Earlier we wrote about the huge surge in Las Vegas gambling revenue in January.
On the surface, this looked like a great bullish indicator of the economy.
But we’ve looked into the data a bit more, and we’re less sure.
The Nevada Gaming Commission sent us the full breakdown of the gaming revenue stats.
Check out these numbers for gaming revenues for January from the CLARK COUNTY LAS VEGAS STRIP AREA (AKA: The Vegas Strip). As you can see, total gaming wins were up 30.7% from a year ago. Awesome news
But look at the year over year growth rates of Baccarat, Mini-Baccarat, and Pai Gow. Those three categories showed growth of 198%, 68.9%, and 371% respectively.
And of course, each of those games are very popular among Chinese tourists, who flocked to Vegas for the Year of The Dragon, which started on January 23 this year.
If you look at other games, the numbers are decidedly meh. Slot wins actually fell 0.5% year over year. Blackjack wins fell 14%. Craps wins fell 4%. Bottom line: There’s not much indication that this month was huge outside of the Year Of The Dragon Influx.
Photo: Nevada Gaming Commmission