Reports On NV Casinos Suggest The Poker Boom Is Officially Over

Written By Martin Derbyshire on October 11, 2017
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[toc]Nevada cash game poker revenues returned to normal levels in August after the annual highs of June and July brought on by the World Series of Poker (WSOP).

The WSOP brings more than just tournaments to Las Vegas casinos in June and July. The number of cash game tables increases annually by more than 100.

This is mostly a part of the temporary WSOP footprint at the Convention Center at the Rio All Suites Hotel & Casino. Plus, cash game table revenues come close to doubling statewide every year.

In fact, Nevada cash game poker revenues were a little over $8.9 million in May 2017. However, they jumped to more than $16.6 million in June 2017.

The above-average Nevada cash game poker revenues continued through July 2017. Poker room operators across the state reported more than $12.4 million in revenue throughout the month.

However, numbers released by the Nevada Gaming Control Board last week show Nevada cash game poker revenues came back down to Earth in August 2017. The gaming board figures show the state’s 63 poker rooms raked in $8.565 million in revenue at a total of 603 cash game tables throughout the month.

Nevada cash game poker monthly revenue average

According to the UNLV Center for Gaming Research Nevada Poker 2004-2017 Analysis of Monthly Statewide Results report released in September 2017, Nevada cash game poker monthly revenues averaged $9.9 million from January 2015 through August 2017.

This represents the lowest monthly average since January 2004 to May 2005. Monthly cash game poker revenues in the state averaged $9 million at that time.

The numbers in the report bear out its conclusion that Nevada cash game poker saw an unprecedented boom from 2003 to 2006. During that time, cash game poker revenues nearly tripled.

The report shows the numbers stabilizing as well as showing small increases through the summer of the 2007. Revenues have declined steadily since that time though, with annual spikes during the time the WSOP is held in Las Vegas.

The 2017 WSOP

The 2017 WSOP was the 48th annual series. This year, the series attracted 120,995 tournament entries over its 74-event schedule. The total prize pool over the entire series was a record $231,010,874.

Of course, none of these numbers are reflected in the state’s cash game revenue statistics. However, the huge annual spike in cash game revenue numbers throughout the WSOP show the event’s impact.

The August 2017 revenue numbers were up a little more than four percent over the same month last year. Plus, 12-month revenue numbers up to the end of August 2017 hit almost $118 million. This represented a 0.21 percent increase over the same 12-month period last year.

Poker rooms on the Las Vegas Strip

The 18 poker rooms and 285 tables in operation on the Las Vegas Strip continue to produce the majority of the state’s monthly cash game poker revenue. In August 2017, Las Vegas Strip poker rooms reported $5.3 million in cash game poker revenue. This figure was up 5.7 percent from the same month last year.

Cash game poker revenues continue to represent just a small percentage of overall gambling revenues in the state. In fact, August 2017 cash game poker revenues of $8.5 million represented less than one percent of the $989.5 million in total gaming revenues reported by Nevada casinos throughout the month.

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Martin Derbyshire

Martin Derbyshire is an award-winning journalist, video and film producer with a decade of experience covering the brick and mortar casino, poker and iGaming industries. He has produced content for top media outlets including PokerNews, Bluff Magazine and PokerListings, and has crossed the globe scooping stories and interviewing major players in all corners of the high-stakes gambling world.

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