Las Vegas Strip Poker Rooms Rake $8.6M In July –

The 18 poker rooms on or near the Las Vegas Strip took in $8.6 million worth of rake from their cash games in July, according to state figures.

There were 390 tables during the month. The revenue was off slightly from the $8.9 million raked in July 2017, when there were 395 tables. June of this year saw Strip-area poker revenue of $14.1 million, up more than six percent year-over-year. June’s statewide total of about $17.5 million nearly broke the single-month record.

Over the 12 months prior to Aug. 1, 2018, the Strip-area poker rooms took in $79.5 million, up more than two percent compared to the same period a year prior.

In terms of year-over-year revenue change for the 12 months, traditional poker on or near the Strip is outperforming blackjack (down 2.8 percent to $891 million), three-card poker (down 7.4 percent to $94.6 million) and mini-baccarat (down 15.5 percent to $55.4 million).

Poker grew slightly more than craps (roughly 2 percent vs. 1.5 percent).

Another way to look at it: The poker revenue growth over the aforementioned 12 months nearly matched growth for all non-machine gambling (2.12 percent). It’s common knowledge by now that the state’s main casino corridor is relying less on gambling dollars than in the past. Poker is holding strong in this environment.

With that said, the casino corridor isn’t done shedding its poker supply. Late last month, the Treasure Island casino-hotel shuttered its seven-table room, leaving the Las Vegas Strip area with 17 poker rooms. In 2007, which was the height of the poker boom in Nevada in terms of market size, there were 26 Strip-area poker rooms.

Read More Here...

This entry was posted in Casino Gambling Stocks News. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Your email address will never be published.