Nevada Poker Revenue in June Best Since 2007August 4, 2017 10:54 am
Last month, Nevada’s poker rooms saw a 3.3% increase in their revenue to $16.67 million compared to June 2016, representing the state’s best month since collecting $17.6 million back in June 2007.
The solid figure was helped along by the 6-week long WSOP which drew to a close at the end of June, with 120,995 players taking part in the tournament series, making it the most popular in the competition’s 48-year history. Having such a huge uptick in visitors in Nevada subsequently meant more players gambling at the casinos’ cash poker tables.
June’s poker revenue was generated from 731 tables across the Silver State, with that number 10% less than the 960 poker tables that were present in June 2007. Furthermore, there are currently 42 less poker rooms in Nevada versus a decade ago when the state boasted 104 rooms.
Putting the figures into a historical context, the poker boom sparked by Chris Moneymaker winning the 2003 WSOP Main Event saw Nevada’s average monthly poker revenues increase to $9 million between January 2004 and May 2005, and then $13 million between 2006 to 2008. Black-Friday of 2011 subsequently decimated the industry, but numbers have since started to improve with an average of $9.9 million having been collected each month from January 2015 to June 2017.
Overall, Nevada’s gambling industry generated a total of $895.4 million in June, marking an almost 1% gain over the same month last year, and four straight months of year-on-year growth this year. As a result, the state casino revenues are now up by 3.3% in H1 of 2017 versus the first six months of 2017. June also brought to an end the fiscal year, and once again Nevada noted an improved performance with revenue higher by 2.9% at $11.4 billion compared to fiscal 2015/16 when revenue came in at $11.1 billion.
As is traditional, slot games provided the lion’s share of revenue, with business up by 2.9% to $7.3 billion, although baccarat went in the opposite direction with revenue dropping by 2.9% to a mere $1.2 billion.