UK Gambling: Casinos Strike a Bad Month Yet Again

Recession felt all across the UK online Gambling Industry
Even Las Vegas is not exempted from the worldwide effects of economic recession! The latest figures show that casino revenues have been steadily decreasing and for the 13th month in the row ending January 13, revenues show a decline of 14.6%. Compared to last year, taxes that are based on casino wins are also down by 42.3%, as reported by the Gaming Control Board. These taxes have always been reliable sources of revenue and so far for this year, revenues are already down by 20.3%.

Comparison of Yearly Gambling Performance Brings Dim Results Still
Frank Streshley, an analyst who works for the Control Board, says that these results show steady decline, as a continuation of our economy’s severest downturn ever. By comparing this January’s figures to that of just a soft month one year ago, the stats show that this is still not the last haul. This means that no matter how down the results are at present, the industry is still not at its lowest so there will still be a steady decline that the Nevada casinos will have to suffer.

Moreover, Streshley informs the Associated Press that this huge drop in taxes is largely attributed to the fact that during January's Chinese New Year online gambling celebration, there was much credit play. Credit repayment in February should produce improvement in terms of tax collections so the next report from the Control Board may be a bit inspiring when it comes out next month.

Total online gambling all over Nevada on a Steady Decline
The Las Vegas Casino Strip is not exempted from this steady decline as well. GCB reports show that the strip is done by 14.8%, and this includes most of the major markets in Nevada. Laughlin, located in Southern Nevada, is also down by 10.3%, while downtown Vegas reports a decline of 22.7%. Down by 15.1%, 23%, and 11.2% were the Mesquite, the Boulder Strip, and Northern Las Vegas respectively.

Northern Nevada, comprised of clubs located in Washoe County and in Reno, is also down by 0.02%, though this is the slightest decline ever reported yet. However, this is already the 19th consecutive month wherein declines have been steady in the area. Lake Tahoe resorts located in the southern Uk gamblingshores also report a decline of 2.7% just for January, compared to that of last year.

The Declining Performance of all Uk Gambling
Slots are currently suffering a breakdown of statewide magnitude, with a decline of 17.5%. Table games, on the other hand, are off by 9.2%, compared to the figures of last year. Of the total win, the slots actually accounted for $579.2 million, which includes the $274.5million win of the multidenomination slots. And yes, this figure is still down by 10.1%. Penny slots, meanwhile, grab the second spot, with a win of just $141.2 million, still down by 0.8%.

Live games, poker included, comprise the January Uk online gambling total’s balance. This includes the baccarat win of $96.2 million, which is up by 17.2%; the blackjack win of $94.1 million, which is down by 11.6%; the craps win of $34.9 million, which is off by 13.7%, and the roulette win of $22.1 million, which is still down by 33.6%.