Poker Boom 2.0? Nevada Revenues for June Come Close to 2007 Record

August 2nd, 2018 by CardsChat News

Poker tables may be steadily disappearing all across Nevada, but the game appears to be as popular as ever, at least according to the latest figures from Nevada gaming regulators.

Las Vegas poker

The World Series of Poker drew huge crowds, leading to near-record Nevada poker revenues. (Image: Las Vegas Top Picks)

Figures released by the Nevada Gaming Control Board this week show that June was one of the best months ever for poker revenues in the state, with Nevada poker rooms taking in nearly $17.5 million. It was the second-highest total for any one month in history.

Year-over-year, June’s numbers were up 4.2 percent from $16.8 million in 2017. The growing poker profitability continues a trend that started earlier in the year, as revenues in May were up 2.85 percent year over year.

Poker rooms on the Las Vegas Strip, which includes the massive temporary cash game area erected every summer in the Rio’s Pavilion Room, accounted for $14.1 million of the June totals.

Profits from poker always surge in June, as the first full month of the World Series of Poker. The June totals this year came close to a revenue record that stretches back 11 years, to the height of the poker boom.

According to UNLV’s Center for Gaming Research, poker’s high-water mark in Nevada came in June 2007, at $17.7 million.

This year’s figures include revenue from regulated online poker, something that didn’t exist in Nevada in 2007.

Tables Down, Revenue Up

There’s no doubt that poker has fallen out of favor with casino operators over the years. Tables have dried up and disappeared in droves as casinos make room for more profitable games.

But poker is still alive and well in the Silver State.

In June of 2009, there were 905 tables across 114 rooms. From there, the numbers headed south. In 2017 there were just 615 poker tables in 71 rooms, a 32 percent drop in poker real estate. However, total revenues only dropped 18.6 percent over that same period, from $145.6 million in 2009 to $118.5 million last year.

That trend is even more pronounced of late. From 2016 to 2017, 46 poker tables disappeared in Nevada, yet poker revenue was actually up by $702,000. There may be fewer tables to choose from, but the ones left are making more on a per-table basis.

Slots of Profit

Though they may be on the rise, poker revenues are but a drop in the bucket relative to the rest of the gambling market.

Over the fiscal year which ended on June 30, total gambling proceeds across Nevada casinos hit $11.8 billion, an increase of 3.2 percent over the same period last year. That number was mainly driven by an increase in slot machine profits, which at $7.5 billion, accounted for 70 percent of total revenue growth.

Sports betting has also never been more popular. A $281.6 million take by sports books for the fiscal year is a new all-time high and represents a 23 percent increase year over year.

7 Responses to “Poker Boom 2.0? Nevada Revenues for June Come Close to 2007 Record”

  1. makisaa says:

    From all the above I prefer poker. I like it much more than casino games or slots. It is a game which is more exciting and the game depends more from the players than depending from a machine like casino or slots. I believe that poker has more stable course because is higher quality game, and it is refered to people who want something real and interesting.

  2. icnbe56 says:

    Sounds like my favorite game is a real money maker 🙂 I may have to look into investing into the gambling businesses rather then just my time into playing for money !
    Maybe the reason for the actual poker tables being down would be more people playing online ? they didn’t mention the earnings from online poker though.
    It still sounds good and a worthwhile investment opportunity 🙂

  3. hellomynameiswhat says:

    Sounds like poker makes up about 1% of the gambling profit in NV. Hopefully we can gain ground!

  4. chicopaw says:

    With the ever getting closer of legalization laws of allowing poker across the United States ,i would think the internet poker scene will further reduce tables at the casinos,but special events at these places will definitly increase in attendance because of more awareness

  5. ZenGreen says:

    Dont think its an upsurge, Many poker players recieved a lot of FU crypto money last year and they got to spend it on something. Next year will have a little less players and it will keep falling. This year is just the fact that theri must be an extra billion or so in the poker enviroment thanks to crypto,

  6. Rijckenborg says:

    Playing live poker in a casino is way more fun than playing live.
    When the revenue goes up for the casino, revenue goes down for the player.

  7. jmateuspoker says:

    Poker is a very pleasant game because it is playful it involves the mind and it is democratic or it is all clear that the professionals stand out for the knowledge, and with this better results but everyone has a chance to win so I think that although the casinos have lost a bit of billing the poker community have been increasing quantitatively and qualitatively

    jmateuspoker

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