Online Casino Edition – Casino News News about online casinos and gambling

August 26, 2012

Tropicana Las Vegas Sees Quarterly Revenue Boost

Filed under: Casino — Tags: , — OCE News @ 1:57 am

The Tropicana Las Vegas hotel, is one of the few hotels that his reporting a large boost in their revenue this year. With more than 1300 rooms on the property, the company has stated that their revenue grew $1 million from $24.4 million to $25.4 million, and the company was also able to cut down on their net loss from $9.4 million down to $6 million.

The company stated that they believed that the large gain was due to a 7% overall increase in revenue that came from the casino, on a year-to-year basis. The company also saw as much as a 20% increase in the amount of revenue that was generated from their hotel rooms and hotel related activities. However, there were some downsides to the announcements as well. The company also announced that their food and beverage revenue fell 13% to a total of $6.6 million. However, things are looking up because the company does have a number of activities planned in the coming months that should help to boost their overall food and beverage revenues.

The hotel room occupancy stayed fairly flat for the company, right around 93% overall. The daily rate for rooms jumped $13 over the previous year to $79, which helped them to increase their revenue in this portion.

The Tropicana is one of only a few hotels that has seen increased revenues since the financial collapse of 2008, which crippled some of the larger casinos throughout the area. Since that time, casinos have only hoped to make small improvements in their overall revenues, while still taking heavy losses, in hopes of being able to turn it around when the economy begins to turn around and Vegas begins to see more tourism.

Despite all of the troubles that casinos and other gambling institutions have had as of late, it appears that a number of companies have been able to trudge through these problems, including the Tropicana which continues to see increases in revenue in various aspects of their business. Their overall revenue has also increased, making the Tropicana one of the most successful Las Vegas casinos in recent years.

August 24, 2012

Casino Holdings and ATM Provider Announces Internet Gambling Alliance

Filed under: Casino — Tags: , — OCE News @ 1:56 am

Las Vegas holdings supplier, Global Cash Access Holdings Inc. announced on Tuesday that they would be joining the Internet gambling alliance.it is a fast growing, alliance of individuals that are for Internet gambling, and has becomequite a popular phenomenon on social media.the company is most known for operating the ATMs that are in many casinos throughout Las Vegas,and also offer a number of gambling related credit products.they have sign their letter of intent with Live Gamer, which is a company that has developed a combined e-commerce and advertising platform. Based in New York,the company works with a number of largeInternet companies including Facebook and Sony. It was stated that the move was made in an effort to prepare the company for the upcoming launch of statewideonline gambling programs. These programs are slated to first launch in Nevada, but are expected to launch another stage shortly after.

We don’t know where Internet wagering is going to go. And we don’t know who the players will be long term,” said Global Cash Access CEO Scott Betts.

He also went on to say that he hoped the arrangement would be a fruitful one for all parties involved, in an effort to make real money poker real success for all states. Internet wagering is something that has been a source of contention for many years. In 2010, many poker sites were shut down on a global crackdown on online gambling. Since that time, it is unclear that there is some interest in online poker, but it will likely have to be run by the states if it is going to be approved by any government source.

The company is likely going to play an integral part in the money loading technologies that these websites employ. Their goal, as they have stated, is to create an end-to-end solution that allows users to get their funds to whatever gambling site they will be using, without hassle.

It is clear that the company is looking to position themselves as the key supplier of online funds online, in the same way that they have offline.

August 22, 2012

South Point Ownership Receives Permission for Online Poker

Filed under: Casino — Tags: , , — OCE News @ 1:55 am

Michael Gaughan, the owner of South Point, has received permission to continue with its plans to open a real money interstate online poker website. Online gaming is received a lot of increased attention over the course of the last few years, and continues to be a point of contention for many individuals. Gaughan has been attempting to receive permission for several years, and was finally able to do so on Wednesday, August 8. His bid had been recommended by the State Gaming Control Board, which is located in the Carson City area.

His bid will receive full consideration on August 20 by the Nevada gaming commission. A number of slot machine game manufacturers have Artie received state approval in order to begin offering interactive online gaming services to consumers. He is going to be able to offer a physical casino, that allows users to operate a real money online casino from within the premises.

Online gambling is been a source of hot contention throughout Nevada, leaving many to wonder if the state would be open to such requests. However, after going through much technical and regulatory approval, they have allowed him to go ahead with his bid, which will be under consideration on August 23.

The bid was approved by a three-member control Board, that unanimously approved the decision. Partially affected by the decision was the fact that Gaughan is a revered member of the gambling community throughout Las Vegas, and as they may stable gaming licensee for many years.

The online gambling poker system is going to have a number of safeguards in place to ensure that anyone that plays the system is at least 21 years old. They also have to be located in Nevada, and cannot be involved in any sort of criminal activity while using the service. Also, the site is going to allow individuals to take themselves out of the wagering pool, and allow them to play without gambling money. It is thought that this system will allow them to install other safeguards for problem gambling in the future as well.

The online poker system and is ready to launch, pending approval on August 23, and it will be interesting to see how quickly they can get it up and available to Nevada residents throughout the state.

August 20, 2012

Strip and Nevada Statewide Casino Win Falls in June

Filed under: Casino — Tags: , — OCE News @ 1:55 am

The gambling win in both the Las Vegas strip, as well as statewide throughout Nevada, Ella total of 4.5% throughout June. Statewide,it was a total of a 6% drop off overall. This was compared to the same month, one year ago.this comes directly after a total of 18.1% drop on the Las Vegas strip throughout May.

For the fiscal year, which ended for the Las Vegas strip on June 30, the total win for the strip was flat, with a total jump of less than 0.6% overall. Most casinos to route the state, it posted lower winnings, throughout all of Clark County. In northern Las Vegas, in the Laughlin area, winnings were down by more than 20% for the month.

By all accounts, the quarter could have gone much better for all casinos, and there were very few bright spots to be happy about overall. The one bright spot, was to strip roulette winnings, which were a total of 33%. Sports betting also did well, and saw a large increase, but was not enough to turn the situation around as a whole. Blackjack fell more than 4.8% overall, with craps tumbling more than 21% and total gambling win.

Throughout the state, the gambling win for the fiscal year was 10.7 billion, which was up more than half of a percentage point. Although this gain is not a lot, any positive improvement is definitely something that the casinos are going to be happy about, since they have endured such a hard last few years. In all, the winnings from the casinos generated more than $38.2 million in tax revenue based on the June businesses, which was more than a 25% decline over the previous year. It is clear that dips in earnings as deep as this, not only negatively affect the casinos, but are going to drastically impact the tax revenue for the state as well.

August 18, 2012

Stratosphere 2nd Quarter Business Unimpressive

Filed under: Casino — Tags: — OCE News @ 1:53 am

The Stratosphere has reported a flat second quarter of business. The owner of the stratosphere released a statement in Las Vegas, on Thursday, stating that they had had a completely flat second quarter of business. The property, owned by the American Casino & Entertain Properties LLC, which owns two local casinos in the area as well, reported losses of $2.8 million during the second quarter of June, which ended for the company on June 30. That was the same amount of losses that the company took in the second quarter of 2001, resulting in the flat analysis of the situation. Revenue was up by a total of $100,000 to a total of $87.7 million for the company. The company also saw some key performance metrics fall as well.

These metrics included the EBITDA, a performance metric that is used to measure the effectiveness of casinos. This number fell from $18.2 million to a total of $16.1 million. This is a result of an increase in expenses. The EBITDA takes earnings before interest, taxes, depreciation, and other factors into account when it is ranking the casinos. The hotel also saw their occupancy stayed flat at a 91.7% occupancy mark. This was the same number that the company saw in the second quarter of 2001, as well as in 2002, which goes to show the kind of longevity that the Stratosphere has. They also saw revenue from their tower rides, and attractions while a total of 5.1% when both quarters are compared.

The company cited a weakness in consumer sentiment, followed by a decrease in spending, as one of the main reasons why the company has seen dips over the course of recent months.

Despite these poor showings, the casino did manage to boost their revenue and number of different areas. One area, saw boost of 0.5% revenue to a total of $40.1 million in net revenue, as well as a 4.1% increase in hotel revenue. However, the casino still watches on as its gaming profit and revenue fall sharply.

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