Strip revenue down 1.5 percent in April

Las Vegas Strip gross gaming revenue declined 1.5 percent year-on-year in April, which was offset slightly by an increase in baccarat revenues, said UBS in a note on Friday.

According to the brokerage, gaming revenue ex-baccarat was down 4.3 percent, while baccarat revenue increased 10 percent year-on year in April.

However, overall the results were still below UBS analysts’ expectations for the market, which was estimated at the low single digits.

Year to date, gaming revenue was down 1.6 percent year on year, with ex-baccarat gaming revenue staying relatively flat at -0.3 percent, and baccarat revenue down 7 percent year on year.

Baccarat is extremely popular among Chinese casino patrons, making up the majority of table games in Macau.

Last month, it was announced that the Civil Aviation Administration of China approved Hainan Airlines to operate three direct weekly flights from Beijing to Las Vegas which, according to Union Gaming at the time, would help the region secure better Mainland Chinese visitation, frequency and length of stay.