On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Nevada Gold & Casinos, Inc. (NYSE: UWN) Improving Casino Odds

  • Largest mini-casino operator in Washington
  • Increasing revenues and profits
  • Better odds than betting in a casino

Americans love casino gambling. In near record numbers, over 81 million people visited U.S. casinos in the 12-month period ended in the spring of 2017 (http://nnw.fm/1yTu6). From nickel slots to blackjack, almost everyone placed some form of wager, even though the house always has the edge. With such a penchant for casino gambling, the U.S. gaming industry is poised for another year of growth.

Blackjack has the best odds of winning, with a house edge of one to two percent in most casinos, notwithstanding the casino’s built-in advantage between the promised payout and the inherent odds of the game. The house never takes the extra risk; the bettor does. Popular slot machines have the lowest odds of winning, with a house edge of 10 percent or more. Despite the thrill and excitement, walking away a winner at a casino is a long shot. Rather than betting “in” casinos, better odds can be found betting “on” casinos. Well-run casinos are money pumps, and a more likely winning bet is buying a gaming company’s stock at the biggest casino of them all, the stock market.

Each year, gaming revenues in the U.S. yield more profits than the movie and recorded music industries combined. Even the combined revenue of the four major U.S. professional sports leagues is dwarfed by earnings from the commercial casinos industry. Casino stocks have surged this year with the big names leading the way. A smarter bet may be to look at smaller casino operators that enjoy similar ratios but haven’t made big moves yet.

Las Vegas-based Nevada Gold & Casinos, Inc. (NYSE MKT: UWN) is just such an operator. Nevada Gold & Casinos finances, develops, owns and operates gaming properties and projects in multiple U.S. locations. The company’s Washington Gold is the largest operator of mini-casinos in Washington. Nevada Gold also owns a slot route operation in Deadwood, South Dakota, and the Club Fortune Casino in Henderson, Nevada, with 540 slot machines, seven table games, a poker room, two bars, an entertainment lounge and a sports book. Washington’s mini-casinos have limited game options based on state law, but most offer multiple card games. Combined, Nevada Gold’s Washington facilities have over 120 table games including Blackjack, Pai Gow Poker, Baccarat, Spanish 21, Blackjack – Double Action, Ultimate Holdem, and Three and Four Card Poker.  Additional banked table games are permitted along with poker and pull tabs.  The company’s 24-hour Washington Gold casinos include full service restaurants with bars and collectively employ 1,100 people.

In July, Nevada Gold & Casinos announced financial results for the fourth quarter and year ended April 30, 2017 (http://nnw.fm/7zveF).  For the fourth quarter of fiscal 2017, the company reported net revenues of $19.8 million and net income of $1.2 million, or $0.07 per share.  For the fiscal year 2017, the company reported net revenues of $74.6 million, compared to $70.2 million in fiscal year 2016.  The Board of Directors authorized a share repurchase program of $2.0 million in 2016 and completed the buy back at favorable prices. The Board has also approved an additional $2.0 million share buyback, a strong indication that the company believes it’s undervalued in the market.

Since the stock market’s recovery began in 2009, major gambling companies in the U.S. have beaten the broader market several fold. Expanding profit potential has triggered a rush within the gaming industry as companies buy up other players to capture as much market share as possible. This could bode well for Nevada Gold as a potentially attractive target. As a well-run profitable gaming company, Nevada Gold may also provide outsized returns of its own and deliver much better odds to pocket casino cash.

For more information, visit the company’s website at www.NevadaGold.com

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information please visit https://www.networknewswire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Archives

Select A Month

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217