Online Gambling Press

Hard times for Vegas because Conferences are struck down

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Around 402 numbers of meetings and conventions are cancelled from 2008 October till the middle of March 2009. The complicated economic times that the US is nowadays battling all thru were once more showcased in to a USA Today article previous week that stated that in the times of October 2008 till mid-March 2009 around 402 number of meetings and conventions planned for Las Vegas has got cancelled.

The Wagering Mecca was in between such toughest hit by online casino companies, whether canning corporate Jolly’s like deterrent PR Moves or cutting back on expenses on conferences.

The newspaper referred with the statics from Visitors Authority and Las Vegas Convention disclosed that, the 402 number of cancellations price the Las Vegas region’s economy around $166 million – and it does not comprise lost gambling revenue!

Authority is performing tough to supply its clients, hotel collaborators and the business community with incentives and means to “offer balance” to the conversation of business travel and meeting, USA Today stated.

“We are required to assure that worth and significance of the meetings and convention industry is made evident,” LVCVA President and CEO, Rossi Ralenkotter stated to the newspaper. “It is vital that we perform tough to keep on to encourage business travel to the Las Vegas. ”

LVCVA has introduced a complete, online toolkit to offer information and sources for hotel partners and clients to remain side by side of developments in to the meetings diligence. Clients could way in client testimonials, statistics and other information clarifying the causes events are flourishing in the Las Vegas. The tools were offered to the Hotel partners to encourage group tour to the destination, plus renews on developments in the business and the Congress relying on the industry.

Considering with the logical viewpoint, it must be remembered that Las Vegas yearly host around 22,000 numbers of meetings and conventions, which offers 46,000 numbers of jobs and around 8.5 Billion Dollars in the economical activity – the LVCVA stated.

PlayTech, the Results of the Year

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Well-known internet gambling software provider Playtech plc, based on the Isle of Man has recently proclaimed some numbers and Q4 2008 activities.

Among the key points has been mentioned the following events:
- The revenue for the year 2008 is Euro 111.5 million, that is 70% growth in comparison with the Euro 65.7 million in 2007.
- The revenue for the quarter is Euro 31.5 million, that is 52% growth in comparison with the Euro 20.8 million in Q4 2007 (Q3 2008: Euro 28.4 million).
– The Casino revenues for the quarter are Euro 22.1 million that is 52% growth in comparison with the Euro 14.6 million in Q4 2007 (Q3 2008: Euro 20.5 million).
– Poker revenues for the quarter are Euro 8.6 million, that is 43% growth in comparison with the Euro6.0 million in Q4 2007 (Q3 2008: Euro 7.6 million).
- The share of the PlayTech’s players’ income from Asian facing licensees rises by 26% from Q3 2008 and the share from European licensees rises by 11%.

PlayTech closes the last quarter of the year 2008 with the highest revenues and completes successfully two important projects. In such a way PlayTech goes into 2009 as one of the leading companies in the sphere of online gambling and extends its business through the current economic events.

The first is the complete finalization of all the transactions with William Hill plc and PlayTech subsidiaries. On 2 January 2009 the company has reported that according to the official agreements PlayTech purchases all assets and businesses for the subsidiaries and successfully joins them to William Hill Online. Whereas PlayTech acts as its online gaming software provider. The next step in this connection is launching of William Hill Online Casino and Poker products together with software of the PlayTech company.

The next important event is the entrance of PlayTech to the Italian Poker market in December. All current results show that Italian poker market brings significant revenue and the sums are higher than the initial forecast.

Mor Weizer, Playtech’s Chief Executive, commenting the recent success of the company says that the last part of the year has been extremely good in many aspects and PlayTech continues the business development. The progress of William Hill Online is really significant and it plays a great role in the strategic company development. This year the company has met all the management’s demanding expectations and has a range of goals for the next year which should be reached.