Nevada casinos posted profits in fiscal 2016, the first time the industry has been in positive territory since before the Great Recession. This week, the Nevada Gaming Control Board released their annual Nevada Gaming Abstract, which showed the 273 gaming venues that earned more than $1m in revenue in the 12 months ending June 30, 2016 generated a combined income of $979m versus a net loss of $662m in fiscal 2015. Overall revenue at state-licensed gaming venues reached $25.2b, up from $24.6b in fiscal 2015, and only around $100m off the all-time peak of $25.3b in fiscal 2007. Casinos also…

NetEnt has cited a continued growing demand for digital casino entertainment and its products as amongst the main reasons behind widespread year-on-year financial growth across the business during the 12 months through to December 31, 2015. Full-year revenue amounted to SEK1.1 billion (€119.5 million/$134.9 million), which represents an increase of 33% on the SEK851.7 million achieved in the previous year. Operating profit hiked 53.5% year-on-year to SEK401.6 million, while operating margin increased from 30.7% to 35.5%. Elsewhere, profit after tax increased by 53.8% to SEK374 million, with earnings per share also jumping from SEK6.09 to SEK9.34 after dilution. Other key…

Sin City made huge successes of the casino resorts operated by companies such as Las Vegas Sands and MGM Resorts. However, for the last five years gaming in Asia, rather than U.S. operations, have lifted these companies’ profits. But with 2014 profits in Las Vegas on the rise, is Sin City on the way back? Following the 2008 financial crisis, Las Vegas profits dropped as American gamblers spent less on leisure travel and non essentials like gambling. At the same time, Macau profits started surging as the Cotai strip there opened and Las Vegas Sands dominated the Cotai Strip with the…

CNBC – As another casino in Atlantic City, N.J., plans to close its doors, some believe allowing sports betting could help invigorate a struggling industry. Most states don’t allow wagers on sporting events, thanks to a federal ban. In Nevada, where sports gambling is legal, it accounts for $4.25 million of the $11.2 billion in statewide gaming revenues. ““Sports betting unregulated is a debacle. It’s horrible because it puts money into the wrong people’s hands,” said Bill Pascrell III of Princeton Public Affairs Group. “Why should Nevada and Delaware have a monopoly? … It’s a state’s rights issue,” he said…

Hellenic Gaming Commission Executive President, Evgenios Giannakopoulos, stated that the amount of money gained from illegal Greek gambling exceeds the amount of money made from the country’s legal market. The Greek legal gaming market’s profits has shown a decline of about 35 percent from 2009 to 2013, dropping from 8.7 billion euros to 5.5 billions respectively. A decline was also recorded in gross profits where 1.5 billion euros were made in 2013 compared to 2.5 billion in 2009. Official data released by the Greek Commission for the Supervision and Control of Games (EEEP) has shown that profits from 60,000 to…

Poker News – 888 Holdings, the parent company of 888poker, recently announced record breaking revenue and pre-tax earnings for the financial year ending December 31, 2013. The company’s revenue increased by 7% from $375.8 million in 2012 to $400.5 million in 2013 thanks to a 7% increase in poker revenues ($87.5 million to $93.6 million) and a 15% increase in casino revenues ($165.5 million to $190.4 million). These substantial year-over-year increases more than offset a 16% decline in bingo revenue ($51.8 million to $43.7 million) to achieve record breaking revenue to the company. The company’s profit before tax increased by…