Hudson Securities Las Vegas Gaming Report (LVS, MGM, WYNN)

Hudson Securities is out with a mid-day note reviewing the recent Las Vegas gaming metrics released by the Nevada Gaming Control Board. The analysts noted that Las Vegas Strip gaming win was up 12.9% to $527.3 million. For the 1Q11, strip gaming win was -0.4%. Due to the two month lag in reported Nevada revenue results, the analsayts feel that the March numbers are already baked into 1Q earnings for Las Vegas Snads LVS, MGM Resorts International MGM, and Wynn Resorts, Limited WYNN. The strength in the March numbers was driven almost entirely by table games and not just baccarat, as we saw craps, blackjack, and roulette report a strong March. That said, the comp on these games was favorable as in March 2010 craps was down 34% and roulette was down 33%.