LAS VEGAS -- Nevada's casinos are winning, according to the latest numbers released by the state. Gambling revenues are up 7 percent, with Strip properties bringing in more than half the total revenue.
Experts say the gaming industry remains the backbone of the economy and resorts on the Strip need to cater to visitors, especially the high rollers from Asia, whose game of choice is baccarat.
According to the Nevada Gaming Control Board, gaming revenue per room on the Strip went up from about $164 in 2010 to $168 in 2011. But if you remove baccarat earnings from that total, revenue would actually go down to $127 per room.
Asian tourists in town for the CES convention are not surprised to see what's happening.
"I am not surprised at all. More and more Chinese visitors come here, not just for shows, but to gamble and relax," said Alex Tu, who is visiting from Taiwan.
Experts at CBRE Global Gaming Group say despite these numbers, the gaming industry can't forget the mass market who cannot spend big money on the baccarat table. Casino operators need to capture other revenue drivers, like shows, restaurants and renovated rooms to draw in other tourists.
For now, gambling on foreign tourists, especially those who like to hit the baccarat tables, seem to be paying off for Las Vegas.
