There are plenty of large casinos in Nevada, as we all know, but they are currently experiencing a surge in success – and it is all thanks to one game: baccarat. The casino industry correct the $11 billion gaming revenue figure in 2013 for the first time in 2008, with a gaming revenue increase of 4.8% on the strip, which represented the largest single year percent increase in 2011. The Gaming Control Board released the calendar year end and December gaming revenue totals recently, showing a dramatic increase in the amount of money which is being wagered on Baccarat, and in the profits across the state.
The all-time record across the state for revenue in a single year was $12.8 billion in 2007, so the 2013 figure of $11.14 billion is certainly something which hints at greater things to come on the horizon. On the strip, the gaming revenues managed to hits the total of $6.5 billion, which represents a 4.8% increase over the previous year and is also approaching the all-time revenue record of $6.8 billion which was made in 2007. Baccarat figured heavily into the numbers, as plenty of high-end customers who travel to Las Vegas from areas such as Asia tend to prefer this kind of game. “Baccarat play continues to grow and be an important factor in the overall Strip performance,” said Union Gaming Group analyst Robert Shore. “Of course, the activity only really benefits a few casinos that cater to that audience.” He referenced casinos operated by MGM Resorts International, the Las Vegas Sands Corp, and Wynn Resorts limited as locations which have a healthy baccarat business. The statewide Baccarat revenues of $1.6 billion in 2013, an increase of 16.2% over the previous year, also created a new single year record for the game, representing the highest figure since 2003.
The Gaming Control Board Senior Research Analyst Michael Lawton has stated that the gaming revenue increase across the state would only have been 0.6% if baccarat had not been included in the figures. He described the popularity of the game, as having seen gradual growth, with baccarat in 2013, representing 14.3% of the overall statewide game revenue figure, up from 3.8% in 2002. Slot machine revenues, in the meantime, are currently seeing the lowest percentage since 1990, only accounting for 60.6% of the overall gaming revenue figure. Slot machine revenues are normally seen as the most relevant barometer for the health of the casinos in Las Vegas, and how well they are operating, but this may be something that we have to rethink as it seems that the decline in slot machine wagering does not represent a decline in casino gaming overall. Meanwhile, the Las Vegas Strip accounted for $6.5 billion of the overall revenue or in other words 58.4%, which is the highest percentage of the overall Nevada total that has ever been seen from the area. December was a very strong month, and certainly contributed strongly to the totals.