Baccarat And The Strip Redeem Nevada Gaming Revenues
The Nevada Gaming Control Board released their figures this week and the tale is once again a mixed one. While gambling revenues continue to decline from the same period last year, the Las Vegas Strip continues to bail out the state of Nevada which is still struggling to recover.
According to senior research analyst for the Nevada Gaming Control Board, the Las Vegas Strip has had five consecutive monthly increases. The reason for this is due to the popular card game Baccarat which attracts international high rollers to the Strip. In the last twelve months alone over $1.7 billion has been generated in revenues from Baccarat alone. This has revenue has managed to make up for the overall sorry state of affairs in statewide revenues. Statewide revenues were up 1.4 percent from January to July this year but without the baccarat’s contribution statewide revenues were down 0.4 percent from the same period last year.
Total statewide gambling revenues for July were $931 million which was a 1 percent increase from the same period last year. The Strip made up for 57 percent of Nevada’s total July gambling revenues. This was a 4.8 percent increase from the same period last year.
Unlike the Easy Coast’s main gambling destination city Atlantic City, Las Vegas has managed to slowly recover from the recession. Part of the reason for this is the other attractions Las Vegas has to offer such as tourism which is attracting a wider base of visitor’s other than just gamblers.