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Baccarat Table Heats Up as The Chinese New Year Approaches
Baccarat tables heat up every Chinese New Year, during January-February, as Chinese players get in the mood to play baccarat, the most popular casino game in Asia.
To celebrate the festivities, Las Vegas casinos gear up with decors of dragons and Chinese characters. Baccarat earnings during Chinese New Year are doubled as Chinese tourists start their year by testing their luck at the baccarat tables.
According to the General Manager of Caesars Palace, John Unwin, this year will be the 32nd time that their casino will be celebrating the Chinese New Year and they consider the holiday a very important occasion.
The 2 week festivities also attract high rollers. In 2006 alone, players during the Chinese New Year celebration wagered $827 million on the baccarat tables and lost over $90 million more than they lost on blackjack, roulette and craps.
According to Jimmy Wike, Caesars Palace's Vice President of Table Games, high rollers during the Chinese New Year period often make the maximum bet of $150,000 and by casino rules, they must have a credit line or deposit worth at least $3 million. Last year, Las Vegas casinos revenue on baccarat had a 25% increase to $832 million.
The Chinese New Year celebration, beginning on Sunday in Las Vegas casinos, will feature leading Asian performers and dragon dances across the Strip.
Monday, March 19, 2007