Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving

Atlantic City Casino Revenue Shows Signs of Stabilizing, Online Gambling Thriving

The financial crash in Atlantic City has seemed to bottom down at the very least for the casinos, as revenues for the rest of the gambling resorts are 3.1 percent higher than they certainly were at this time final year.

Atlantic City casinos could have finally weathered the storm and begun to stabilize the gambling industry for the eight resorts that are remaining. After ten years of decreasing profits due to America’s Great Recession and neighboring states pushing gambling legislation in response to abating tax bases, Atlantic City has appeared to reach a norm that is new.

Less than 2 yrs after one-fourth of its casinos went away from company, profits for Atlantic City reduced only marginally in March. The area’s casino win totaled $187,463,591 for the 1.7 loss that is percent though when online gambling is included Atlantic City fell just 0.4 percent.

Traditional table gaming was the performer that is worst in March as casinos reported a 5.9 percent drop on supposedly higher win rates. The decline had been offset by online video gaming, which rose an astonishing 17.8 percent during the month.

Calm After the Storm

Although the municipality in Atlantic City is broke and currently engaged in a bitter debate with Governor Chris Christie (R) and State Senate President Stephen Sweeney (D) over who is better to manage the town’s data recovery, 2016 is off to a good begin for the casinos.

Gambling (suite…)

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Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close

Delaware Brick-and-Mortar Casino Sector Advisory Board Holds State’s Fate, While Keeping Cards Close

The Delaware land-based casino sector has been struck hard by increased competition from brand new markets in neighboring states, as the more recent and shinier casinos of Pennsylvania and Maryland outperform its three struggling, and highly taxed, racinos.

Dover Downs is Delaware’s biggest and only publicly traded racino, but high domestic taxes and increased competition across the state line means hard times for the home while the state’s two other racinos.

The sector, which comprises Harrington Raceway, Dover Downs, and Delaware Park, peaked in 2006, the 12 months Pennsylvania began issuing its very first casino licenses, when slot revenues hit more than $650 million. By 2016, slots and table revenues combined had plunged to $398 million.

Meanwhile, outfall from the new MGM nationwide Harbor, which exposed in Maryland year that is late last stands poised to be the final nail in the coffin. That property caused other casinos in Maryland and West Virginia to ramp up their own marketing drives, drawing even more customers away from Delaware’s ailing properties.

The three racinos cannot compete because they pay higher state taxes than their counterparts across the border, and they are begging legislators for help.

Taxed Out of the Market

This the Delaware’s Video Lottery Advisory Council (VLAC) met to discuss the status of Diamond State’s three casinos week. The council is ta (suite…)

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DraftKings and FanDuel consent with NCAA to Suspend Amateur and College Sports Contests

DraftKings and FanDuel consent with NCAA to Suspend Amateur and College Sports Contests

No more March Madness: DraftKings and FanDuel have actually agreed to suspend the offering of DFS contests on NCAA games.

Although the 2016 Men’s NCAA National Championship ended in spellbinding drama last night and Kris Jenkins’ sizzling, match-winning shot in the last micro-second associated with the blew our tiny little minds, this will be probably the this past year ever that fans will be able to ramp up the enjoyment of March Madness through DFS contests.

Both DraftKings and FanDuel have voluntarily agreed this week to close the drafts on college-level and amateur sports. This follows just what a FanDuel spokesperson called ‘months of productive conversations’ with the NCAA, in addition to state legislators, during which both organizations heard their concerns about the effect of dream activities on college-level and athletics that are amateur.

Both Indiana and Virginia, which in 2010 became the first states to regulate DFS in the US, included provisions inside their legislation that the contests should not be based on college competitions.

‘It is obvious that this is an issue that issues to a number of constituencies and we feel that the best path forward is to suspend offering these contests pending resolution in the problem within state legislatures,’ said FanDuel.

‘We supported all of these efforts, and going ahead we are going to actively support bills containing the same (suite…)

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Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble

Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble

Just like online product sales for common goods have forced many brick-and-mortar stores to close, it appears the more ‘punters’ in the UK bet online, the less they bet in old-fashioned bookmaking shops.

Online successes felt from the merger that created Ladbrokes Coral haven’t fully offset the losses expected at retail betting shops across London and the UK.

Ladbrokes Coral’s income from digital operations climbed 17 % in the half that is first of, with sports wagering revenues up 25 %, in line with the FTSE 250 company’s latest public financial reports, released on Thursday.

The general amount wagered online on sports grew by 27 percent, while revenues from games such as online roulette showed an 11 percent increase. Profits from land-based operations, meanwhile, slipped six percent, while the total amount bet in these shops on like-for-like offerings declined seven percent.

Coming FOBT Crunch

The boost that is online total income inch up by one percent compared to last year, but figures for retail betting make for grimmer reading. And with regulations on fixed-odds betting terminals expected to be tightened soon carrying out a federal government revue, likelihood of a rebound that is retail slim.

Some politicians have called for the odds on FOBTs to be cut from £100 ($131) a spin to £2 ($2.61), a move that the bookmaking industry has warned would lead to the loss of 20,000 jobs, and lead to clo (suite…)

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Casino News: WH Layoffs, Jackpot Win, Robbery

Casino News: WH Layoffs, Jackpot Win, Robbery

This week’s casino headlines deliver a combination of very good news and bad news. We’ll focus on the news that is bad William Hill is defined to produce some big layoffs within the great britain.

Massive Layoffs Expected At William Hill After Closure Of 700 Betting Shops

It’s taken a time that is long online gaming to overtake the land-based variation, but this week, we saw a large indicator of the current times.

Massive layoffs are expected in britain after William Hill’s decision to shut 700 betting shops across the country. The move comes after the UK government, under Theresa May, decided to cut back the spread of Fixed Odds Betting terminals. As result of this book closures, more than 4,500 jobs are expected to be lost in total. The wagering terminals, which critics have dubbed the ‘crack cocaine’ of gambling, had led to a boom in the number of shops on British high streets. However, with an original bet that is maximum of euros per play, there had been concerns that players were kept much too vulnerable to losing large amounts of money when using the terminals.

The other issue is that online sports betting is much more easily available and accessible. Visiting a shop that is land-based place bets felt a bit archaic.

The betting shop employees’ union Community called your decision by William Hill ‘devastating news’ for the business’s employees. Meanwhile, the critics that campaigned in favour of book closures welcomed the (suite…)

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Brazilian Becomes UK Ireland Poker Tour Edinburgh Champion

Brazilian Becomes UK Ireland Poker Tour Edinburgh Champion

The Title associated with the 2013 UK Ireland Poker Tour Edinburgh Champion went to Brazilian-born Nicolau Villa-Lobos who walked away with the name and the lion share for the prize-pool, pocketing £101,000 for first destination.

Starting the final dining table with all the chip stack that is lowest at 313,000 chips, Villa-Lobos was at fact odds on favourite to complete in eighth place. Nonetheless, the skilled Brazilian fended off the competition to create home the coveted titled from the Scottish capital after doubling their chip count in the first ten minutes of the final table commencing play.

Chris Derrick was the man who doubled Villa-Lobos’ chip stack after pushing in 285,000 chips, only to be beaten by the Brazilian’s pocket fours which had turned into quads by the river.

Shortly afterwards, Christian Bergstrom was eliminated during a call that is three-way Vladislav Donchev and Villa-Lobos. The chip that is high active in the call threw Villa-Lobos up to 1,600,000 chips, offering him the confidence he needed to set his places on the UK Ireland Poker Tour Edinburgh title after starting therefore low on the board.

Seventh place later went to Guido Braye after being knocked away by the hometown player, David Vamplew. This elimination shot Vamplew in to the position of chip leader as he impressed his home support and raised hopes to become the hometown hero.

Vamplew then continued to push forward, causing (suite…)

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Poker News: WSOP Champ, Ivey Woes, Arizona Poker

Poker News: WSOP Champ, Ivey Woes, Arizona Poker

This week’s poker news provides the final notes from the World Series of Poker, including a recap of the big winner. We will start there as we do our weekly round of the poker headlines:

Ensan Captures Germany’s 2nd World Series of Poker Main Event Title

The 2019 World Series of Poker has come up to a summary at the Rio Casino. Germany’s Hossein Ensan has won the event that is main crown jewel of the tournament series and earned the most sought-after prize in poker. In the process, Ensan secured Germany’s second ever WSOP main occasion name, becoming the oldest main event championship since Noel Furlong won it back in 1999.

Ensan, who’s 50 years of age, took house a massive $10 million first-place award with the triumph. He could be initial German main event champion since Plus Heinz won a championship back 2011. In addition to the cash that is incredible, Ensan earned 3,300 Card Player Player of the Year points. Ensan wasn’t the only big winner from this event. Each associated with the top nine finishers took home at least $1 million in prize cash, including runner-up finisher Dario Sammartino, who won $6 million.

Ivey Handed $10.13 Million Judgment From Borgata

Poker and gambling professional Phil Ivey is in big trouble following the decision that is latest against him by the Nevada courts. New Jersey’s Borgata Hotel Casino & Spa was given the light that is green a judge to pursue any assets that Ivey might own in his sta (suite…)

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