Nonetheless, the numbers are sliding slowly now compared with how they once dropped. The 3% decline in Strip winnings from January 2009 to January 2010 was considerably less than the 14.77% drop that occurred from January 2008 to January 2009. During that time, the Strip revenue plunged from $598.8 million to the aforementioned $510.3 million.

Despite the general overall decline in Strip winnings by the casinos, an analysis by CBRE gaming industry specialists Jacob Oberman and Brent Pirosch shows that the January 2010 gaming revenue numbers tells "a tale of two cities." The CBRE analysts compare and contrast the properties that compete in the baccarat/mini-baccarat market with those that do not.

The baccarat/mini-baccarat revenue was up 10% in January, a jump that is "off the charts," the CBRE analysts says. What's more, January this year was competing against a very strong January 2009, when the first few days of the Chinese New Year fell in January.

Table games revenue excluding the baccarat/mini-baccarat take was down 9.5% in January this year and down 17.4% in the trailing 12-month period, according to Oberman and Pirosch. Slot revenue was down 5.3% for the month and down 11.2% in the trailing 12-month period, compared to the 12 that preceded it.

The decline in Strip revenue was part of an overall slide in Nevada's statewide gaming revenue in January. The take, which was nearly $913 million in January of 2009, slid 3.22% to $883.3 million in January this year.

Instant Insights /

Strip Gaming Revenue Continues Downward Trend

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