The US state of Nevada has posted its 20th month in a row with revenues exceeding a billion dollars. October saw a take of $1.28b with at least two broken records in the process.

During and after the great recession but prior to the world health emergency, Macau was the world’s gambling mecca that consistently set new records while the original favorite gambling destination, Las Vegas, struggled. Covid was not the only “force of nature” that changed the balance – the Chinese government began a crackdown on “corruption” a few years ago that saw high rollers avoid some of the invitation-only gambling rooms of Macau.

The tables have turned for US interests, and the final analysis largely comes down to VIP players versus mass gaming customers. VIPs, via the junket market in Australia, have also dropped their contributions to local coffers with Crown Resorts posting a $945 million loss for its fiscal year ending June 20 – the first full financial results since Blackstone bought the former Packer property while it was under investigation for money laundering crimes and other reporting failures.

Slots Drive Largest Gains

Nevada gaming revenue was up 4.9 percent over October numbers from last year and 2.4% higher than the previous month this year.

Slots were the biggest money maker with monthly revenue of $877.3m for October, up more than 10% over last year’s October numbers.

Table game numbers dropped slightly year on year with blackjack largely outstripping baccarat and craps.

Sports betting revenues were up nearly 18% with mobile (app) sports bets accounting for nearly half the action at $27.4m of the total of $56.9m total take. A good part of the sports revenue came from the new football season that started in September.

Downtown casinos took in more money in October than any month in history with gross gaming revenues of $90.4m, a 19% increase and beating the previous record of $86.4m that was set in March 2022. The Downtown take has increased by 6.1% so far this year.

The Strip cooled a bit from approaching records with a little over one-half of a one percent increase month to month but still more than 30% higher than pre-pandemic numbers for October 2019.

Baccarat Numbers Down

Michael Lawton, the senior economic analyst for the Nevada Gaming Control Board, said the stagnant numbers for the Strip were down to a normalization of poker revenues due to the World Series of Poker event being held in the summer this year rather than in the fall – and – owing to a significant drop in baccarat revenues as well as lower returns from other table games.

“The Las Vegas Strip was flat due to game and table win decreasing primarily due to lower baccarat win totals as a result of lower volumes and hold,” Lawton said. “Additionally, poker was down significantly due to the World Series of Poker being held last October compared to June and July this year.”

“The Strip continued to benefit from another incredibly strong sports and entertainment calendar, which included concerts, residencies and three high-profile sporting events,” Lawton said.

In the month of October, Eddie Vedder, Usher, Van Morrison, and Panic at the Disco performed while other crowd pleasers included two home games for the Las Vegas Raiders and NASCAR with the South Point 400.

Source: The Las Vegas Review Journal, Record Downtown Las Vegas gaming win lifts Nevada, November 29, 2022

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Three men questioned

Former Celtic and Scotland striker Leigh Griffiths has been questioned as part of a sports betting investigation. Police talked to the 32-year-old on Thursday morning and searched his home in Lanarkshire. He was then brought to a police station in Glasgow and subsequently released without receiving any charges.

the arrest of two others who have involvement in Scottish football

Police searched other properties as part of the investigation, leading to the arrest of two others who have involvement in Scottish football. One of those arrested is a 35-year-old midfielder who is still playing in the Scottish Championship, while the other was a former player who is now an assistant manager at a Scottish Junior team. According to a spokesperson for Police Scotland, each of the men was released without charges pending additional inquiries.

Heavy police presence

The search at Griffith’s home took two and a half hours and involved over ten officers. The detached property is currently up for sale and is valued at £675,000 ($828,360).

Leigh Griffiths played 261 games for Celtic over an eight-year stint at the club, scoring 123 goals in that time. He also played for Wolverhampton Wanderers, Livingston, and Hibs, among others, and appeared 22 times for the Scotland national team, and scoring four times. He is currently without a club, but there have been rumors in recent days that he could be set to return to Celtic on a short-term deal.

Neighbors told local media that there was a heavy police presense and they were not discreet at all.

“The street was full of police cars and a van. They were inside the house and searching the cars in the driveway. It was still dark and the police were using torches (flashlights),” a neighbor told the Daily Record.

“It was chaotic. They were still there when people were going to work.”

Griffiths has denied any wrongdoing, but he did not reveal any details of the discussions he had with the authorities.

Latest footballer in hot water

Griffiths is not the only footballer to be under scrutiny as part of a sports betting investigation. Numerous players have gotten in trouble over the years for their involvement in various types of betting activity.

There are very strict rules in place across the UK that prohibit soccer players from betting on games or passing on inside information to others to subsequently place wagers.

One of the most recently notable instances involves Brentford striker Ivan Toney. The Football Association (FA) in England has accused the 26-year-old of committing 232 gambling offenses over a four-year period. He was on the brink of making England’s World Cup squad when the revelations came to light. It is unclear what punishment he can expect to receive.

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New York sports betting bill

A New York state Senator wants his state to implement regulations for “predatory” sportsbook bonuses via new legislation.

restriction on the language used to advertise

Senator Pete Harckham (D-South Salem) is the man heading the effort, introducing Senate Bill S9605 last week. The bill calls for restriction on the language used to advertise “risk-free” bets, “profit boosts,” and other terms that downplay the risk factor of gambling.

If passed, it would open a new section in the Big Apple’s racing, pari-mutuel wagering and breeding law and require the New York State Gaming Commission (NYSGC) to outline more exclusive verbiage.

Evidence of harmful language

Harckham referenced findings from a series of articles in The New York Times on the sports betting industry in his proposal. His focus centered on the manners that sportsbooks go about acquiring and retaining customers.

fall susceptible to gambling addiction that could have otherwise been avoided”

“The mobile sports betting industry is utilizing targeted advertising that is personally tailored to lure in new customers from right within their homes,” Harckham said. “This means that following legal sports betting in New York State, multitudes of people who were not formerly presented with these predatory practices will fall susceptible to gambling addiction that could have otherwise been avoided.”

Other countries already have restrictions on how betting operators advertise their services, which Harckham pointed to in his argument. In Great Britain, companies are limited in how they can display “free bet” opportunities.

In Ontario, Canada, operators are required to omit welcome bonuses in their advertising. Companies that fail to abstain from flashing these offers could face harsh penalties. 

Harckham is not proposing any specific language adjustments and is leaving that for the NYSGC to decide. Specifically, he wants the commission to “promulgate rules and regulations regarding predatory sportsbook bonuses in mobile sports betting.”

New York gambling landscape

States across America have shown commitment to furthering anti-problem gambling efforts, whether that be rehabilitation centers, increased problem gambling awareness, or adding extra resources to help those suffering from addiction. 

Harckham’s bill is not attempting to increase scrutiny over sportsbooks, but is another tool to help ease the problems that can come from gambling.

these predatory practices are triggering a spike in gambling addiction” 

“Industry officials have cited their voluntary support for anti-addiction resources as proof that they can be trusted to operate without stricter government rules, but more safeguards must be put in place as this reporting has illustrated these predatory practices are triggering a spike in gambling addiction,” Harckham said.

If the bill makes it through the state legislature, it would need to be signed by Governor Kathy Hochul, who last week vetoed a bill that would have created a problem gambling advisory committee.

New York sports betting launched on January 8. It quickly became the epicenter for sports gambling and produced record-breaking totals with little effort.

As of November 27, New York sportsbooks reported $14.6bn in total handle across mobile apps and $1.2bn in gross revenue.

New York’s legislative session resumes on January 4, 2023.

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