Baccarat Makes a Big Splash in Las Vegas Casinos for the Chinese New Year

On February 17, 2007, there was a lot of activity at the baccarat tables as the Las Vegas strip celebrated the Chinese New Year. A lot of Chinese tourists made a visit to Las Vegas as part of their Chinese New Year celebration. Many casino officials on the strip had their eye on the millions and millions of dollars that Asian tourists were betting on casino games during their visit to Las Vegas.

The General Manager of Caesars Palace, John Unwin, said that this is the 32nd year that they have been celebrating the Chinese New Year and it has become one of their most important events. Many casino facilities are benefiting increasingly from the Chinese spending and consumption and some developments made by prominent gambling companies in Macau. Macau, a special administrative region of China, was considered one of the most viable gambling destinations and investments in the world just last year.

But Las Vegas still draws a lot of visitors and gamblers. Just last year the total amount that the casino in Las Vegas won at the baccarat tables, which is mostly patronized by Asians, increased to about 25%, which is equal to about $832 million. That sum is second only to Blackjack, which is at $986 million, according to Nevada regulators.

Just last year, when the Chinese New Year celebration was held in January, customers placed around $827 million in total bets while playing the game of Baccarat and lost about $90.9 million, which is a whole lot more than was lost in Blackjack, Craps and Roulette table.

Brad Stone, the Executive Vice President of the Las Vegas Sands Corporation, which owns the Venetian Casino, said that the 1st quarter is considered the strongest and most profitable quarter in Las Vegas. Las Vegas Sands is also in the middle of building about 7 facilities in Macau.

Monday, March 26, 2007
Kate Foster