"2014-07-27T17:48:20","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/07\/27\/online-poker-world-cup-bets-highlight-gaming-jump\/"},"modified":"2014-07-27T17:48:20","modified_gmt":"2014-07-27T17:48:20","slug":"online-poker-world-cup-bets-highlight-gaming-jump","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2014\/07\/27\/online-poker-world-cup-bets-highlight-gaming-jump\/","title":{"rendered":"Online poker, World Cup bets highlight gaming jump"},"content":{"rendered":"


\n\"\"
\n\tBettors stand below the NCAA Basketball tournament betting boards at the Las Vegas Hilton Race & Sports Book Monday March 14, 2011. (John Gurzinski\/Las Vegas Review-Journal)<\/span><\/p>\n

\tHoward Stutz, Las Vegas Review-Journal
\n\tHow nice was June for Nevada casinos?<\/p>\n

\tOnline poker revenue cracked the $1 million mark for the first time since the activity was legalized 15 months ago.<\/p>\n

\tWagering on World Cup soccer accounted for the state\u2019s highest-ever month in the \u201cother sports\u201d category of sports wagering, which included a 116.3 percent in increase in revenue.<\/p>\n

\tStill, Wall Street remained somewhat reserved after the Gaming Control Board on Friday released figures showing the state and Strip recorded their highest monthly revenue increases in 2014.<\/p>\n

\t\u201cWe expect investors to be satisfied, but not ecstatic,\u201d said Macquarie Securities gaming analyst Chad Beynon.<\/p>\n

\tStatewide, casinos collected $906.9 million from gamblers, a 14.4 percent increase compared to a year ago.<\/p>\n

\tStrip casinos collected almost $532.4 million, an increase of almost 22.5 percent.<\/p>\n

\tThe Strip totals were helped by baccarat, which had the highest revenue and wagering totals for June.<\/p>\n

\tThe game contributed $132.8 million in revenue to casinos, a 155 percent increase over June 2013. Gamblers wagered $1.086 billion on baccarat, 57 percent more than a year ago. The hold percentage \u2014 what casinos held based on the wagers \u2014 was 12.4 percent, compared to 7.6 percent last year.<\/p>\n

\tStrip casinos also played lucky on slot machine wagering. Casinos collected $241 million in revenue from slots, an increase of 9 percent from a year ago. The increase was the largest jump in more than a year and halted two straight months of declines in slot machine revenue.<\/p>\n

\tCustomers wagered almost $3.2 billion on slot machines during, an increase of 4 percent<\/p>\n

\tWells Fargo Securities gaming analyst Cameron McKnight said Strip revenues were up 8 percent when removing the effect of baccarat.<\/p>\n

\tStill, McKnight said he viewed the results as a positive for Wynn Resorts Ltd., Las Vegas Sands Corp., and MGM Resorts International.<\/p>\n

\tAnalysts said the Strip\u2019s baccarat numbers have impressed investors for the past three months.<\/p>\n

\tUnion Gaming Group analyst Robert Shore said there may be a correlation between strength in Las Vegas and recent weak baccarat numbers out of Macau.<\/p>\n

\t\u201cRecent commentary and channels checks indicate Las Vegas Strip properties are seeing an increase in Chinese visitors,\u201d Shore said. \u201cThis meshes with our thesis that the primary driver of VIP softness in Macau is politics, not the economy.\u201d<\/p>\n

\tFor the first six months of 2014, gaming revenue is up 1.5 percent statewide and 3.4 percent on the Strip, which also experienced a 17.3 percent gaming revenue increase in May.<\/p>\n

\tGaming Control Board Senior Research Analyst Mike Lawton said gaming revenue from Strip casinos was down 5.5 percent for the first three months of 2014 but has increased 14.4 percent over the last three months.<\/p>\n

\tShore said the Strip\u2019s revenue since the beginning of the year came from nongaming segments, such as nightlife, restaurants, and the hotel rooms.<\/p>\n

\t\u201cThe growth in the gaming segment is an added catalyst to the Las Vegas Strip recovery,\u201d Shore said.<\/p>\n

\tThe World Cup soccer tournament from Brazil was the primary driver for $5.9 million in revenue in the \u201cother sports\u201d category of sports wagering. The amount wagered in the category \u2014 which includes hockey, auto racing and boxing \u2014 was $53.4 million, an increase of 184.3 percent from a year ago.<\/p>\n

\t\u201cWe see the bump every four years,\u201d Lawton said in reference to World Cup soccer.<\/p>\n

\tDuring June, Nevada\u2019s three online poker websites \u2014 Ultimate Poker, WSOP.com and Real Gaming \u2014 collected a combined $1.037 million in gaming revenue. Analysts said the figure was helped by activity associated with the World Series of Poker, which took place at the Rio during the month.<\/p>\n

\tShore said the state\u2019s online poker results will continue to be soft until Nevada\u2019s agreement share players with Delaware takes affect.<\/p>\n

\t\u201cIn the future, multi-state poker compacts could be a more impactful revenue event given a larger base of players, and due to the liquidity dynamic,\u201d Shore said.<\/p>\n

\tClark County as whole experienced a combined gaming revenue increase 17 percent. North Las Vegas casinos recorded a 22.7 percent increase in June while casinos along the Boulder Strip saw gaming revenue increase 17 percent.<\/p>\n

\tDowntown casinos saw gaming revenue jump almost 12 percent in June, which helped reverse an 8 percent decline in May.<\/p>\n

\tNorthern Nevada markets weren\u2019t as lucky in June.<\/p>\n

\tGaming revenue in Washoe County as a whole was down almost 3 percent and Reno casinos saw a 3.1 percent decrease. North Lake Tahoe casinos experienced a 15.4 percent decline.<\/p>\n

\tNevada collected almost $43.6 million in gaming taxes during July based on June\u2019s gaming revenue total, an increase of less than 1 percent compared to a year ago.<\/p>\n

\tGaming regulators also released the state\u2019s fiscal year 2014 gaming revenue totals.<\/p>\n

\tStatewide, Nevada casinos collected $11.2 billion between July 2013 and June 2014, an increase of 2.9 percent over the previous fiscal year. Strip casinos collected $6.6 billion, an increase of 5.2 percent.<\/p>\n

\tLawton said Strip casino revenues represented 58.9 percent of the state\u2019s total for the fiscal year. Baccarat revenues accounted for 25.5 percent of the Strip\u2019s overall total, an all-time high.<\/p>\n

\tStatewide, revenue from slot machines of $6.7 billion represented 60 percent of the state\u2019s overall total, the lowest percentage for the game since fiscal year 1991.<\/p>\n

\n

Replies:<\/h3>\n

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Bettors stand below the NCAA Basketball tournament betting boards at the Las Vegas Hilton Race & Sports Book Monday March 14, 2011. (John Gurzinski\/Las Vegas Review-Journal) Howard Stutz, Las Vegas Review-Journal How nice was June for Nevada casinos? Online poker…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-7740","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/7740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=7740"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/7740\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=7740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=7740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=7740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}