The Nevada State Gaming Control Board Gaming Commission has reported that casinos on the Las Vegas Strip experienced a 22.6% increase in gaming revenues during November 2013.
According to the CasinoCityTimes.com website, analysts had predicted a rise after a lacklustre October, but not at the levels posted.
Casinos collected a total of $875.9 million (€641.8 million) from gamblers during November, an 11.9% rise on the $782.7 million collected in November 2012.
The latest total gaming revenue rise marked the third monthly increase over the past four months in Las Vegas.
The monthly increase, the Strip’s second largest in the whole of 2013, has been put down to a 94% jump in baccarat results and a 53.5% rise in overall table game figures.
Strip baccarat revenue stood at £129 million for the month while table game revenues excluding baccarat totaled $174.7 million.
Sports books on the Strip also collected $14.3 million, which is a significant improvement on the $400,000 loss recorded in November 2012.
The commission highlighted events such as an Ultimate fighting Championship card at the MGM Grand, as well as the Chinese New Year celebrations and week-long Automotive Aftermarket Industry Week convention as key drivers of revenue in November.
Bill Lerner, managing director of Union Gaming Group, said the positive results are ‘notable’ given that the state is yet to record many ‘tangible’ results from online gambling, which launched in Nevada earlier in 2013.
“Overall, the Las Vegas Strip numbers were above our expectations,” Lerner said. “We believe this is notable given that there haven’t been many tangible financial results yet from online gaming.
“Payment processing issues are likely still weighing on results given that many credit card companies block any and all transactions for online gaming.”
source : www.igamingbusiness.com
