Casino News Roundup: Slots Millionaire, Revenue Decline, Knights Deal

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This week’s casino news is all about Las Vegas. We’ll start off with one lucky 30-year-old, who had a birthday to remember on The Strip this past week. 

New Millionaire Wins At The Slots On His Birthday Trip

What happens in Vegas stays in Vegas, unless you win big. Usually, that comes home with you.  

A California man planned a trip to The Strip for his 30th birthday and it proved to be a memorable one. He became a millionaire in Las Vegas, hitting the jackpot on a slot machine. The 30-year-old, who chose not to disclose his name, played a slot at The Cosmopolitan in Las Vegas. He put $100 into the Wheel of Fortune’s Double Diamond slot machine, which is one of the more visible games on the casino floor. On his seventh spin, the screen lit up as he won $1,412,122.05. Happy 30th birthday, indeed. 

Second Straight Decline In Gaming Revenue For Casinos 

Sticking around in Nevada, while they’re still making money hand over fist, they’ve seen a slowdown that is concerning to some. The numbers are in and Nevada casinos are still struggling to increase their gaming-based income. The Nevada Gaming Control Board reported a 7.7 percent year-over-year decrease in August of 2018, which follows a 0.16 percent decline in year-over-year revenue in July. Naturally, that ramps up the anticipation for the September report to see if it was just a slow summer or if this is the start of a trend. 

Taking a deeper dive into the numbers, casinos on the Las Vegas Strip endured a decrease of 5.75 percent in gaming income in July. In August, they were down even more, at 12.4 percent. The Nevada Gaming Control Board’s August report indicated that Nevada casinos took in a combined total of just under $913 million in August, which was the lower monthly total of the year. The figure from August of 2017 was $989.5 million.  

Taking a look at Las Vegas specifically, the casinos on The Strip took in $447.9 million in August of 2018. A year earlier in the same month, they pulled in $545.5 million. That is a decrease of nearly $100 million. 

Not everyone is overly worried just yet. It’s worth noting that the Floyd Mayweather Jr.-Conor McGregor bout happened in August last year, so that contributed to a big number in August 2017.  

PlayAGS Inc. Signs Landmark Deal With Golden Knights

The Vegas Golden Knights were one of the best stories in the NHL last season, making it to the Stanley Cup final in their first season as an expansion team. Needless to say, they’ve become a fan favorite in the city and the ideal partner for marketing purposes. As their second season is just about to get underway, they’ve announced a partnership with PlayAGS, an electronic gaming machine supplier, who will be one of their key sponsors this season. 

In what is believed to be the first type of deal of its kind, PlayAGS Inc. announced it had signed a corporate sponsorship agreement with the Golden Knights. PlayAGS, a Las Vegas-based firm, announced a multi-year deal to have its name attached to a “Play of the Game” feature on the video board inside the Golden Knights’ arena during hockey games. This will apply to the NHL regular season and to the NHL playoffs, should the Knights return to the chase for the Cup. 

Typically, leagues shy away from taking money from gaming businesses but Vegas is the perfect franchise to break that ice.