Monthly Strip Gaming Revenue Rises Nearly 33%

LAS VEGAS-Las Vegas Strip gaming revenue was up 32.9% in February to nearly $568 million and up 13.4% year-to-date, according to figures from the Nevada Gaming Control Board. But the take was down 3.9% in the trailing 12 period compared to the 12 that preceded it, according to an analysis by Despite the overall increase in the take by casinos, an analysis shows an analysis by CBRE gaming industry specialists Jacob Oberman and Brent Piroschsome shows some causes for concern.

The CBRE analysts’ projection for an all-time monthly record for baccarat revenue came to fruition in February 2010, so the five or six properties that compete for the primary share of the baccarat /mini baccarat market “were likely pleased with the revenue performance in February,” Oberman and Piroschsome say. But when adjusted for hold the numbers, although solid, “were not eye-popping,” they say. Additionally, same-store gaming revenue other than baccarat /mini baccarat continues to be down double-digits—a troubling sign, the analysts say.