Gambling Trends: Online Casino Revenue Rises

One of the best times to evaluate revenue trends in the gambling world is summer as businesses slow down and people take a break from the daily grind to go on vacation.

 If you were to go by the revenue reports from some of the big names in the gambling industry, looks like the online casinos are on the way up, while some of the land-based casinos are heading downward.
Reports from PartyGaming, one of the world’s largest online gambling companies and best known as for its online poker room PartyPoker, heading into the summer with a 26% increase in overall revenue for the first half of 2010. The Bingo site was the biggest increase, which earned it 25.8 million Euros during that period, up from just 1.2 million Euros during the first half of 2009.

 

Two of the biggest names in Vegas – Harrah’s Entertainment Inc. and MGM Resorts International, reported drops in revenue.

Harrah’s reported a loss for a second consecutive quarter, with revenue falling more than 2 percent to $2.22 billion, and MGM reported a second-quarter loss of $883.5 million. However, MGM’s loss took into account the $1.12 billion write-down on its 50 percent share of the CityCenter in Las Vegas. The news will no doubt improve in the near future.