The Year of the Dragon in Las Vegas 22.03.2012

Blackjack News

It seems as if the dark financial cloud which had fallen over the flashing lights of Las Vegas has lifted due to the $1.038 billion dollars gamblers spent in Nevada casinos during January of 2012, but has it really?

While this amount of revenue is an 18.4% increase from the takings of January 2011, it is a bit early to say that Las Vegas has rebounded to its glory days. The recent influx of financial gain seen in Sin City Casinos seems to be due to the calendar shift of the Chinese New Year.

In Chinese culture, as in many others, the New Year is a time for celebration and many Chinese employees receive bonuses at work. Many Chinese believe that if they stay awake during the New Year celebration they will have their lives extended and one of the most popular ways of staying awake is gambling. Couple these two cultural facts together and it is easy to see why the Chinese flock to Las Vegas for their New Year celebrations.

If we take a closer look at the games which enjoyed increased revenues, we will see that they are also the games which are highly favored by both Chinese tourists and high-end Chinese gamblers. According to the Nevada Gaming Commission, Baccarat, Mini-Baccarat and Pai Gow, all games preferred by the Chinese, had huge gains in January. For example, Baccarat revenues in Las Vegas were around $194 million dollars which is an increase of 199% and Mini-Baccarat had a 30% increase. In contrast to this, games like Blackjack and Craps fell 12% and 4% respectively.

Las Vegas remains hopeful that revenues will continue to increase as the year goes by but no one is holding their breath.

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