As Wynn Resorts, and Las Vegas Sands opened casinos in Macau (starting in 2005), baccarat, the game of choice of many Chinese high rollers, became an increasingly important part of the bottom line in Las Vegas. The dominance of baccarat is less than 15 years old. There is an interesting pattern at work, and it speaks to a possible realignment of revenue on the Strip. And that should have casinos there worried, since even though gambling only represents about a third of their overall income, it’s a very important third, since it tends to be higher-margin than revenue from restaurants or rooms, $500 bottles of Grey Goose at nightclubs notwithstanding. Looking at the last six months, the Las Vegas Strip is still down more than one percent compared to that period in 2017, so it seems likely that this is not a blip-there is a slight but perceptible downward trend for gaming win on the Strip.
