THE RETURN OF STRIP BACCARAT

Following four months of down Baccarat drop, August was a winner.

We estimate Las Vegas Strip revenues increased 2-5% YoY in August, assuming normal table hold.  Since the month ended on a Saturday, slot hold will be below normal due to State accounting and that is factored into our estimates.  Assuming consistent slot hold in both periods, we estimate YoY gaming revenues increased 5-8%.  We still expect down slot and non-Baccarat table volume, but our research indicates that Baccarat volume was strong.  Remember that Baccarat volumes have fallen 4 straight months – fueling fears of the end of the 5 year Baccarat bull market.  Our Baccarat revenue projection of 30% YoY growth could actually prove conservative if our suspicions of high hold prove true.

State gaming figures should be released early next week.  Here are our full projections.

THE RETURN OF STRIP BACCARAT - strip