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Doc
Doc
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March 4th, 2011 at 11:57:34 AM permalink
Quote: pacomartin

...
17 Yonkers, N.Y. $540.50 million
...


OK, I'll show my ignorance. All I can identify in Yonkers is Empire City racino, and I had never heard of it. Is that one establishment really a bigger gambling market than all of downtown Las Vegas? Am I missing something?
FleaStiff
FleaStiff
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March 4th, 2011 at 12:00:05 PM permalink
Maybe alot of money is bet at Yonkers raceway even though most such tracks have fallen on hard times.
pacomartin
pacomartin
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March 4th, 2011 at 12:43:05 PM permalink
Quote: Doc

OK, I'll show my ignorance. All I can identify in Yonkers is Empire City racino, and I had never heard of it. Is that one establishment really a bigger gambling market than all of downtown Las Vegas? Am I missing something?



It is quite possible that a single gaming establishment on the east coast makes more than all of Downtown Las Vegas. At the height of earnings in 2007 the three largest Atlantic City establishments had the following gaming revenue.
$750.967m Borgata
$641.418m Bally's
$583.338m Ceasars
$519.497m Harrah's


Yonker's Empire City has 5300 slot machines which means $100K per machine per year ($274 per day). The average return for the 26,789 slot machines in all ten casinos in Pennsylvania was $263.87 per day in February 2011. PARX casino in Philadelphia made $331.02 per slot per day.

Downtown Las Vegas has 11,649 slot machines which average about $88 per day. Downtown also makes $32K per day on 400 table games (Yonkers has no table games), but that does not make up for the much higher return on slot machines.


The Aqueduct Casino in Queens will have 4500 slot machines (no table games for now) will be a subway ride away for almost 8 million people. They are expecting revenue as high as $1000 per day per machine.


The East Coast casinos and racinos are very efficient money making machines for the state government. Almost all the revenue goes to the state. That's why the owners are having trouble making a profit. Downtown Las Vegas and North Strip are very inefficient. If Nevada increases the gaming tax by a few percentage points, it will probably put the older casinos out of business.
HKrandom
HKrandom
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March 8th, 2011 at 5:44:57 AM permalink
Quote: pacomartin


While the gaming revenue numbers seem massive for one area, they are still below the nationwide USA take for all the commercial casinos in the country. If you include lotteries, Indian casinos, bingo halls, and horse racing the USA is still way ahead. China is still well over four times the population of the USA.

It is just that legal gambling for the whole country is in a single city.



Mainland China also has state lotteries and government owned video gambling terminals that cater to the lower end of the market. Hong Kong also has the Hong Kong Jockey Club which has the monopoly on lotteries, sport betting and horse races betting in Hong Kong. According to Bloomberg about HK$105 million is bet on every race at the HKJC. Thatís more than 50 times the average at U.S. tracks in 2010.

Here are some of the club's figures from 2009:
http://corporate.hkjc.com/corporate/operation/english/09-10-results.aspx
Overall, the Club's total turnover on racing, football and the Mark Six rose 7.1% to HK$116.93 billion while its share of gross margin grew 6.4% to HK$6.82 billion.
pacomartin
pacomartin
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March 11th, 2011 at 1:54:50 PM permalink
Quote: HKrandom

Mainland China also has state lotteries and government owned video gambling terminals that cater to the lower end of the market.



I stand corrected. I will modify my statement to say that China probably still falls far short of the nearly $100 billion that represents legal gambling in the USA.

From the American Gaming Association.


INDUSTRY 2007 GROSS REVENUES
Card Rooms $1.18 billion
Commercial Casinos $34.41 billion
Charitable Games and Bingo $2.22 billion
Indian Casinos $26.02 billion
Legal Bookmaking $168.8 million
Lotteries $24.78 billion
Pari-mutuel Wagering $3.50 billion
GRAND TOTAL $92.27 billion
pacomartin
pacomartin
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April 1st, 2011 at 10:14:13 AM permalink
Macau gaming revenues top $2.5 billion in March
With the average Vegas strip revenue $480m over the last year, it seems that Macau is now firmly at 5 times the level of the strip.

But it should still get a lot higher. The market also will benefit when Hong Kong-based Galaxy Entertainment opens a new hotel-casino in late spring.

In the calendar year 2005 Macau had gaming revenue of 47.134 billion Hong Kong dollars fairly close to the annual revenue of the Vegas strip (roughly $6 billion). At the time there were 17 casinos, 15 operated by STDM(Sociedade de Turismo e Diversões de Macau, SA ) who had the monopoly since 1963, 1 by Galaxy Entertainment Group (GEG) and the Venetian Sands .

GEG operated the Waldo Casino and hotel near the ferry terminal (opened July 2004).
pacomartin
pacomartin
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May 30th, 2011 at 11:01:28 AM permalink
For the month of April Macau made 20,507 million Hong Kong Dollars, an increase of +44.6% over last year. The four month accumulation is 79,028 HKD or roughly $10 billion. While Macau is probably going to come in several billion under the $34.60 billion made in all the commercial casinos in the entire USA, at this rate of increase it should surpass that figure by next year.

However with new train service and new casinos, it is conceivable that they could do it this year.
pacomartin
pacomartin
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June 1st, 2011 at 12:02:20 PM permalink
And just like that $3 billion in one month .

Patacas (millions)
----- 2011 ------- 2010
Jan 18,571 13,937
Feb 19,863 13,445
Mar 20,087 13,569
Apr 20,507 14,186
May 24,306 17,075

That is 103,334 HKD in five months of 2011, vs 119,369 for all of the calendar year 2009 (or more than double the revenue in only 2 years).
pacomartin
pacomartin
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July 3rd, 2011 at 6:01:29 AM permalink
Quote: pacomartin


Patacas (millions)
----- 2011 ------- 2010
Jan 18,571 13,937
Feb 19,863 13,445
Mar 20,087 13,569
Apr 20,507 14,186
May 24,306 17,075



And for June 2011 that's another 20,800 million patacas. The opening of new train lines now means that patrons can get from Beijing to southern China entirely by high speed rail. That is still the second highest month on record.
pacomartin
pacomartin
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September 1st, 2011 at 5:10:10 PM permalink
In august another $3 billion month or MOP24.77 billion.

Although regular records aren't kept for the entire American Commercial Gaming industry, it would appear that Macau is competing comfortably with the entire USA industry. Even more dizzying heights are projected for the next few years. If there was competition from Singapore it barely registered on the meter.

2011 Macau US$billions US$ cum
Jan $2.3 $2.3
Feb $2.5 $4.8
Mar $2.5 $7.3
Apr $2.6 $9.9
May $3.0 $12.9
Jun $2.6 $15.5
Jul $3.0 $18.5
Aug $3.1 $21.6
Sept
Oct
Nov
Dec


Revenue in Jul and Aug exceeded the Vegas strip for an entire year. With Sands Corporation getting only 14.2% of net revenue, and 10.3% of EBITDA from their Vegas properties, you wonder how long it will be before they dump their American investments.

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