Nevada Poker Revenue Up 0.6% to $118M In 2017February 12, 2018 5:10 pm
In 2017, Nevada’s poker rooms generated $118.4 million in revenue, representing a slight 0.6% increase worth an extra $800,000 compared to the previous year. Encouragingly, the amount won by the state’s 71 poker rooms was the highest recorded since the $119.9 million collected in 2014, although the figure is still significantly lower than the market’s peak of $167.9 million in 2007.
Nevertheless, Nevada continues to dominate the country’s gambling market in all areas, with its poker market almost double that of Pennsylvania ($59m) and New Jersey ($54m), and nearly three times that of Maryland ($44.5m).
Another highlights of Nevada’s poker market last year was December’s tally of $9.5 million, which marked eighth consecutive month of growth. Furthermore, June’s revenue of $16.6 million represented that month’s best result since 2007, and highlights the increasing popularity of the WSOP which runs from the end of May to mid-July.
According to a report compiled by Dr. David Schwartz, director of UNLV’s Center for Gaming Research, entitled “Nevada Poker: The Evolution,” the Silver State offered 615 poker tables in 2017, of which 300 were located in Las Vegas. These then accounted for 66% of all poker revenues in 2017, or $78.5 million, while Washoe County raked in $6.5 million from its 57 poker tables.
The study examined the state of Nevada’s poker industry from 1992-2017, and while the number of tables is higher than its pre-2003 boom era, it is still well below the 106 card rooms and 886 poker tables available in 2006, or the 907 poker tables during the state’s peak time of 2007. The downward trend appears to show no signs of abating for now, either, with the number of poker rooms having fallen for seven consecutive years since enjoying a high of 114 in 2009.
That said, the average revenue per table has steadily risen over the past eight years, and in 2010 generated around $147,000 a year, compared to nearly $193,000 in 2017. Last year’s figure also represents an 8% improvement compared to 2016, and was the third highest in state history behind the golden years of 2004 ($204,339) and 2005 ($200,000), a time when poker enjoyed its most popular following to date.