Nevada’s poker revenue keeps dropping

Nevada’s January poker revenue fell 5 percent as it raked US$9 million, mainly due to a decrease in the number of rooms across the state.

US.- Nevada’s 65 poker rooms collected a total of US$9 million in January, 5.3 percent less than last year’s US$9.5 million during the same period. According to gaming regulators, the nearly 600 tables across the state reached a revenue of US$15.100 each in the first month of 2017.

The main reason for this decrease is that the 596 poker tables operating last month were the fewest for any single month since February 2005. In 2016, there were 661 that totalled the US$9.5 million revenue, that was actually 2.9 percent less than 2015’s figure. January 2014 was the last time that revenue increased during the first month of the year as it jumped 7.6 percent to reach US$10.2 million.

That being said, last time the US$15.000 mark was broken was in 2007, when the 881 tables gathered US$15.700 to achieve a combined US$13.9 million.

The state has been gradually shutting down tables since the peak of the poker boom. Nevada’s market will keep shrinking as the Monte Carlo Resort and Casino on the Las Vegas Strip plan to close their eight-table room in April. The Strip area will have only 19 rooms after the decision becomes effective.

Poker’s US$27.3 million revenue during the last three months falls two percent short from the amount won during the same period last year. Poker rooms raked US$117.8 million from cash games in 2016, decreasing two-tenths of a percentage point from last year.