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GAN Sees ‘Exceptional’ First Quarter Growth
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Sports betting, real-money gaming and Simulated Gaming revenue all hit record levels in the quarter.
Gross operator revenue grew 148.3 percent to $59.1 million over last year and 41.4 percent over the fourth quarter.
NORTON NOTES: Taking a Look at Sports Betting Figures
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By Steve Norton
CEO, Norton Management
There are many US states that are looking at various ways to introduce sports betting to their citizens, and many are considering online gaming bills that might also offer hundreds of in-game and proposition bets available on a single sporting event.
Nevada's experience with sports betting, shows that only about 2% of gaming revenues are from sports wagers and on each $100 bet, the federal government gets 50 cents, the casino earns about $5, and the state 34 cents, leaving the casino just over $4 to cover payroll, marketing, other variable costs, and hopefully end with a profit. But in reality, I think you will find that most Nevada operators like sports betting, because it brings customers into the property where sales and taxes are realized from restaurants, night clubs, accommodations, entertainment, meetings, and yes, even the slots and table games.
Macau Tour, Hotel Visitors Up
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Package tour visitation grew 15.3 percent to 706,000 people, with visitors from Mainland China up 14.0 percent to 529,000 and Hong Kong up 27.7 percent to 17,000.
Through the first two months, visitors on package tours are up 4.3 percent to 1.475 million.
Hotel visitation grew 5 percent to 1.088 million in February with an average occupancy rate of 91.9 percent, up 2.3 percentage points.
NORTON NOTES: My Thoughts on Louisiana Casino Gaming
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By Steve Norton
CEO, Norton Management
Baton Rouge Casino Revenue Drops 19% in February
My comment:
Louisiana needs to consider moving some of their licenses. Even without the smoking ban, Baton Rough should not have had even two licenses. When I worked with the legislature in 1991-92, I had proposed only 10 riverboats, which would have given 3 to Greater New Orleans, and allowed 5 or 6 on the Texas border, and one in Baton Rouge. Catfish Town could have been a wonderful location if a riverboat was not required. Now you have poorly performing riverboat casinos in Baton Rouge and Shreveport Bossier City.