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.
Before the start of Chinese New Year, I had forecast a thirty percent decrease in Macau’s gaming revenue. While I had expected a major decrease because of various socio, political and economic circumstances, I was surprised at the near fifty percent drop.