Nevada Archives - Keno Wizard https://kenowizard.com/tag/nevada/ The Ultimate Keno Destination for Odds, Tips & Tricks Fri, 31 May 2024 16:09:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Nevada Archives - Keno Wizard https://kenowizard.com/tag/nevada/ 32 32 230792155 Nevada Gambling Revenue Drops Again in April 2024 https://kenowizard.com/2024/05/31/nevada-gambling-revenue-drops-again-in-april-2024/ https://kenowizard.com/2024/05/31/nevada-gambling-revenue-drops-again-in-april-2024/#respond Fri, 31 May 2024 16:09:45 +0000 https://kenowizard.com/2024/05/31/nevada-gambling-revenue-drops-again-in-april-2024/ Nevada’s gambling industry reported total revenue of $1.24bn (£977.0m/€1.15bn) for April 2024, marking a notable increase from the previous year but also indicating a second consecutive month of decline. This figure represents a 6.9% increase from the $1.16bn recorded in April 2023. However, it is a 3.9% decrease from the $1.29bn generated in March 2024. [...]

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Nevada-Gaming-Revenue-Decline-in-AprilNevada’s gambling industry reported total revenue of $1.24bn (£977.0m/€1.15bn) for April 2024, marking a notable increase from the previous year but also indicating a second consecutive month of decline. This figure represents a 6.9% increase from the $1.16bn recorded in April 2023. However, it is a 3.9% decrease from the $1.29bn generated in March 2024. Notably, March’s revenue was already lower than February’s, which had been bolstered by Nevada hosting the NFL’s Super Bowl.

Once again, slot machines remained the leading revenue source for Nevada operators, bringing in a total of $886.8m, which is a 5.9% rise from April 2023. Within the slot machine category, multi-denomination slots were the top earners, generating $586.8m, a significant 26.4% increase from the previous year.

High-stakes slots also performed well, with $25 machines seeing a revenue surge of 137.6% and $100 machines increasing by 14.5%. Conversely, lower-stakes slot machines experienced a year-on-year revenue decline.

Table Games and Card Games Boost Revenue

Revenue from table, counter, and card games, including sports betting, rose by 9.8% to $353.4m. In this segment, blackjack was the most profitable, generating $110.2m, up 16.0% year-on-year. Baccarat also saw a substantial increase, with revenue climbing 72.5% to $76.1m. Roulette followed with a 4.6% increase to $35.9m.

In contrast, craps revenue dropped by 25.5% to $30.3m, and Ultimate Texas Hold’em saw a slight decline of 1.1%, bringing in $15.1m.

Decline in Sports Betting Revenue

The sports betting sector saw a 5.0% decrease in revenue, totaling $30.8m in April. Basketball betting generated the highest revenue at $13.3m, though this was a 12.1% drop from the previous year. Baseball betting revenue increased by 18.4% to $10.7m, and hockey wagering saw a substantial rise of 74.2%, reaching $5.7m.

Football betting resulted in a $5.7m loss for operators, although this was a 17.1% improvement compared to April 2023. Wagering on other sports brought in $6.8m, down 31.6% from the previous year. Notably, $24.5m of all sports betting revenue in Nevada was generated through online wagering.

Las Vegas Strip Revenue Overview

Revenue on the iconic Las Vegas Strip reached $666.1m in April, which is 6.6% higher than the same month last year but 7.0% lower than in March 2024. Slot machine revenue on the Strip increased by 5.1% to $409.3m, with high-stakes machines showing the most improvement. Multi-denomination slots led the category with $276.9m in revenue, up 28.2%.

Revenue from table, counter, and card games on the Strip amounted to $256.8m, a 9.2% year-on-year increase. Blackjack was the top performer in this category, generating $81.7m, up 10.2%, followed closely by baccarat with $76.7m, which saw an 11.6% increase. However, sports betting revenue on the Strip fell by 26.5% to $9.7m in April.

Key Developments in Nevada’s Gambling Sector

Beyond revenue figures, Nevada has seen significant developments in its gambling sector recently. Earlier this month, London-listed Entain received unconditional approval to operate in Nevada. The company currently operates in the US through BetMGM, a joint venture with MGM Resorts. Entain had previously operated under a series of temporary licenses due to concerns from the Nevada Gaming Commission about its activities in unregulated markets. The recent full approval indicates that the Commission now considers these concerns to be resolved.

Additionally, Gaming and Leisure Properties (GLPI) announced a $105m acquisition of three casino resorts in South Dakota and Nevada. This includes the acquisition of Baldini’s Casino in Nevada, which spans nine acres and houses around 492 slot machines. GLPI also secured the Silverado Franklin Hotel & Gaming Complex and Deadwood Mountain Grand casino in South Dakota.

Source: Monthly Revenue Report [pdf]

Nevada Gaming Control Board. May 30, 2024.

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Nevada Gaming Control Board Maintains Secrecy Amidst Calls for Transparency https://kenowizard.com/2024/05/25/nevada-gaming-control-board-maintains-secrecy-amidst-calls-for-transparency/ https://kenowizard.com/2024/05/25/nevada-gaming-control-board-maintains-secrecy-amidst-calls-for-transparency/#respond Sat, 25 May 2024 08:18:34 +0000 https://kenowizard.com/2024/05/25/nevada-gaming-control-board-maintains-secrecy-amidst-calls-for-transparency/ There are a few red flags surrounding how the Nevada Gaming Control Board (NGCB) handles confidentiality. People are worried that this might affect the transparency and answerability of the state’s very profitable casino industry.  Confidentiality Laws Hinder Public Scrutiny of Nevada’s Casinos Licensing and regulating casinos in Nevada is the duty of the NGCB. It [...]

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There are a few red flags surrounding how the Nevada Gaming Control Board (NGCB) handles confidentiality. People are worried that this might affect the transparency and answerability of the state’s very profitable casino industry. 

Confidentiality Laws Hinder Public Scrutiny of Nevada’s Casinos

Licensing and regulating casinos in Nevada is the duty of the NGCB. It works under laws that make all inquiry files confidential. Critics argue that this provision in the Nevada Revised Statutes does not promote openness within an industry where billions are made.

The Enforcement Division together with the Investigations Division at NGCB perform critical activities like background checks on those seeking licenses as well as looking into crimes committed within or against any gaming establishment licensed by them. Unfortunately, these processes remain undisclosed owing to NRS 463.120 which states that anything connected with gaming inquiries should be kept secret, reported The Las Vegas Review-Journal.

David Cuillier, director of the Brechner Freedom of Information Project, has pointed out that confidentiality laws are problematic. According to Cuillier, such exceptions to open records laws – often aimed at shielding corporate secrets – diminish accountability and thwart public scrutiny. These exceptions, he said, have gradually chipped away at open record laws since the 1970s, making it much harder to get information.

The “confidentiality clause” has been a major point of contention in many high-profile cases. One of them was in regard to Scott Sibella who used to work as an executive with MGM Grand and Resorts World. During the Sibella investigation, when The Las Vegas Review-Journal requested public records concerning the case, the NGCB declined.

One of the things that has been pointed out as frustrating is the lack of openness. For example, Robert “RJ” Cipriani says he informed state agents years ago of unlawful gambling operations in certain casinos but they did nothing about it. 

Equally important, media coverage has been stifled as well in cases such as the one against Steve Wynn for sexual harassment and the unsolved murder of Benjamin “Bugsy” Siegel.

Michael Green who works as an associate history professor at UNLV explained why records have been kept secret from public knowledge until now. When the legislature established the Board back in the 1950s its main purpose was fighting organized crime within gambling houses. Hence these rules were put into place similar to those valid for police investigations requiring levels of proof while maintaining confidentiality too.

However, Cuillier urges for more transparency as he believes that if people do not have access to what they need from government agencies – especially regarding casinos which generate billions every year – then suspicion will start creeping back into everyone’s minds concerning the integrity of the sector.

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Nevada Casinos See $1.27B Windfall in January Despite Las Vegas Strip Dip https://kenowizard.com/2024/03/02/nevada-casinos-see-1-27b-windfall-in-january-despite-las-vegas-strip-dip/ https://kenowizard.com/2024/03/02/nevada-casinos-see-1-27b-windfall-in-january-despite-las-vegas-strip-dip/#respond Sat, 02 Mar 2024 11:18:35 +0000 https://kenowizard.com/2024/03/02/nevada-casinos-see-1-27b-windfall-in-january-despite-las-vegas-strip-dip/ Nevada casinos raked in a hefty $1.27 billion from eager gamblers in January, marking a slight step back from the previous month’s record-breaking figures. The report comes amidst a flurry of activity in the entertainment capital, sandwiched between the grand openings of several resorts in December and the highly popular Super Bowl LVIII hosted in [...]

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Nevada casinos raked in a hefty $1.27 billion from eager gamblers in January, marking a slight step back from the previous month’s record-breaking figures. The report comes amidst a flurry of activity in the entertainment capital, sandwiched between the grand openings of several resorts in December and the highly popular Super Bowl LVIII hosted in Las Vegas on February 11.

The Last Vegas Strip Records First Decline Since June 2023

While December boasted an impressive $1.43 billion in casino wins, January saw a dip, failing to clinch a spot in the top 10 highest gaming wins on record. Notably, the iconic Las Vegas Strip, typically the powerhouse driving the state’s economy, experienced a downturn with earnings totaling $686.2 million, significantly lower than December’s record-breaking $905.4 million haul.

Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, noted that the decrease in January marked the Strip’s first decline since June 2023, thus breaking a streak of six consecutive increases.

Lawton attributed the decline to various factors, including the disruptive construction associated with the Formula 1 Las Vegas Grand Prix in November and December, prompting some tourists to postpone their visits until February for the Super Bowl festivities. Additionally, the timing of the Chinese New Year influenced visitor patterns, impacting January’s results.

Despite the Strip’s setback, other areas such as downtown Las Vegas, the Boulder Strip, and off-Strip locals’ casinos witnessed a resurgence from December’s figures. Notably, properties in the “Balance of Clark County” category recorded a record-breaking $169.3 million in earnings, buoyed by the recent opening of Durango Casino & Resort in early December.

Slot Machines Fuel Nevada’s Gaming Growth

The state remains on solid footing, boasting a 4.77% increase over the previous year’s performance, with the Strip outperforming at 6.78%. Slot machines emerged as a driving force behind the off-Strip surge, contributing $135.8 million to the overall earnings.

Comparing January 2023 to the present, Nevada saw a modest 0.51% improvement, while the Strip lagged behind by 3.79%. However, the shortfall was compensated by robust performances in Reno, where earnings soared by a staggering 55.0% compared to the previous year, partly attributed to favorable weather conditions that bolstered casino foot traffic.

With February’s figures expected to receive a significant boost from Super Bowl activities, Nevada’s casinos are poised to maintain their winning streak, surpassing the $1 billion mark for the 36th consecutive month.

Meanwhile, the state’s percentage fee collections for February reached $99.7 million, marking a 3.74% increase over February 2023, indicating continued resilience in the gaming sector despite fluctuations in performance on the iconic Las Vegas Strip.

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Nevada Misses a Step in Tackling Problem Gambling https://kenowizard.com/2024/03/01/nevada-misses-a-step-in-tackling-problem-gambling/ https://kenowizard.com/2024/03/01/nevada-misses-a-step-in-tackling-problem-gambling/#respond Fri, 01 Mar 2024 22:48:33 +0000 https://kenowizard.com/2024/03/01/nevada-misses-a-step-in-tackling-problem-gambling/ The campaign, backed by the National Council on Problem Gambling, seeks to heighten public awareness of problem gambling and boost support for prevention, treatment, and recovery services. The Silver State Acts Hesitantly on Problem Gambling It similarly seeks to connect people who may need such services to the available options. Commenting on the upcoming month [...]

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The campaign, backed by the National Council on Problem Gambling, seeks to heighten public awareness of problem gambling and boost support for prevention, treatment, and recovery services.

The Silver State Acts Hesitantly on Problem Gambling

It similarly seeks to connect people who may need such services to the available options. Commenting on the upcoming month and the state of the state in Nevada, the International Problem Gambling Center’s (IPGC) Elizabeth Evans has expressed concerns about whether enough has been done.

At least in the Silver State. Evans has lived experience with addiction, making her uniquely suited to understand the grueling self-flagellation that gambling addicts go through, to speak nothing of mounting debt.

IPGC Executive Director Stephanie Goodman is similarly concerned about whether enough people are getting the message. Yet, she also seems moderately optimistic. Speaking to 8newsnow, Goodman finds reasons to be upbeat.

“What happens here is I think a space of hope,” she explains. Yet, there is an underlying trend that cannot be simply ignored. For starters, Nevada is not nearly doing enough. This opinion is shared by the Nevada Council on Problem Gambling counselor Ted Hartwell who echoes those concerns.

The Silver State has indeed been slower to respond to the need to muster more efforts – private and public – to address the issue of problem gambling. Lawmakers have already agreed to spend $2.2 million on problem gambling in 2024, but this may be insufficient to accomplish the task at hand, which is to spread awareness, and importantly – to offer treatment services to individuals who are already suffering.

There have been all sorts of calls to help bolster awareness. Goodman for one has criticized the lack of similar awareness for responsible gambling, or a sufficient chunk of the big events driving the state’s revenue being allocated to helping people who are suffering from gambling proliferation.

Funding Missing the Main Problem

According to UNLV’s International Gaming Institute Distinguished Fellow Alan Feldman was similarly concerned about how Nevada is addressing what is a growing problem not just in the state, but all across the nation. According to Feldman, efforts to fight back against gambling addiction ought to start in school already, citing evidence from other jurisdictions.

Feldman similarly cautioned that there is a gap in the understanding of problem gambling and more study of the issue is necessary. This underlying challenge comes amid the fact that Nevada may have more people who need and are even interested in assistance than there is funding to cover. Nevada is not alone in underfunding problem gambling safeguards, as Washington D.C. fully did away with it.

From the East Coast to the West Coast, there have been strong voices in support of doing more to protect consumers. This is good news. Now the money needs to be mustered for tangible results to materialize.

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Nevada Gaming Commission Changes Rules for Independent Agents https://kenowizard.com/2024/02/27/nevada-gaming-commission-changes-rules-for-independent-agents/ https://kenowizard.com/2024/02/27/nevada-gaming-commission-changes-rules-for-independent-agents/#respond Tue, 27 Feb 2024 02:17:02 +0000 https://kenowizard.com/2024/02/27/nevada-gaming-commission-changes-rules-for-independent-agents/ Across the globe, gambling operators enter into arrangements with individuals who help them bring high rollers to their casino floors. Companies that offer such activities are known as junket operators across Asia. In the United States, people who help bring high rollers to casinos are known as independent agents. It’s not a surprise that licensed [...]

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Across the globe, gambling operators enter into arrangements with individuals who help them bring high rollers to their casino floors. Companies that offer such activities are known as junket operators across Asia. In the United States, people who help bring high rollers to casinos are known as independent agents. It’s not a surprise that licensed gambling operators in Las Vegas, the gambling capital of the world, engage with independent agents who help them boost their business.

Usually, independent agents have ties with rich individuals and have access to incentives for their customers. Unsurprisingly, independent agents usually earn commissions based on individual clients they refer to casinos. Some agents work with multiple casino operators, in an effort to ensure the best experiences for their big-spending customers.

Now, a new report reveals that the gambling watchdog in Nevada approved changes to the regulatory framework for registered independent agents in the state. As announced by the Las Vegas Review-Journal, the Nevada Gaming Commission (NGC) greenlighted changes to Regulation 25 for independent agents that help bring high-roller customers to the state’s casino operators.

Previously, gambling operators had to submit mandatory quarterly reports revealing financial data regarding the independent agents they collaborate with. This requirement was later changed to annual reporting, before the most recent change. Under the new rules, licensed gambling operators would have to hold records for the activities of independent agents rather than submitting reports.

Per the change, licensees would have to be able to present the recorded data for the independent agents they work with. They will be required to keep such a record for a period of five years and present it in case of an inspection by the state’s gambling regulator.

Reducing the Regulatory Burden for Gambling Operators

The approved change effectively seeks to reduce the paperwork gambling operators are required to go through every year. Still, licensees would be required to keep on file information such as when they entered into a contract with an independent agent, when that contract end and how much was the agent paid.

According to Diane Presson, a supervisor with the NGC, there are more than 300 independent agents that are collaborating with casinos across Nevada. She added that some of those agents have active business-to-business relationships with multiple resorts at the same time. Finally, Presson pointed out that while the Commission will retain monitoring of the activities of independent agents, it has decided to leave this “at the property level” rather than requiring the operators to report those activities annually.

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Nevada Gaming Control Board Website Hit by Cyberattack https://kenowizard.com/2024/01/26/nevada-gaming-control-board-website-hit-by-cyberattack/ https://kenowizard.com/2024/01/26/nevada-gaming-control-board-website-hit-by-cyberattack/#respond Fri, 26 Jan 2024 10:26:42 +0000 https://kenowizard.com/2024/01/26/nevada-gaming-control-board-website-hit-by-cyberattack/ The Nevada Gaming Control Board’s website has been offline for several days due to a cyberattack.  Nevada Gaming Control Board Implements Temporary Measures after Cyberattack Reports indicate that the cyberattack targeted the public-facing websites of both the Nevada Gaming Control Board and the Nevada Gaming Commission, the bodies responsible for regulating the state’s gaming industry.  [...]

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The Nevada Gaming Control Board’s website has been offline for several days due to a cyberattack. 

Nevada Gaming Control Board Implements Temporary Measures after Cyberattack

Reports indicate that the cyberattack targeted the public-facing websites of both the Nevada Gaming Control Board and the Nevada Gaming Commission, the bodies responsible for regulating the state’s gaming industry. 

The affected website contained various essential information such as agency meeting agendas, gaming regulations, press releases, public statistics, contact details, and biographies of board and commission members.

Fortunately, gaming license details and financial records were stored on a separate internal state agency system, ensuring their protection from the cyberattack. 

The Nevada Gaming Control Board released a statement via its social media channels, confirming the incident and outlining the steps taken to mitigate the damage. According to the statement, immediate measures were initiated to safeguard the website by taking it offline. 

The board is currently collaborating with cybersecurity experts to thoroughly assess the situation. In the meantime, preparations are underway to publish a temporary website for individuals seeking access to information.

Nevada Gaming Control Board Takes Steps Against Cyber Threats

It is worth noting that the cyberattack seems to have exclusively targeted the gaming control board’s website, with no reported impact on other state agencies, which continue to operate normally. Even the monthly meeting of the Nevada Gaming Commission proceeded as scheduled, with no mention of the incident.

This cyberattack follows closely on the heels of high-profile attacks on major casino operators in Nevada, including MGM Resorts International and Caesars Entertainment, last September. These attacks resulted in significant financial losses and reputational damage to the affected companies.

In Nevada District Court, customers of Caesars Entertainment and MGM Resorts International even initiated five class-action lawsuits. These suits allege that the casino companies neglected to safeguard crucial customer data during the cyberattacks, contrary to Federal Trade Commission guidelines

Last June, Nevada lawmakers approved funds for upgrading the Nevada Gaming Control Board’s information technology system, a move aimed at replacing the outdated system from the 1980s. This system, separate from the website, plays a crucial role in running board functions. The upgrade was deemed necessary to ensure the security and efficiency of the board’s operations in the face of evolving cyber threats.

As inquiries into the recent cyberattack progress, stakeholders express optimism that actions will be implemented to strengthen the cybersecurity framework, thereby protecting against potential disruptions to essential state operations in the future.

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Nevada Considers Blacklisting Casino Chip Thief https://kenowizard.com/2024/01/13/nevada-considers-blacklisting-casino-chip-thief/ https://kenowizard.com/2024/01/13/nevada-considers-blacklisting-casino-chip-thief/#respond Sat, 13 Jan 2024 07:55:22 +0000 https://kenowizard.com/2024/01/13/nevada-considers-blacklisting-casino-chip-thief/ To ensure that specific individuals cannot access casinos across Nevada, the state has created a “black book,” or otherwise a list of patrons who are permanently banned from visiting any of the casinos in the state. Different people can land on that list, but they do need to meet certain criteria such as receiving a [...]

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To ensure that specific individuals cannot access casinos across Nevada, the state has created a “black book,” or otherwise a list of patrons who are permanently banned from visiting any of the casinos in the state. Different people can land on that list, but they do need to meet certain criteria such as receiving a ban from court or having a felony conviction.

Following a meeting of the Nevada Gaming Control Board (NGCB), the list of banned individuals may increase with the addition of a person who was convicted of stealing chips several years ago. The person, identified as Neal Ahmed Hearne, may become the 37th individual who will be permanently banned from all casinos across Nevada after his nomination to the black book, as announced by the Las Vegas Review-Journal.

John Michela, Senior Deputy Attorney General, spoke in front of the NGCB during the meeting that took place Wednesday. He showed video evidence of Hearne where the person is seen grabbing chips from a table and running away. In a separate video, also presented in front of the gambling regulator, Hearne can be seen grabbing chips from a table as one customer temporarily left their seat. He then flees the area on foot.

According to Michela, the two presented cases aren’t the only ones for Hearne, who was eventually arrested for his crimes and subsequently sentenced in January 2018. The Senior Deputy Attorney General explained that Hearne engaged in the same unsophisticated crime that involved him taking chips from tables in more than a dozen casinos across Clark County. In light of this, Michela said that the person needs to be added to the state’s black book, effectively banning him from visiting any casino across Nevada.

One Step Away from Joining the State’s Black Book

Kirk Hendrick, NGCB’s chairman, was shocked to see the actions of Hearne on video. “Sometimes reading the documents is one thing, but seeing it actually happen,” he pointed out. Additionally, Hendrick explained: “It’s clearly obvious that Mr. Hearne’s criminal actions are not only brazen — that he would do this right in the middle of a casino floor — but his criminal activities are prolific.”

It didn’t take long to convince NGCB about Hearne’s recommendation to be added to the black book, especially considering his felony conviction, something that is a part of the criteria to be added to the list. As a result, the NGCB voted unanimously, nominating Hearne to be permanently banned from all casinos in the state.

With the nomination in place, the person will now be given a chance to defend himself. After the formal nomination, the Nevada Gaming Commission will have to officially decide whether or not to add Hearne to the list and that will happen after an organized hearing where he will be invited to attend.

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Nevada Blacklists Mississippi Illusionist from Casinos https://kenowizard.com/2023/12/25/nevada-blacklists-mississippi-illusionist-from-casinos/ https://kenowizard.com/2023/12/25/nevada-blacklists-mississippi-illusionist-from-casinos/#respond Mon, 25 Dec 2023 20:23:15 +0000 https://kenowizard.com/2023/12/25/nevada-blacklists-mississippi-illusionist-from-casinos/ Different states across the US where casino gambling is legal have established exclusion lists. Such lists often include the names of individuals who were found guilty of gambling-related crimes or were involved in other illegal activities. With their name added to the infamous “black books,” those patrons are banned from visiting casinos in a particular [...]

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Different states across the US where casino gambling is legal have established exclusion lists. Such lists often include the names of individuals who were found guilty of gambling-related crimes or were involved in other illegal activities. With their name added to the infamous “black books,” those patrons are banned from visiting casinos in a particular state and may face legal action if they breach this prohibition.

It’s no surprise that Nevada, the home of Las Vegas, also has a black book that includes the names of patrons excluded from casino gambling. Following a Thursday meeting, the Nevada Gaming Commission (NGC), unanimously voted to expand its list by adding another person, increasing the number of excluded individuals to a total of 36 people.

The person who was excluded is Shaun Joseph Benward, a 36-year-old resident from Mississippi who media reports described as an illusionist. His name was added to the state’s black book over allegations of scamming casinos in different states, including Nevada. The unanimous vote for Benward’s exclusion comes after earlier this year, the Commission nominated him for the list. Although the 36-year-old was notified about the Commission’s planned voting for Thursday, he did not appear.

Reportedly, Benward has a long list of convictions or arrests over cheating not only in Nevada but in Iowa, Ohio and New Jersey, among other states. He is also added to the exclusion lists for Missouri, Michigan, Pennsylvania and Delaware, prohibiting him from visiting casinos in those states.

An Unsophisticated Scheme

Michael Somps, senior deputy attorney general at Nevada Attorney General’s Office, explained the scheme which was allegedly used by Benward to scam casinos across the country out of thousands of dollars. The illusionist allegedly distracted roulette dealers by engaging in discussions with them. After that, Benward allegedly would place a wager late in the game and once the roulette ball lands would try to convince the dealer that his chips were placed on a wrong number. To ensure the trustworthiness of his story and pressure the dealer, the illusionist would work in a team with a second person that would confirm his false claim.

It is yet to be confirmed whether Benward is currently in Nevada or another US state. Still, a person that has identical names, the same age, who is also listed as an Ocean Springs, Mississippi resident, is currently on the most wanted list for Lyon County in Iowa. This individual is charged with failure to appear for ongoing criminal conduct, including six counts of gambling cheating, five counts of money laundering and two counts of conspiracy to commit a felony. According to the Lyon County Sheriff’s Office, the same person is wanted for similar charges in Mississippi, Rhode Island, as well as Pennsylvania.

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Nevada Sets New Records with Unprecedented October Gaming Wins https://kenowizard.com/2023/12/01/nevada-sets-new-records-with-unprecedented-october-gaming-wins/ https://kenowizard.com/2023/12/01/nevada-sets-new-records-with-unprecedented-october-gaming-wins/#respond Fri, 01 Dec 2023 22:26:59 +0000 https://kenowizard.com/2023/12/01/nevada-sets-new-records-with-unprecedented-october-gaming-wins/ Nevada has hit the jackpot, breaking records with its best-ever October gaming win, marking the sixth-best month in the state’s history. The Nevada Gaming Control Board released figures showing a staggering $1.3 billion collected, reflecting a robust 2.7% increase over the previous year. Anticipation Mounts for November Figures Following Downtown Las Vegas Triumph Downtown Las [...]

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Nevada has hit the jackpot, breaking records with its best-ever October gaming win, marking the sixth-best month in the state’s history. The Nevada Gaming Control Board released figures showing a staggering $1.3 billion collected, reflecting a robust 2.7% increase over the previous year.

Anticipation Mounts for November Figures Following Downtown Las Vegas Triumph

Downtown Las Vegas emerged as a star performer, raking in a record-breaking $97.5 million for the month. Industry experts are now eagerly awaiting November figures, anticipating the impact of the inaugural Formula 1 Las Vegas Grand Prix that roared down the iconic Las Vegas Strip. With the addition of two new properties, Durango and Fontainebleau, December is also poised to be a strong month for gaming.

Michael Lawton, senior economic analyst at the Nevada Gaming Control Board, hinted at the anticipation surrounding the November gaming win totals. Lawton remarked that there would be significant anticipation to observe the results and the impact of F1 Las Vegas Grand Prix, advising everyone to stay tuned.

Despite October having one less weekend day compared to the previous year, nearly every Southern Nevada market experienced an increase in gaming wins. The Boulder Strip saw a significant uptick of 10.3% to $88.6 million, while Laughlin climbed 5.3% to $47.6 million. However, North Las Vegas reported a marginal decline of 0.8% to $23.4 million.

October marked a reversal in trends, with various markets, including downtown Las Vegas, Laughlin, the Boulder Strip, outlying Clark County, and Washoe County, contributing to increased slot-machine win totals, primarily driven by higher hold percentages.

Challenges Emerge as Slot-Machine Wins and Table-Game Wagers Decline in October

The state’s gaming numbers continue to outpace pre-pandemic levels, with October 2023 boasting a 28.7% increase, amounting to $293.3 million more than the same month in 2019. This milestone also marks the 32nd consecutive month that the state has recorded at least $1 billion in monthly gaming wins.

Las Vegas Strip properties continue to thrive, benefitting from residencies, concerts, and sports events. Notable performances by Adele, U2, Pink, Ed Sheeran, and sporting events like the NASCAR Xfinity Series and the Las Vegas Raiders’ home games contributed to the city’s vibrant gaming scene.

However, the report revealed a gradual slowdown in gambling on the Strip, with slot machine wins decreasing by 1.1% and the total amount wagered down by 1.3% to $4.9 billion. 

October marked the third consecutive month of slot-machine revenue declines, breaking a streak of 30 consecutive monthly increases dating back to March 2021. Table-game play also saw a decline, with a drop in money wagered, despite a 4.4% increase in table-game wins.

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Nevada Records the Highest Fraud Rate per Capita in the US https://kenowizard.com/2023/11/25/nevada-records-the-highest-fraud-rate-per-capita-in-the-us/ https://kenowizard.com/2023/11/25/nevada-records-the-highest-fraud-rate-per-capita-in-the-us/#respond Sat, 25 Nov 2023 08:20:12 +0000 https://kenowizard.com/2023/11/25/nevada-records-the-highest-fraud-rate-per-capita-in-the-us/ The accounting software company that is set to deliver “smart payables that elevate modern business,” Tipalti, has reported Nevada as the top-ranking US state in terms of financial fraud per capita.  286 Financial Frauds Per 100,000 People The report, which is based on data from the Federal Bureau of Investigation’s Internet Crime Data in 2022 [...]

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The accounting software company that is set to deliver “smart payables that elevate modern business,” Tipalti, has reported Nevada as the top-ranking US state in terms of financial fraud per capita

286 Financial Frauds Per 100,000 People

The report, which is based on data from the Federal Bureau of Investigation’s Internet Crime Data in 2022 alongside census data, has shown that the Silver State counted 286 financial fraud victims per 100,000 people in 2022 alone. 

However, in spite of reaching the highest fraud rates from all 50 states, Nevada’s legislation regards fraud as a criminal offense with potential penalties including one to four years in prison and fines as high as $5,000, based on the severity of the fraud.

Nevada’s state law defines fraud as “when individuals deliberately misinterpret themselves to receive benefits they are not entitled to legally, including housing, insurance proceeds, and money.”

The Most Common Types of Financial Fraud 

The Tipalti report also detailed the most popular types of financial fraud, with phishing ranked first with close to 300,500 victims, which is five times higher than data breaching which ranked second with close to 59,000 victims

Non-payment or non-delivery is the third most common financial fraud in the US with close to 52,000 victims

Phishing happens when an attacker manages to trick a user into installing malware or revealing sensitive information. 

In 2022, Americans who fell victim to scammers pretending to be highly ranked individuals in big organizations and had their business email compromised suffered losses of $2.7 billion

At the same time, the US recorded over $52 million in total losses

A personal data breach is a breach of security during which an unauthorized party gets access to confidential information which includes personal data. Having the highest impact in the cyber world, this type of fraud led to over 1,800 security incidents in 2022. Together, the incidents accounted for 422 million breached records in the US.

Non-payment scams are scams that happen when sellers who provide services or goods do not process their payment. Similarly, non-delivery scams occur when buyers pay for services or goods online but fail to receive the respective items. 

No In-Depth Explanation

The accounting firm report that also presented Delaware as the second-ranking US state in terms of financial fraud per capita followed by Alaska in the third position did not reveal any detailed explanations regarding the reasons why Nevada has recorded the high numbers. 

The same goes for the FBI data that Tipalti based its report on. However, the Las Vegas Review-Journal presented the opinions of two experts representing the University of Nevada, Las Vegas (UNLV).

UNLV’s chair of the accounting department, Jason Smith, argued that a possible explanation for why the state tops the nation is the fact that there aren’t sufficient residents with a high level of financial literacy. Smith also explained that Nevada’s friendly incorporation legislation convinces many to incorporate their businesses in the state, leading to the high financial fraud rate.

Similarly, UNLV’s director of the cybersecurity program, Gregory Moody, said that the state’s large number of gaming workers in the hospitality workforce might facilitate some forms of fraud. 

Moody also mentioned Nevada’s small population as a potential factor that could make it more susceptible to reaching the top of the list.

In August, the Nevada Gaming Control Board issued a warning regarding the increase in the number of scams that were targeting casinos. 

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