Nev. gaming breaks $1 billion with Chinese New Year helpMarch 12, 2012 7:59 PM by Ray Poirier
Helped by the celebration of Chinese New Year, Nevada gaming revenues during the month of January broke through the $1 billion mark for the first time since the beginning of the recession.
Last year, Chinese New Year fell during the month of February.
According to figures compiled by the Gaming Control Board, casinos won $1.038 billion in January, a number that was 18.4 percent more than they did during the comparable month of 2011.
The total was boosted by a 29 percent increase in revenues won by casinos on the Las Vegas Strip. The total for January was $623.5 million, up from last year’s $482.7 million. Of that amount, the Strip casinos won $365.2 million from table games.
Usually when a high profile Las Vegas Strip property sends slot free-play solicitations to locals it is a sign their slot business is running a bit soft. After all, the hold percentages on the Strip are much higher than local casinos and about the only time locals play slots on the Strip is when they are at the property for other reasons, dinner, show or entertaining friends.