\nHoward Stutz, Las Vegas Review-Journal<\/p>\n
\tMaybe it was baccarat. Maybe the calendar was to blame.<\/p>\n
\tIn other words, analysts looked to make sense out of February\u2019s gaming revenue results in Nevada where Strip casinos declined 4.4 percent and every reporting market in the state saw either a gaming revenue increase or flat results.<\/p>\n
\tThe Strip\u2019s down month led to a statewide gaming revenue total of $916.1 million in February, a decline of almost 1.1 percent. Clark County revenue as a whole was off 1.7 percent because results other area locations, including a 10.6 jump in Laughlin, helped offset Strip declines.<\/p>\n
\tThe Gaming Control Board released the February results Tuesday.<\/p>\n
\tThe Strip had $531.3 million in gaming revenue during the month compared with $555.7 million in February 2014.<\/p>\n
\tThe statewide and Clark County declines in February followed solid increases in January. Statewide, casino revenue was up nearly 7.8 during the month while the Strip has a 15.4 percent increase.<\/p>\n
\tBrent Pirosch, director of gaming consulting for the CBRE Global Gaming Group, had a simple explanation. He believes January and February should be compared on a combined basis. The dates of the lucrative Chinese New Year are a moving target. Last year, the holiday began on Jan. 31. This year, the holiday started on Feb. 19.<\/p>\n
\t\u201cSome of January\u2019s collections may have been pushed into February, and some of February\u2019s collections may be pushed into March,\u201d Pirosch told the firm\u2019s clients in a research report. \u201cThis collection scenario is similar to last year.\u201d<\/p>\n
\tOn the Strip, baccarat revenue of $120.9 million was down 22.6 percent, which fueled much of the month\u2019s decline. The amount wagered on baccarat fell 21.8 percent to $982.5 million despite the Chinese New Year holiday.<\/p>\n
\tGaming Control Board Senior Research Analyst Michael Lawton said baccarat volume has declined in six consecutive months. The revenue from baccarat has been down six out of the last seven months.<\/p>\n
\tGaming analysts speculated the downturn in baccarat business is an off-shoot of the downturn in baccarat play in Macau, where the Chinese government crackdown on corruption has targeted the region\u2019s high-end junket operators who send players into Macau casinos.<\/p>\n
\t\u201cWe do not expect the soft baccarat results to come as a surprise, as the weakness in Asian sourcing has been well-documented,\u201d said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski.<\/p>\n
\tDeutsche Bank gaming analyst Carlo Santarelli said \u201cbaccarat volume had a negative influence on the numbers.\u201d<\/p>\n
\tPirosch said February\u2019s baccarat result coupled with January\u2019s revenue of $147.2 million ensured the Strip surpassed the 2014 combined number. February\u2019s hold percentage for baccarat \u2014 12.4 percent \u2014 matched the figure from a year ago.<\/p>\n
\tThe declines in baccarat wagering, however, concerned Pirosch.<\/p>\n
\t\u201cBaccarat volumes are where they were in the recession era,\u201d he said. \u201cIf the math kicks back in to the players\u2019 favor, substantial declines could be on the horizon.\u201d<\/p>\n
\tExcluding baccarat, Strip gaming revenue was up 3 percent, helped by 5 percent increases in slot machine revenue. Lawton said slot revenue was up in every reporting area of the state and the amount wagered on the game has shown three straight monthly increases.<\/p>\n
\tSports betting revenue of $12.8 million was a 50 percent decline from a year ago. Sports book winnings from football dropped 70 percent to $4.7 million primarily because of the Seattle Seahawks failing to score a touchdown at the end of the Super Bowl and losing to the New England Patriots.<\/p>\n
\tA year ago, the Super Bowl brought in $19.7 million in revenue. This year, the books collected $3.3 million.<\/p>\n
\tThere was good news in Northern Nevada where casinos in Reno, coming off a 14.2 percent gaming revenue increase in January, grew gaming revenue almost 3.4 percent in February.<\/p>\n
\tNevada collected almost $58 million in gaming taxes during March based on February gaming revenue, a decline of 1.64 percent from a year ago.<\/p>\n
\tFor the first nine months of the fiscal year, gaming tax collections are up 1 percent.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
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