From the New York Times:
“This is a Las Vegas version of Chinese New Year,” Mr. Zhu said. “It’s its own thing, but we love it.”
So do casino executives. Chinese New Year, a 15-day celebration that is set by a lunar calendar and that usually falls in late January or early February, has become one of the city’s most profitable events, drawing thousands of Asian and Asian-American visitors and hundreds of millions of their dollars each year.
The city’s tourism board does not keep statistics on the event’s economic impact, but executives with Las Vegas Sands Inc., which owns the Venetian, say more money is bet during the two-week period than at any other time during the year. “The Chinese New Year is longer than anything,” said the company’s president and chief operating officer, William P. Weidner, “and we see much higher per-player action.” [Full text]
