The game of baccarat is a favorite casino game enjoyed by Asian gamblers, one that saw a large decrease in win on the Las Vegas Strip in Nevada for the month of November. When comparing year-on-year numbers, the game decreased by 23.2% based on information provided by the Nevada Gaming Control Board.
During the reporting period, the amount of money that casinos were able to retain after prizes paid, otherwise known as the win, was $84.2 million. Overall table game win was down as well for the Strip, with the Nevada Gaming Control Board reporting $259 million, which is a 4.2% decrease. Slot win was also down with $258 million win for the month, which is a decrease of 2.7%. Overall, the total gaming win on the Strip for the month of November was close to $517 million which is a decrease of 3.5% from the previous year.
According to Buckingham Research Group Inc.’s Christopher Jones, the decline of baccarat win was due in part to a 116 basis points negative swing in hold rate to 13.65%. Volume of the game decreased by just over 16%. According to another analyst, John DeCree of Union Gaming Securities LLC, the month also had one less weekend day when compared to 2015 with the sportsbook win declined as well.
When you take away the baccarat loss, the table game and slots revenue is actually up 1.6% year-on-year, based on information provided by Deutsche Bank Securities Inc. Across the state, gaming win was at $930.4 million for the month which is a 1.5% drop from the 2015 totals.