Online Casino News From Around the Globe

Massachusetts State Lottery Tops Over $1Billion In Profits For First Time
Aug02

Massachusetts State Lottery Tops Over $1Billion In Profits For First Time

The Massachusetts State Lottery has for the for time in its 45 year history managed to surpass the $1 billion mark in net profit for a single fiscal year, according to State Treasurer Deborah Goldberg. This makes it the third consecutive year that the lottery has posted record profits with an increase from the$989.4m previous records in FY16. Lottery sales in FY17 topped $5 billion which was less than FY16’w $5.233 billion. Goldberg was naturally delighted with the results and said,” This is a proud moment for the Lottery. During uncertain times, we were able to increase unrestricted local aid to the cities and towns throughout the Commonwealth. The team achieved these goals by increasing efficiencies and creative utilization of resources, so necessary in an ever changing environment.” Even more impressive was the money that the Lottery spent on administration which was less than 2 percent of overall revenues. This $97.4 million is the lowest out of any U.S. lottery. In terms of prizes the Lottery awarded an estimated $3.668 billion in Fy17. The Massachusetts Lottery has the highest payout percentage out of any lottery in the U.S. The main revenues maker was Instant Tickets that made an estimated 43.5 billion in sales. This is high but is less than the $3.615 in FY16. KENO sales reported an record high with estimated sales coming in at $915 million which was a 1.1% increase from...

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Macau Gaming Revenues Continue Drop With 34.5% Decline In July
Aug02

Macau Gaming Revenues Continue Drop With 34.5% Decline In July

The continuing anti-corruption campaign in the world’s largest casino hub Macau is continuing to be felt by casino operators. The Macau government has released the figures for July which show a 34.5% drop in July gaming revenues from the same period last year. The drop was slightly better than the forecasted 36 percent which analysts had forecasted. Gaming revenues fell to $2.3 billion as the once full VIP rooms are not seeing the high rollers who not along were a frequent fixture. Beijing’s intensifying crackdown on corruption led by President Xi Jinping has got gaming analysts pessimistic as to when we will see the light at the end of the tunnel. Union Gaming research analyst Grant Govertsen went on to say, “This anticorruption crackdown in China is much more widespread and deeper than the VIP community had anticipated and as a result there could be prolonged weakness in the market.” The major casino stocks like Sands China, Wynn Macau, Galaxy Entertainment, SJM Holdings, Melco Entertainment and MGM China have all been hit hard with stocks falling between 10 percent and 28 percent. Macau is still heavily reliant on gaming revenues and secretary for Economy and Finance, Lionel Leong has gone on record to say that should the situation deteriorate further he would look into implementing austerity...

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More Problematic Gamblers Self Excluding Themselves From Betting Shops
Dec06

More Problematic Gamblers Self Excluding Themselves From Betting Shops

As we reported last week the UK bookmakers are fighting for public opinion when it comes to fixed odds betting terminals. The issue of FOBTs has become a hot political potato as local councils seek to minimize the social costs of gambling addicts. The bookmakers themselves are funding research which they claim is aimed at exposing the truth of the impact FOBTs actually have. Some more interesting figures were released by bookmakers regarding the amount of people who are voluntarily banning themselves form betting shops. According to figures supplied by the Gambling Commission the amount of people that requested to be self-excluded from betting shops between the period of April 2013 and March 2014 rose to 24,427. This is an increase from the 16,312 for the period between 2009-2010. While this data has been hailed by bookmakers as a sign that their staff were successful in preventing addiction, critics point out that the industry needs to address gambling addiction before it becomes a major problem. This is supported by the fact that there were 19,589 incidences of so called self-excluded gamblers attempting or actually gambling. Voices like those of the Campaign for Fairer Gambling point out that self-exclusion only occurs after gambling has turned into a huge problem for someone.” They believe that betting industry has to “address the cause of the problem and not the...

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UK Gambling Commission Releases Latest Industry Statistics
Nov27

UK Gambling Commission Releases Latest Industry Statistics

As one of the most regulated and efficient gambling markets, the UK is always interesting to monitor in terms of statistics. The UK Gambling Commission has just released substantial data covering the five year period between April 01, 2009 to March 31, 2014. All in all the regulated British gambling industry generated a gross gambling yield (GGY) of over £6.8 billion for the period between April 2013 and March 2014 which is a 6 percent increase compared to the period of April 2012 to March 2013. The largest market with a 47% share of the GGY was the non-remote betting sector. This was followed by the British regulated remote sector with 17 percent and the casino sector with 16 percent. GGY increases across all sectors for the period between April 2013 and March 2014 from the previous year. The only exception was that of bingo. The argument over how many jobs will be created with more casinos built is always a hot topic. Over 102,715 people were employed across the industry which is a drop of 5,357 from the previous reporting period. GGY for B2 machines showed an increase of 1% to reach £1.56 billion on the figure from the previous reporting period. The National Lottery reported sales of £6.7 billion for the period of April 2013 to March 2014. In terms of people attending casinos, total GB casino attendance has been the largest growth with London based casinos increasing from 3.58 million in April 2009-March 2010 to 6.47 million in April 2013 – March...

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Macau Gaming Revenues Decline For Third Consecutive Month
Sep01

Macau Gaming Revenues Decline For Third Consecutive Month

Despite forecasts that gambling revenues would decline in Macau, the latest figures are a worrying indicator. Not since 2009 have monthly revenues in the largest gambling hub in the world reached such lows. While analysts expected August revenues to fall between 2-6 percent the final figures showed a 6.1 percent drop in August. This was attributed to an aggressive government campaign against corruption as well as declining house prices which kept VIP customers shying away from Macau. All in all gambling revenues from Macau’s 35 casino dropped to 28.9 billion patacas in August ($3.6 billion) from 30.7 billion patacas from the same period last year. Macau remains the global gambling hub with over $45 billion on revenues in 2013. Macau is still the benchmark in performance when it comes to gambling and it is a source of inspiration for many of its neighbors like Japan, Singapore and Mongolia who are looking to emulate Macau’s success story. Asia as a whole is seen as the largest market for growth by many like casino mogul Sheldon Adelson who was recently quoted as saying,” Forget Las Vegas and think Asia” at the annual shareholder’s meeting of the Las Vegas Sands Corp. earlier this...

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