"Baccarat results on the Strip sunk statewide gaming revenue in June.
Baccarat revenue was $64.7 million for Strip casinos during the month, down 53.7 percent from June 2014. For the first six months of the year, baccarat revenue is down almost 20 percent. The $616.7 million wagered by gamblers on baccarat was a decline of more than 43 percent. The hold percentage - the amount of money won by casinos out of the total wagers - was dismal 9.4 percent versus the 12.4 percent of a year ago.
The Gaming Control Board said Tuesday Nevada gaming revenue declined more than 8 percent to $830.9 million during June. On the Strip, gaming revenue was down 16.3 percent to $445.5 million.
Fantini Gaming Research principal Frank Fantini said the declines in table game and slot machine revenue in June might suggest a broader weakness on the Strip.
'The question about the big decline in baccarat volume is whether it is a trend running parallel to the decline of high roller play in Macau as big Chinese players lay low,' Fantini said. "
Ref: Las Vegas Review Journal
The Chinese Whales are lying low.
Baccarat revenue was $64.7 million for Strip casinos during the month, down 53.7 percent from June 2014. For the first six months of the year, baccarat revenue is down almost 20 percent. The $616.7 million wagered by gamblers on baccarat was a decline of more than 43 percent. The hold percentage - the amount of money won by casinos out of the total wagers - was dismal 9.4 percent versus the 12.4 percent of a year ago.
The Gaming Control Board said Tuesday Nevada gaming revenue declined more than 8 percent to $830.9 million during June. On the Strip, gaming revenue was down 16.3 percent to $445.5 million.
Fantini Gaming Research principal Frank Fantini said the declines in table game and slot machine revenue in June might suggest a broader weakness on the Strip.
'The question about the big decline in baccarat volume is whether it is a trend running parallel to the decline of high roller play in Macau as big Chinese players lay low,' Fantini said. "
Ref: Las Vegas Review Journal
The Chinese Whales are lying low.
