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Nevada Poker Tables Maintain Folding Across Silver State, Casino Revenue Falls in February

The total number of Nevada poker tables will shrink once again when the Monte Carlo closes its poker room on April 25 as part of a $450 million renovation that will eliminate the card game from the resort.

It’s just the latest telling sign that poker doesn’t come with similar allure it once did.

Nevada poker tables continue to fade away from floors, as casino operators battle to justify the revenue they create compared to other gambling formats like slots and blackjack.

The number of Nevada poker tables has decreased by almost 30 percent over the last 10 years.

Poker’s heyday came after Chris Moneymaker won the World Series of Poker Main Event in 2003 on an $86 satellite entry. His $2.5 million win revolutionized the card game and exploded its worldwide appeal.

Moneymaker outplayed 838 other entrants during his historic win. The following year, the prize was doubled and the total field eclipsed 2,500. The tournament continued growing, and with it, gambling enterprises in Vegas modified their gaming floors to allow for the influx of dreamers searching to make it rich and wannabe poker pros.

Across the continuing state, there have been 907 poker tables in 2007. Now a ten years later on, that number will be reduced to simply 653 when the Monte Carlo closes its space.

Cash Matters

Needless to say, each square foot of a casino flooring is valuable estate that is real. Since poker simply a highly profitable game for operators as they are only taking costs for hosting the games, if the seats aren’t staying occupied, the tables aren’t likely to last.

In 2016, Nevada casinos collected $118 million on 661 tables. That equates to each table pulling in about $178,500 if revenues had been distributed similarly (which of course they truly are not).

By comparison, the average slot machine in Nevada produced almost $50,000 in winnings for casinos over the final 12 months. Four slot machines take up less space compared to a poker table, and do not need a dealer.

Revenue Retracts, Visitors Disappear

Nevada casino income dropped in February by approximately 4.5 % year-over-year, as the state’s 327 video gaming areas pulled in $945.6 million in earnings. But 2016’s Leap Year provides a conclusion for part of the loss, as analysts rationalized that the day that is additional February accounted for around three percent associated with the decline.

Gaming regarding the Las Vegas Strip was additionally down seriously to the tune of five percent to $541.9 million. But Downtown Las vegas, nevada proceeded its run that is strong income rose over two percent. Revenue there is certainly up 10 percent over the last 3 months.

The Boulder Strip and North Las Vegas had been the largest losers, as revenue plummeted nine and seven percent, correspondingly.

Perhaps more concerning than that 1.5 percent statewide gaming drop (modified for the Leap Year calculation) is the very fact that the Las Vegas Convention and Visitors Authority announced this week that visitation dropped 5.5 per cent in February 2017. That marks the biggest drop since June of 2009.

While gaming is up almost five percent year-to-date in Clark County, visitor volume is down 2.2 percent in the first couple of months of 2017. It’s still early in the 12 months, but certainly enough reason for some concern in Sin City.

Pennsylvania Gambling Machines Could Soon Cozy Up to the Club

Pennsylvania gambling devices might soon be welcomed inside bars and licensed liquor establishments, as well as truck stops and off-track betting venues.

A Pennsylvania gambling expansion push by a bipartisan group of lawmakers hopes to spot gaming that is video in bars and taverns. (Image: Lee Filas/Chicago Daily Herald)

A group of lawmakers in the Keystone State are soliciting support to authorize up to 40,000 machines though no legislation has been introduced regarding the video wagering terminals. This week, the bipartisan coalition of state politicians unveiled a plan that presents $500 million being sent to Harrisburg should the video gaming terminals (VGT) be permitted.

State Senator Guy Reschenthaler (R-Allegheny County) could be the prime sponsor and writer of the legislation that is forthcoming.

‘40,000 illegal VGTs are now running in Pennsylvania within an unlicensed, unregulated, untaxed black colored market,’ Reschenthaler said within a press conference. ‘We need to legalize this industry to create it out of the shadows through licensure and regulation to make certain protections against underage and problem gambling while producing revenue that is much-needed our Commonwealth.’

Reduced Slots Tax

To promote his legislation, Reschenthaler says these times with VGTs is different than prior attempts because Penn National Gaming, the actual only real Pennsylvania-based casino operator, is helping craft the measure.

Casinos in previous years have been strongly in opposition to enabling pubs and taverns to host money that is real machines. The catch is that land-based gambling enterprises would now see their tax responsibilities for slot machines reduced from 34 percent to 29 percent.

Eric Schippers, Penn nationwide’s pr executive, stated the mathematics of the VGT statute adds up for his business, which owns the Hollywood Casino in Grantville in Central Pennsylvania.

Though Reschenthaler hasn’t yet brought his bill to the legislature, he explained liquor establishments would be permitted to host up to five machines. Truck stops and OTB sites could be allowed 10.

Maximum bets would be capped at $5, with a $1,000 payout ceiling per individual each day. Areas would pay 34 percent of these gross revenues to hawaii, plus an extra four percent local share tax.

Online Gambling Hyped

Pennsylvania lawmakers are engulfed in an assortment of pressing gambling issues facing the state. As well as the possible legalization of VGTs, the state needs to amend its local share tax law that the Pennsylvania Supreme Court deemed unlawful last fall.

If a solution isn’t found, communities that host casinos stand to reduce $10 million annually, which often accounts for a substantial amount of a county’s overall working budget.

With Governor Tom Wolf (D) looking to increase paying for education, and also the continuing state facing a medication epidemic, Pennsylvania is in desperate need of money. Gambling is seen as one such grace that is saving nonetheless it’s not only land-based expansion that’s being targeted.

Online gambling legislation normally loitering in the halls of their state Capitol, and a new study concludes that Pennsylvania stands to experience hundreds of millions of dollars in added revenue should internet casinos go live.

In a white paper titled ‘Pennsylvania on line Gaming Revenue: A Billion-Dollar possibility,’ research analysts recommend roughly $426 million would be how to win on aristocrat pokies directed to Harrisburg from a legalized and managed internet gambling market.

Schippers is an advocate for online gambling. During a legislative hearing on ending iGaming prohibition in Massachusetts this month, Schippers said states should legalize online gambling to ‘protect our organizations’ preventing offshore operators from ‘poaching.’

Penn National Set to Dominate Market with $44 Million Purchase of Two Tunica, Mississippi Casinos

Apparently Penn National did not think three’s an audience since it just closed on a $44 million deal to incorporate two Tunica gambling enterprises to its profile.

The Pennsylvania-based company currently has Hollywood Casino Tunica and will now operate Bally’s Casino Tunica and Resorts Casino Tunica.

Penn National bought Bally’s Casino Tunica and Resorts Casino Tunica fro a reported $44 million and now has three facilities in the area close to the Mississippi River. (Image: SunHerald.com)

It was all right part of a transaction that included the organization’s investment trust purchasing the land the gambling enterprises are on for $82.6 million.

A lease deal was signed involving the two companies that may allow Penn National to use the casinos having a agreement that is rental of9 million per year.

‘The purchase will add two complimentary casinos to the existing Hollywood Casino Tunica operations,’ Penn National President and CEO Timothy J. Wilmott in a statement. ‘Thereby presenting Penn National utilizing the opportunity to take advantage of a centralized regional management structure.’

Capturing More Market Share

Pending approval by the Mississippi Gaming Board, that is anticipated by June, it will be described as a strategic coup for the company and allow them to own a dominating presence into the area.

Resorts Casino Tunica is next-door neighbors with their existing property and has 35,000 square feet, featuring 800 slot devices and nine table games, along with a 201-room resort.

Bally’s Casino Tunica is the prize that is real the agreement. It’s the closest facility into the city to downtown Memphis, Tennessee, simply 34 kilometers away. This has 40,000 square feet and will be offering 947 slot machines and 16 table games, and also a steakhouse, buffet restaurant, 24-hour cafe and entertainment venue that is live.

Gambling on Area Rebounding

The resorts were struck difficult by the recession and had filed bankruptcy and were handed over to creditors. Revenues last year for the two properties were a combined $21 million.

Caesar’s has three resorts within the state which were contained in their bankruptcy filing two years ago.

You can find 16 casinos across the Mississippi River and the Associated Press revealed receipts dropped more than 10 percent to $77 million in February in comparison to $86 million this past year. Two weeks ago two companies had been rejected permits to develop a place in Biloxi and Diamondhead

But officials at Penn National remain optimistic that they are able to thrive into the area. Wilmott said he expects to help with the gambling enterprises to greatly help build profits.

NFL Still In Opposition to Legalizing Sports Betting, Says Goodell

The NFL’s owners could have emphatically approved the Raiders’ proceed to Las Vegas this week, but just in the event anyone was laboring beneath the belief that the league had gone soft on sports betting, its commissioner Roger Goodell felt the need to set them straight on Tuesday.

The NFL’s Roger Goodell insists the integrity associated with game is number 1 but the league has no intention of having its powers to prevent Las Vegas sports publications from taking bets on Raiders games. (Image: The Atlantic)

Ownership remains opposed to legalized activities gambling in the US, he stated, due to concerns about players betting on their games that are own. He did acknowledge, however, that regulated betting in Nevada could be ‘beneficial’ to the sport.

‘I think we nevertheless strongly oppose legalized sports gambling,’ Goodell told reporters at a news conference after owners conferences in Phoenix. ‘The integrity of our game is number one. We will not compromise on that.

‘That is just a major risk he continued for us. ‘I think we must verify that we continue steadily to stay dedicated to making sure that everyone has complete confidence that everything you see regarding the industry is perhaps not influenced by any outside factors.’

70-Year Grudge

The NFL’s distaste for gambling is a hangover through the forties and fifties, as soon as the sport was plagued by match-fixing scandals. The most famous of these came in in 1946 when two New York Giants players, Frank Filchock and Merle Hapes, were bribed to throw the NFL Championship game from the Chicago Bears.

Seventy years is a number of years to hold a grudge, though, and despite Goodell’s assertion to the contrary, there isn’t any doubt there’s been a softening for the league’s stance.

Gambling drives engagement in sports, while the NFL knows only too well through Fantasy Sports Leagues to its association and there is definitely an acceptance that, in the digital age, Las Vegas no more has a monopoly on wagering.

‘ We Might As Well Embrace It’

Into the lead as much as the vote, one AFC owner, who desired to remain anonymous, told MMQB’s Albert Breer that the idea there would be a backlash among owners on the basis of the gambling standpoint was ‘a joke.’

‘ That was an issue decades ago,’ the source said. ‘Now? Sports gambling will probably be legal. We might also embrace it and become part of the solution, rather than fight it. It’s in everyone’s needs because of it to be above-board.’

The NFL’s Regulation 22 allows the league to request the prohibition of bets on games held in Nevada, offered the regulating body writes to your Nevada Gaming Control Board within 1 month before any such game.

When pressed on whether he meant to repeat this, Goodell said the league had no such plans.

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