In August, the cash game poker revenues in Nevada reverted back to normal levels, following the annual peak in June and July caused by the World Series of Poker (WSOP).
Not only does the WSOP bring tournaments to Las Vegas casinos in June and July, but it also causes the number of cash game tables to increase by over 100 each year.
This primarily constitutes the temporary WSOP layout at the Rio All Suites Hotel & Casino’s Convention Center. Additionally, the revenues from cash game tables nearly double annually across the state.
Indeed, Nevada’s cash game poker revenues amounted to just above $8.9 million in May 2017. Nevertheless, these revenues experienced a significant increase, exceeding $16.6 million the following month in June 2017.
Poker room operators across Nevada reported over $12.4 million in revenue in July 2017, continuing the trend of above-average cash game poker revenues in the state.
The Nevada Gaming Control Board, last week, revealed figures indicating a drop in cash game poker revenues in Nevada for August 2017, after a high surge. According to the gaming board’s statistics, the 63 poker rooms in the state gathered a total of $8.565 million in revenue from 603 cash game tables throughout the month.
Nevada cash game poker monthly revenue average
The UNLV Center for Gaming Research’s report on Nevada Poker 2004-2017 Analysis of Monthly Statewide Results, released in September 2017, revealed that from January 2015 to August 2017, the average monthly revenue from Nevada’s cash game poker was $9.9 million.
This signifies the lowest average monthly revenue since the period of January 2004 to May 2005. During that time, the state’s monthly average revenue from cash game poker was $9 million.
The report’s figures confirm its conclusion that Nevada experienced an unprecedented surge in cash game poker from 2003 to 2006. In this period, revenues from cash game poker almost tripled.
The report reveals a stabilization and slight rise in numbers throughout the summer of 2007. However, revenues have been on a consistent decline since then, despite annual increases during the period of the WSOP event in Las Vegas.
The 2017 WSOP
The 48th annual series of the World Series of Poker (WSOP) took place in 2017, drawing in 120,995 tournament entries over the course of its 74-event schedule. The series set a record with a total prize pool amounting to $231,010,874.
Naturally, the state’s cash game revenue statistics don’t include these numbers. Nevertheless, the significant yearly increase in cash game revenue during the WSOP demonstrates the event’s influence.
Revenue numbers for August 2017 increased by a little over four percent compared to the same month the previous year. Additionally, the 12-month revenue figures leading up to August 2017 reached close to $118 million, marking a 0.21 percent rise from the same 12-month timeframe last year.
Poker rooms on the Las Vegas Strip
The majority of the state’s monthly cash game poker revenue continues to be generated by the 18 poker rooms and 285 tables operating on the Las Vegas Strip. In August 2017, these poker rooms reported a cash game poker revenue of $5.3 million, a 5.7 percent increase compared to the same month in the previous year.
The revenue from cash game poker still only comprises a small fraction of the total gambling revenues in the state. To illustrate, in August 2017, Nevada casinos reported total gaming revenues of $989.5 million, of which cash game poker revenues, amounting to $8.5 million, made up less than one percent.
