MyVegas Gross Revenues Are $60 Million

MyVegas Logo

Last month I learned that social casino revenue is almost $3 billion a year. I thought it was a lot but this is more than I would have ever expected. More specifically I learned that a good chunk of social casino revenue comes from MyVegas. MyVegas’ gross revenues are about $60 million!

(Eilers Research gaming analyst Adam) Krejcik said Eilers Research lists PlayStudios as the eighth largest publisher of social casino games worldwide with a run-rate to achieve more than $60 million in gross revenue this year. The revenue comes from customers buying tokens.

Overwhelmingly the people I know personally and online that play MyVegas view it as a free game. They take the daily free chip allotment and try to win prizes. It’s a fun way for some people to waste time. At the same time other people may not find the game worth their time after doing the math to see how much those prizes actually cost in time. Neither sides of the fence are wrong. It’s just preference.

Buy MyVegas Chips On Facebook
Buy MyVegas Chips

It’s easy to see how MyVegas could make so much revenue just from chip sales even if only a small percentage of players ever spend a dollar. Chips don’t equal rewards. Chips just allow you to play the game. The chips allow you to earn loyalty points which you exchange for prizes.

If the players hits a cold streak while playing with a lot of chips at once those 3 million chips you purchased for $199 will be gone in a few minutes. If the player doesn’t earn the reward that they’re playing for it’s easy to dip back into the wallet, more likely a purse, to grab the credit card and buy more chips.

Just like real gambling $400 or $600 the player may win 2 nights at a hotel that would have cost $300 otherwise. Just like casino gambling who am I to mock someone else’s fun?

Is social gaming the future of mainstream gambling? Social casino revenue is growing rapidly. It may not be the future alone but it will be around for a while.

Gamble With Asteroids, Centipede And Other Atari Games

Atari Casino
Hey, It’s The Atari Casino

It looks as if the Atari Casino will be launching online in just a few months.The casino will offer gambling for real and virtual currency.  Atari Casino will be considered a social gaming platform since gambling is a dirty word more than simply an online casino. The casino will available on the Web, as well as Facebook and mobile devices.

Even though I never owned an Atari video game system when I was growing up (I was a ColecoVision guy) I played their games way too often. Older brands like Atari are a link to my childhood and that’s what they’re is banking on to acquire players.

The idea of gambling online isn’t very attractive to me because I prefer gambling with some form of human interaction. Having said that I might consider playing craps, slot machines or blackjack at the Atari Casino if it’s branded with Centipede, Missile Command or Asteroids for a little while. This might not be Atari’s only gambling play. Last year at G2E I reported that IGT was re-introducing skill-based gaming with a Centipede branded slot machine for Vegas Chatter. We shouldn’t expect to see anything in casinos until next year. Photo: Engadget

MGM Resorts Jim Murren on CNBC

MGM Resorts International CEO was on CNBC today discussing Las Vegas and their company.

Some highlights include:

  1. 2012 will break visitor records in Las Vegas.
  2. Online poker will become legal in 2012. Either state by state or nationally.
  3. Will spend $2 mm – $2.5 mm in Macau.
  4. Aria convention space sold out.
  5. Social gaming discussion – Farmville on the strip.