The latest Las Vegas Business Press is on the streets, and it includes my thoughts on the April numbers:
April revenue results for Nevada’s casinos contained a not-unexpected surprise. The hands of fate, in the form of a lower-than-usual baccarat hold percentage, finally caught up with the state, proving that an over-reliance on high-end gamblers is at best a stopgap strategy and no formula for growth.This April, players bet about $693 million on baccarat. This was enough to make it the biggest April in Nevada baccarat history, with nearly 30 percent more money played than in April 2009, which was a similar advance over April 2008.
via Las Vegas Business Press :: David G. Schwartz : Gaming demand’s down, do we need new marketing?.
We’re going to see a lot more of this until someone figures out a way to get more–many more–lower-budget but higher volume gamblers back on the Strip.