Nevada baccarat win dips on chinese play

Nevada baccarat win dips on chinese play

Union Gaming Group LLC analyst told GGRAcia that Nevada casinos baccarat victories in July fell 23% year-on-year, part of a recent pattern related to easing Chinese demand. a href= www.slotmachinesite.com target= _blank title= ????? ?????/ a The win minus bets from July earnings in the Baccarat sector, as defined by the University of Nevada, Las Vegas, fell 23.1% year-on-year to $140.8 million, compared with a statewide decline of about $100.8 million in April. Total baccarat wins in Nevada fell 38.2% year-on-year to just under $272.36 million in the three months from May to July, data released Friday by the Nevada Game Management Committee showed. The July trend is a continuation of the pattern that has appeared for some time. In MGM Resorts [International] s second-quarter earnings report, we specifically pointed to weakness in Chinese demand, Union Gaming Group s Grant Goversen told GGRAcia on Monday. Las Vegas Strip Baccarat winnings fell 20.8% year-on-year in July, while total payments to Baccarat fell about 35% year-on-year during July, data showed Friday. Streep s total win revenue was $525 million, down 2.1% year-over-year. We note that the Baccarat comp [compare] becomes easier in the fall , Cameron McKnight of Wells Fargo Securities LLC said in a note on Friday. In our view, the weaknesses of [Las Vegas] strip baccarat play are partly related to China s anti-corruption initiatives and the monitoring of Chinese visitors in Las Vegas, Mr McNight added. In MGM Resorts second-quarter earnings call on Aug. 4, the company s chief financial officer, Dan D Arrigo, said the casino operator sees a persistent weakness in China-funded play. It is not offset by some other recovery in other Asian markets that we are seeing, and it is not fully offset, but we are seeing recovery in some other markets in Asia, the executive added. Sales of slot machines across Nevada rose 5.5% year-on-year to close to $643 million in July. In July, the Nevada Game Management Board said casinos across the state made $922.9 million in revenue, down 1% from the same month last year. William Scott, corporate strategy and special adviser at MGM Resorts International, which owns 51% of Macau casino operator MGM China Holdings Ltd at the Global Gaming Expo (G2E) Asia in Macau in May, said 80% of Las Vegas VIP gambling revenue came from Chinese customers. Las Vegas relies more on ordinary and current Macau gamblers than investors and markets understand, according to a paper published in May by Morgan Stanley Research.