Gaming Revenues in Nevada are up over 12% compared to the same period last year, with Clark County (where the Vegas Strip is mainly located) up over 14%. Revenues, which are measured by the amount of money players have lost, exceeded $1 billion, vs a win of $925m in January 2016.
The measurement only includes casinos with table games and 15 slots machines or more, is the highest January win since 2013. Which is good news for the Vegas economy. The Chinese New Year starting a week or so early this year was a driving factor, as it took place wholly within February in 2016.
Michael Lawton, Senior Research Analyst with the Tax and License Division of the NCG Board: “The billion dollar number is impressive; it’s sort of a high water mark, the last time we recorded a billion was in July, but this month is a little bit higher than July’s … It’s a nice sign that we recorded a billion twice in the last seven months. Chinese New Year is a big event that brings in a lot of baccarat play, it was a very good month for baccarat.”
According to Lawton, baccarat recorded revenue of $157.9 million in January, up 55.1 percent compared to the same month last year. Also up was the volume of baccarat play, which increased 47.8 percent, with a total volume of $935.6 million.
“We really haven’t seen a lot of baccarat volume increases lately. It’s been a struggle. We’ve only had five increases in the last 25 months,” Lawton said.