Deadwood, South Dakota Invites US Attorneys General to Internet Gambling Summit, Legalization Pulse Taken

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New Jersey Casinos See Online And Live Gains In May

 New Jersey Casinos See Online And Live Gains In May

The Golden Nugget has seen huge gains in its online gambling operations over the year that is past.

New Jersey’s online gambling market continues to develop, helping bolster the staying eight casinos still operating in Atlantic City.

But while the general numbers are positive, only a few games and casinos are sharing equally in the fortune.

According to the New Jersey Department of Gaming Enforcement (DGE), online gambling revenues were up to $12.47 million in May.

That represents an increase in excess of 19 % over last might, whenever internet sites earned just $10.47 million.

Online Casinos Up, Poker Down

But that growth has been fueled almost totally by online casinos. In contrast, online poker rooms are struggling. Internet poker introduced slightly below $1.93 million in might, down from $2.27 million in the same month last 12 months.

That figure marks the second-lowest monthly revenue for online poker in nj, with only last November trailing the many month that is recent.

Once responsible for the quarter or more of on line gambling revenues in nj, poker is now just about 15 percent of industry.

In the poker side of things, the 888/World Series of Poker partnership felt many of the damage. The $831,799 they introduced through their Internet poker partnership ended up being a low that is all-time while their only competitor within the state, Borgata/partypoker, held fairly steady.

Holding steady was a theme for the Borgat Continuar lendo New Jersey Casinos See Online And Live Gains In May

Casino Magnate James Packer Says Macau Downturn Worse Than Anybody Imagined

Casino Magnate James Packer Says Macau Downturn Worse Than Anybody Imagined

James Packer (right) with Robert De Niro during the opening of the brand new Nobu Hotel in Manila, Philippines.

James Packer, the Australian billionaire and casino mogul, has admitted that Macau’s economic downturn happens to be ‘more severe’ than any of the gambling hub’s operators could have foreseen.

Packer’s Crown Resorts derives 50 percent of its income from the 34 percent stake in Melco Crown, which owns properties on the Cotai Strip, including the lavish City of Dreams resort.

Just more than a year ago, Macau was declared by Forbes to be one of the globe’s fastest-growing economies, and the spot’s casinos were enjoying bi-monthly revenues equal to that particular of Las Vegas’ yearly haul.

But an unprecedented crackdown on corruption and money laundering by President Xi Jinping’s government on the mainland has halted the success tale and sent revenues tumbling.

Financial Crackdown

The financial crackdown is part of an ongoing anti-corruption drive that has frightened off the high rollers while the junket companies that once accounted for some 60 % of Macau’s revenue.

Tub thumping from Beijing has sent shares in the regions casino companies tumbling. And also this, plus a smoking that is new, increased monetary restrictions imposed on tourists, and a generally speaking weak Asian economy has struck the region hard.

In April gaming that is gross fell 39 per cent, year-on-year, to 19.2 billion Continuar lendo Casino Magnate James Packer Says Macau Downturn Worse Than Anybody Imagined