[toc]The count of poker-playing venues in Nevada is continuously decreasing. Despite this, the revenue they produce seems to be maintaining a stable rate as casinos gear up for the yearly surge that comes with the World Series of Poker (WSOP).
The Nevada Gaming Control Board has revealed statistics indicating a decrease in the number of poker rooms across the state from 71 in March 2016 to 66 in March this year. Furthermore, the data showed a drop in the total number of operating poker tables in Nevada, from 655 in March 2016 to 596 in March 2017.
This represented a decline of seven percent and nine percent, respectively.
Nevada poker revenues hold firm
Yet, the most astonishing figure is the income produced by these poker rooms. In March 2016, the poker revenues in Nevada were $9,678,000, generated from its 71 poker rooms and 655 tables. Interestingly, in March 2017, despite having fewer poker rooms (66) and tables (596), the state generated nearly the same amount in poker revenues – $9,608,000.
The difference of $70,000, which represented a decrease of less than one percent, clearly indicated that the amount of poker being played in Nevada is relatively stable, despite the decreasing number of venues.
Indeed, despite the continual decrease in the number of tables, the revenue each table generated significantly increased. As of March this year, the average income per table in Nevada reached $16,120. This shows a notable rise from the $14,775 recorded in March 2016.
The Strip leads the poker market
It’s evident that Clark County is the hub of poker activity in Nevada, housing 40 out of the state’s 66 poker rooms. This includes the renowned Las Vegas Strip, which is home to 20 poker rooms and 277 poker tables. The Strip is also responsible for generating 63 percent of the state’s entire poker revenue.
The annual World Series of Poker (WSOP), starting at the end of May, is set to significantly increase poker revenue numbers for both the Las Vegas Strip and Clark County.
The commencement of the first bracelet events is not until May 31. Nevertheless, the Daily Deepstacks tournaments kick off at the Rio All Suite Hotel and Casino on May 30.
The 2017 WSOP will take place from May 30 to July 17, featuring a 49-day schedule packed with bracelet events, satellites, cash games, and Daily Deepstacks tournaments. Beyond attracting thousands of poker players to the Rio over six weeks, the WSOP traditionally offers much more.
This attracts players to various tournament series and cash games in poker rooms throughout Las Vegas. Consequently, it significantly boosts Nevada’s poker revenue figures during this annual period.
The WSOP creates an annual revenue boom
Indeed, in June 2016, poker rooms in Nevada reported a revenue of over $16.1 million. This marked the highest revenue month since June 2009 for the state’s poker rooms. The record month for poker revenue in Nevada’s history was in June 2007, when it reached $17.66 million.
The WSOP set records in 2016, with a total of 107,833 entries. This led to prize pools surpassing $221 million. Comparable figures are anticipated for 2017.
Besides the yearly surge in Nevada’s poker revenues, a significant rise is also anticipated in online poker revenues this year. This is largely attributable to WSOP.com hosting an unprecedented number of bracelet events and online satellites into live WSOP events.
