Nevada Poker Revenue Increases Despite Loss of Card Rooms

Within the past year, the state of Nevada has seen five poker rooms shut down, including the Monte Carlo. The Hard Rock closed their poker room in March which made even less poker tables available. Despite the loss of gaming tables, the state’s poker rooms still saw an increase in revenues when comparing year-on-year totals for the month of May. According to Nevada Gaming Control Board figures, the state earned $8.9 million which is a 0.38% increase from May 2016.

In May 2016, Nevada offered 67 poker rooms with 755 gaming tables. This May, the state was down to 724 tables in 62 poker rooms. The majority of revenues earned came from the Las Vegas Strip where 18 poker rooms are located with just under 400 gaming tables. For May, the Strip earned $5.7 million.

The World Series of Poker began on May 31st at the Rio All-Suite Hotel & Casino which should help to push revenue numbers even higher for June into July. The 2017 WSOP has been quite successful with players coming to Las Vegas from around the world to take part. The state always sees higher revenues at this time due to the massive amount of poker tournaments in play. With the gold bracelet events, side events, qualifiers, etc., there is a ton of money floating around Sin City right now.

Events are seeing a great player turnout with the $50,000 Poker Players Championship eight-game mix event being one that saw a nice increase of entries when compared to last year. The buy-in to this event is quite high but 100 players have ponied up the cash in order to hopefully be in the top 15 and earn a cash prize. $4,800,000 is up for grabs with the winner set to earn just over $1.3 million.

We shall see in the coming weeks how the poker rooms fared for June, and it will not be surprising to see revenue totals jump due to WSOP events.

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