Inside Asian Gaming

INSIDE ASIAN GAMING | February 2012 16 A relatively small number of wealthy Asian gamblers, predominantly from China, are keeping the recession- battered Las Vegas Strip in the black. The trend became starkly apparent in 2009, when baccarat dethroned blackjack as the highest-grossing game in the pit, booking US$921.6 million in revenue for the 17 casinos dealing it. It was a 21% increase year-on-year, according to data compiled by theNevadaGamingControl Board, and itwas a godsend at a time when the convention trade — the Strip’s lifeblood, given its effect on hotel room rates—was being battered by the economic downturn and mid-market domestic players, reeling from job losses and the collapse in home values, were staying away in droves. Combined casino revenues Strip Support Las Vegas has been mired in the economic doldrums since the financial crisis took hold in the US in 2007-08. As respected US-based gaming journalist James Rutherford reports, since then, Sin City’s saving grace has been Asian baccarat players A baccarat dealer prepares a table for play at the MGM Grand Hotel and Casino in Las Vegas