Nevada - March Gaming Numbers Dip Monthly Gaming Control Board report LAS VEGAS (AP) — State officials say Nevada gambling revenue was down 3 percent in March compared with the same month a year ago due to lower winnings in the Las Vegas area. The Nevada Gaming Control Board said Thursday that the state’s casinos won $951 million in March. Revenue fell in the areas with the most gambling activity. Las Vegas Strip gambling revenue was down 4 percent to $487 million last month, and downtown Las Vegas was down 4 percent to $51 million. The picture was rosier in the north. Reno casino revenue was up 1 percent to $47 million, and South Lake Tahoe revenue was up 23 percent to $17 million in March. The state collected almost $73 million in tax money based off the winnings, which is down 8 percent from the same time last year. http://lasvegas.cbslocal.com/2016/04/28/march-gaming-numbers-dip/
Macau gambling revenue falls 9.5 pct in April, 23rd month of decline HONG KONG, May 1 (Reuters) - Macau, the world's biggest casino hub, posted a drop of 9.5 percent in gambling revenue for April, with the pace of decline decreasing from the previous month as the southern Chinese territory struggled to lure high-spending punters. April marked the 23rd consecutive monthly decline for the former Portuguese colony, where revenue has halved over the last two years and hit lows not seen in over five years. http://finance.yahoo.com/news/macau-gambling-revenue-falls-9-063717219.html
Casino stocks pop as Macau gambling revenue falls less than feared A number of casino stocks, including Wynn Resorts, Las Vegas Sandsand MGM Resorts, rose on Monday amid positive news from the much-maligned Macau gambling scene. Macau, the world's biggest casino hub, posted a drop of 9.5 percent in gambling revenue for April, to about $2.17 billion, the 23rd consecutive monthly decline for the former Portuguese colony. That said, the decline was less than feared. Shares of Wynn popped more than 5.5 percent in late-morning trading Monday, while Las Vegas Sands and MGM resorts gained about 4 percent and 2 percent, respectivemarkingly. http://www.cnbc.com/2016/05/02/casi...adline|headline|story&par=yahoo&doc=103597447
Food for thought: If the five year plan below is successful the Big 4 will soar. I will post more about the Oakland raiders later in regard to them moving to Vegas. That would be big catalyst should it happen Five-Year plan introduced to transform Macau into world center for tourism and leisure Marie Kelley April 27, 2016 Latest Casino and Gambling News, Macau The future of Macau is being considered by government officials, with a new guiding tool having been introduced yesterday. The new Five-Year Development Plan for Macau was revealed by the government during a press conference and includes social and economic goals for Macau, to cover the time frame of 2016 until 2020. The goal of the five-year plan is to transform Macau into a world center in regards to tourism and leisure. The public consultation phase of the plan begin yesterday as a presentation took place via press conference at the headquarters of the government. This is the first time a five-year plan has been created and was done so by the Committee for Development of the World Centre for Tourism and Leisure. This task force was created by the Chief Executive to help transform the city in regards to tourism and leisure. During the presentation, Lao Pun Lap, the Macau SAR Policy Research Office Coordinator, stated that the plan consists of four major topics: Strategies, People’s Life, Development and Good Governance. The intention is to create a new image of ‘cultural Macau’. This will be done in the hopes of elevating the competitiveness of the city and implement a strategy of prosperity via education. The gaming sector is not mentioned specifically in the new plan, however, the gaming sector relies heavily on mainland China tourists as traffic to gaming venues. With the new policy, the plan is to bring in more visitors from further regions, which would be of benefit to the gambling industry. https://news.worldcasinodirectory.c...to-world-center-for-tourism-and-leisure-26316
Gaming mixed but mostly down except for MPEL that had a earnings beat. Prices should head higher if the market can recover
It may be time to put your chips down on Vegas Gaming. The new T-Mobile Arena will add to the visitation and may have more benefit for MGM but will boost WYNN, LVS and the other local casinos, like BYD.. If the move of the Oakland Raiders to Vegas happens they will have to add more rooms and a increase in share prices would be in store. As a local I see new construction taking place all over the valley. Vegas visitation was up from 3,624,587 to 3,730,413 in March (2.9%) or 3.5% YOY for March T-Mobile Arena is the new destination in Las Vegas for live events. The arena is a joint venture between AEG and MGM Resorts International. The first event will be tonight with CANELO VS. KHAN http://www.t-mobilearena.com/ UPCOMING EVENTS http://www.t-mobilearena.com/events/all Las Vegas Raiders? Owner Mark Davis serious about move to Sin City http://espn.go.com/blog/oakland-rai...ner-mark-davis-serious-about-move-to-sin-city
SALT 2016: Canyon Capital's Friedman Bullish on Las Vegas, MGM, Caesars http://www.thestreet.com/story/1356...vegas-mgm-caesars.html?puc=yahoo&cm_ven=YAHOO Trade extends bet on Las Vegas Sands http://finance.yahoo.com/news/trade-extends-bet-las-vegas-121442903.html Pinnacle Entertainment beats 1Q profit forecasts http://finance.yahoo.com/news/pinnacle-entertainment-beats-1q-profit-123056002.html
I'm interested in the football side of this. Would the Raiders be counting on tourists (opposing team fans?) to come to town to watch a football game?
Football has always been big in Vegas witnessed by people lining up at the sports book's. Fans and tourists alike flood Vegas during the Super Bowl. The locals have always been supportive of non-pro sports. It would be a destination for fans from the Bay Area, Los Angeles, Phoenix and all over the West.
I am still trying to find out why MPEL is up today with the markets down. With high short interest it would usually be down. MGM is up a little but I don't see any correlation with WYNN and LVS taking a hit,
This article is a little mis-leading as Gaming has put people to work but building the non-gaming tourism is good for all Gaming has too much influence on Macau brand: govt http://www.ggrasia.com/gaming-has-too-much-influence-on-macau-brand-govt/
I noticed interest in the Big 4 during pre-market and good to see them making a rebound 2 days running
Macau 1Q GDP down 13 pct on lower gaming revenue http://www.ggrasia.com/macau-1q-gdp-down-13-pct-on-lower-gaming-revenue/ You would think this would pressure the Big 4 down but expectations of a recovery are still in tact
With mixed results the Big 4 holding good with the markets down May GGR falls 9.6 pct yr-on-yr in Macau: govt http://www.ggrasia.com/may-ggr-falls-9-6-pct-yr-on-yr-in-macau-govt/
