Gaming win up 14%

[battle.borne]

A sign of of something positive for the State.....


CARSON CITY (AP) — Two special events in February that attracted high rollers to the Las Vegas Strip pushed statewide gambling winnings up almost 14 percent (http://www.rgj.com/article/20100408/BIZ/100408007), casino regulators reported Thursday.

The Gaming Control Board said casinos’ winnings increased to $946.6 million, compared with $831 million in February 2009.

[Stuck in Seattle]

Strange numbers. Slot revenue was down. The increased win in just baccarat was larger than the total statewide increase, which is likely do to Chinese New Year. They're big Bacc players. It's nice to see Washoe county is up slightly.

[Darth Kaepernick]

I read in 2009 that Tao restaurant in Vegas was the number 1 selling independently owned restaurant in the US bringing in over $68.4 million in food and beverage sales. (Just under $200K every day).

And this was a horrible year for restaurants.

There are lots of good signs out there. I think people are just being more careful about quality and quantity then they were in the past.

[munnster]

I think Tao includes the nightclub business, which would make up the lions share of revenue. They also have a beach club too. Looking at the previous years survey they took in 11mil less in 2009 than in 2008.
I don't think Superbowl and CNY being completely in Feb can be overlooked. That has a huge impact on the numbers. Last year it lasted 2 weekends with one partly in Jan (1st weekend of CNY and SB).
This year they were completely in Feb.

I just read this in the RJ and I think it gives a great analysis.
http://www.lvrj.com/business/nevada-gaming-revenues-jump-13_9-percent-in-february-90214067.html

[battle.borne]

Strange numbers. Slot revenue was down. The increased win in just baccarat was larger than the total statewide increase, which is likely do to Chinese New Year. They're big Bacc players. It's nice to see Washoe county is up slightly.

It was a banner winter for properties which cater to Asian clinetele. No question Chinese New Year was the main factor in the increase, which is still good news but tempers my enthusiasm somewhat. It certainly wasn't predicated on across the board visitor increases to the Reno and Vegas areas.