NEVADA ECONOMY: Funk and fear in February (

OK, now it's time to panic.

Despite a month that included Chinese New Year, Super Bowl weekend, the three-day Presidents Day weekend, a favorable calendar and one extra day thanks to the leap year, gaming revenues statewide fell almost 4 percent in February, giving Wall Street cause for concern.

On the Strip, casino revenues were down 3 percent from a year ago due to a lower hold percentage in baccarat and other table games. Meanwhile, the locals casino market also experienced a revenue drop.

"Gaming revenues have been soft this year. However, we believe the decline is not as bad as expected," Deutsche Bank gaming analyst Bill Lerner said in a note to investors Wednesday. "Still, with room rates down this quarter and gaming revenue declining, it is clear that Las Vegas is feeling the impact of a difficult economic environment."

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