No NBA Could Be Bad For Las Vegas
November 3, 2011 by staff
The NFL and starting on Monday of the season college basketball will help mitigate some of the bets in the absence of the NBA, which was scheduled to open its 82-game season for the 30 teams on Tuesday and end with the final June.
“The most striking comes here will be on Christmas Day because it is the day that was displayed before the end of the year,” said Jay Rood, vice president of sports and racing at MGM Resorts International.
NBA betting Rood estimates accounts for 15% to 18% of its handling, the amount of money wagered.
“It’s an important part of our business,” says Rood. “If we are not the season, it will be something we’re going to have to try to beat – possibly explore other options, such as the expansion of some offers from the NCAA.
“Realistically, we will not be able to replace the action we get in the NBA.”
Bodog.com 5:04 early October likely to list the entire NBA season will be canceled.
Jay Kornegay, executive director of the Race and Sports SuperBook Las Vegas Hilton, expects a significant impact, too.
“We are a home of the NBA great. Represents 15% of our drive,” he says. “We expect that about half of that 15% of the transfer to college (basketball) game and games college football bowl. We expect similar results, after football (more) during the first three months of next year If the lock is to go at that time.
“I really feel once the college basketball season ends in late March, early April, and do not expect the NBA to handle the transfer of hockey or baseball.”
Kornegay and worry about the handle for college football. Says Nevada sportsbooks lost millions in the first six weeks of the season at the university, with the top 10 teams covering the spread of an “unusual rate” of 76% of the time.
The frequency of the NBA league makes a popular play. European game publishing is not an option due to time zone difference and lack of interest, but a superstar like Kobe Bryant Los Angeles Lakers came to play abroad.
“There are games every night (in the NBA). A lot of people around the country can not think that, but here, happens,” says Kornegay. “We have a very loyal following consistent NBA here, so we’re obviously concerned about that. We have already made adjustments in our expectations and budgets.”
Rood does not expect his book to recover more than 30% of the handle is lost from the NBA games.
“We are planning to lose 70% of the handle of the NBA for the year and the associated income that goes with it,” he says. “We will feel the pain as well as all other aspects of business, the people of the stadium to the bars, the TV revenue for advertisers.
“The domino effect will be felt in Las Vegas. The days of week will be difficult.”
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