Wall Street is thrilled with the latest June financial figures for Strip resorts just released this morning (FRI). In comparison with June of last year (2006) they show revenues increased a whopping 13.3% on the Strip which boosts the statewide figures to an overall 5.7% increase. Strip revenues totalled $500-million and the State figure was just 41 million shy of $1-billion.

On a 3rd day of tumbling share prices across the board on Wall Street the Vegas numbers were the only silver lining to the dark clouds hanging over financial markets.

Bear Stearns Vegas banker Joseph Greff commented: ” Strip trends were solid with total win growing 13.3% as a result of higher drop (+13.0%) and a slightly higher hold percentage (+ ~10 bps). Table win was up 38.4% as 20.0% growth in table drop and a 180 bps improvement in table hold combined to generate the robust results. Baccarat revenues were
up 5.9% in June.”

Further details are developing as other statistics are being released by the Nevada Gaming Control Board- but all indicators are that Vegas is busier and more profitable than ever

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