Baccarat drives Vegas Strip’s 18pct rise in casino win
Baccarat drove the 18 percent year-on-year rise in casino win on the Las Vegas Strip (pictured) in the Nevada, United States, gaming hub, according to official data published on Tuesday.
Baccarat is a casino table game favoured by players of Asian heritage wherever they settle or travel in the world according to investment analysts.
Data posted online by the Nevada Gaming Control Board indicated that “win” in games of baccarat during the month rose to almost US$156.69 million, jumping by 116.78 percent. ‘Win’ in Las Vegas parlance is the amount players bet, minus the money that is paid out by the house in player prizes, according to the University of Nevada, Las Vegas .
“The highest baccarat hold (20.9 percent) since 2003 drove the outsized growth” in Las Vegas Strip win, noted Deutsche Bank Securities Inc’s Carlo Santarelli and Steven Pizzella, referring to the performance of the house relative to the performance of the players.
The brokerage also noted in its Tuesday memo that had baccarat been excluded, the Las Vegas Strip table drop – the amount of money exchanged for gaming chips at the table – would have fallen 7.4 percent in June. Thanks to baccarat business, it actually rose 2.3 percent.
The Nevada regulator said total June casino win on the Las Vegas Strip – including from the main supplier of earnings in that market, slot machines – rose to just under US$616.6 million, or slightly shy of 17.7 percent more than a year earlier.
The data indicated that in the entire state of Nevada, casino win rose to over US$1.04 billion in June, 11.6 percent more than a year earlier.
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