The Las Vegas Strip experienced a surge in baccarat volume, leading to increased optimism about the future of high-end properties in the area. In December, the gaming revenue hit an unprecedented $905 million, an 11.2% increase from the previous year. The popularity of baccarat among high rollers and international visitors played a significant role in achieving this milestone, with the baccarat win reaching $218.7 million, a 50.1% increase from previous figures. The baccarat volume also reached $839.5 million, the highest level post-pandemic, indicating a strong resurgence in high-stakes gaming.

Wall Street analyst John DeCree emphasized the positive performance of baccarat in November, coinciding with the inaugural Formula One race in Las Vegas, as a solid indicator for the positive trend for upscale properties. The strong baccarat win in both months serves as an optimistic sign for the higher-end properties on the Las Vegas Strip.

In addition to baccarat, the slot win on the Las Vegas Strip also hit a record high of $446 million, marking a 10.1% year-over-year increase. The table win experienced significant growth as well, increasing by 12.3% year over year, supported by a 5.5% rise in table drop. The local market also saw a boost in gaming revenue, attributed to the opening of the Durango Casino & Resort in southwest Las Vegas. December’s visitation to Las Vegas saw a 2.7% increase year over year, with an annual total of 40.8 million visitors surpassing the previous year’s figures. Additionally, daily room rates on the Las Vegas Strip experienced an uptick, rising by 5.8% year over year in December and 12.3% for the entire year.

While there is caution against drawing definitive conclusions from a single month’s figures, the overarching sentiment remains optimistic. Analysts eagerly anticipate continued growth and prosperity for Las Vegas’s renowned hospitality and gaming industry.

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