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Online Casino Conditions >>> Betting News >>> April News


Las Vegas Casinos Indebted to Bad Gamblers and Baccarat

by Ryan O'Donnell, News Staff
Writer      Bookmark with del.icio.us
April 12, 2007
 

February of 2006 was such a good month for Las Vegas casinos that some gaming analysts thought it would be hard to beat in 2007. However, thanks to two games - the NBA All-Star Game, and one that Las Vegas is even more familiar with - Baccarat, casino gambling revenue for the month of February this year beat out 2005 by approximately 3%. Considering statewide revenue for February of 2006 beat out the previous year by nearly 13%, this year's monthly earnings of nearly $1.055 billion are an impressive feat, although gaming analysts say it could have been much better.

Statewide wagers came in at $14 billion. On the famed Las Vegas Strip, gambling revenue was up to nearly $575 million - a 4.3% increase from February, 2006. And for the game of Baccarat alone, casino earnings were at over $116 million, which is nearly a 47% increase from the $37 million in Baccarat revenue for 2006. Now, on a quick side note, this is not to say that the Rules of Baccarat come with an overtly high casinos edge. However, it is to say that Baccarat still remains to be a game for high rollers. If it were not for Baccarat, February might have very well produced lackluster results. Slot machine revenue was down over 2%, while table games would have been down if Baccarat had not produced the numbers it did.

An analyst for the Nevada Gaming Control Board, who tallies the numbers, say that the month of February would have been down from the previous year if it were not for the Chinese New Year, which started on the same weekend that the NBA All-Star Game and a 3-day Presidents Day holiday was taking place. While these three events certainly maxed out Las Vegas' capacity, the business would have been even better if they were spread out over several weekends. Some gaming analysts report that it appeared NBA fans were more interested in dining and entertainment than in casino gambling. Perhaps it was a few NBA All-Stars who helped the casinos out by slipping in the high roller Baccarat rooms unbeknownst to the public eye.

While some gaming analysts are concerned about how 2007 may progress, others say that February's Baccarat figures are a good sign for things to come. Most analysts agree that February could have been even better if the NBA game and the start of the Chinese New Year did not take place on the same weekend. In fact, the increase in attendance by NBA fans could have very well adversely impacted the casino earnings at the Baccarat tables. Considering that Las Vegas can only accommodate so many people and that NBA fans (who were not doing much gambling to begin with), were taking up a lot of the space, the casino floors could have been more busy with Chinese New Year celebrants.

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