Poker tables keep decreasing on Nevada casino floors - WFMJ.com News weather sports for Youngstown-Warren Ohio

Poker tables keep decreasing on Nevada casino floors

Posted: Updated:
  • NationalMore>>

  • Family, home still unfamiliar to Honduran baby

    Family, home still unfamiliar to Honduran baby

    Saturday, July 21 2018 6:50 PM EDT2018-07-21 22:50:13 GMT
    (AP Photo/Esteban Felix). Adalicia Montecinos holds her year-old son Johan, who became a poster child for the U.S. policy of separating immigrants and their children, at a restaurant in Yojoa, Honduras, Friday, 20, 2018. Johan arrived in San Pedro Sula...(AP Photo/Esteban Felix). Adalicia Montecinos holds her year-old son Johan, who became a poster child for the U.S. policy of separating immigrants and their children, at a restaurant in Yojoa, Honduras, Friday, 20, 2018. Johan arrived in San Pedro Sula...
    A baby who came to embody the Trump administration's family separation policy is back with his parents in Honduras after five months.More >>
    A baby who came to embody the Trump administration's family separation policy is back with his parents in Honduras after five months.More >>
  • Inspector warned duck boat company of design flaws last year

    Inspector warned duck boat company of design flaws last year

    Saturday, July 21 2018 6:49 PM EDT2018-07-21 22:49:49 GMT
    (AP Photo/Charlie Riedel). A man looks at an idled duck boat in the parking lot of Ride the Ducks Saturday, July 21, 2018 in Branson, Mo. One of the company's duck boats capsized Thursday night resulting in several deaths on Table Rock Lake.(AP Photo/Charlie Riedel). A man looks at an idled duck boat in the parking lot of Ride the Ducks Saturday, July 21, 2018 in Branson, Mo. One of the company's duck boats capsized Thursday night resulting in several deaths on Table Rock Lake.
    A private inspector says he warned the company operating duck boats in Missouri about serious design flaws, less than a year before the accident that killed 17 people.More >>
    A private inspector says he warned the company operating duck boats in Missouri about serious design flaws, less than a year before the accident that killed 17 people.More >>
  • MGM turns to never-tested law to sue Vegas shooting victims

    MGM turns to never-tested law to sue Vegas shooting victims

    Saturday, July 21 2018 6:48 PM EDT2018-07-21 22:48:32 GMT
    (AP Photo/Ronda Churchill, File). FILE - In this Oct. 2, 2017 file photo, an American flag waves near a police barricade on the Las Vegas Strip with the MGM Grand hotel and casino in the background after a mass shooting in Las Vegas. The unprecedented ...(AP Photo/Ronda Churchill, File). FILE - In this Oct. 2, 2017 file photo, an American flag waves near a police barricade on the Las Vegas Strip with the MGM Grand hotel and casino in the background after a mass shooting in Las Vegas. The unprecedented ...
    The unprecedented move from MGM Resorts International to sue hundreds of victims of last year's mass shooting in Las Vegas relies on an obscure U.S. law never tested in court.More >>
    The unprecedented move from MGM Resorts International to sue hundreds of victims of last year's mass shooting in Las Vegas relies on an obscure U.S. law never tested in court.More >>

By REGINA GARCIA CANO
Associated Press

LAS VEGAS (AP) - When the Monte Carlo casino closes its eight-table poker room in about a month as part of a $450 million overhaul, the Las Vegas Strip will be down nearly a quarter of the tables it had a decade ago.

Casinos constantly adjust their floors to meet customer demand. And unlike the boom years when they competed for card fans after everyman Chris Moneymaker won the World Series of Poker's main event in 2003, poker's appeal in Sin City has been weakening this decade.

Some casinos have made their poker rooms smaller. Others have eliminated them entirely.

"Casinos added more tables in response to popularity, and once it became less popular, they took away the tables," said David Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas. The peak of the poker room was 2007.

In 2002, before fans of Texas Hold 'Em began to rush to the Strip, casinos had 144 tables and made $30 million from the game. Five years later, casinos had more than tripled their poker revenue to $97 million with 405 tables. Last year, the game netted them only $78 million after the number of tables decreased to 320.

The situation is similar across the state. Casinos had 907 tables and made $168 million in 2007. Last year, they took in $118 million from 661 tables.

Even the game's proponents understand poker has never been a big moneymaker for casinos. That's because instead of gambling against the stacked odds of the house as they do in blackjack or slots, players wager against one another and the casinos take a portion as a fee for hosting the games.

Casinos were willing to do that to keep players in their establishments while the game's popularity soared. The boost was fueled by the rise of internet gambling and a watershed moment in 2003 when Moneymaker, as an amateur, won $2.5 million as people watched on TV.

The landscape drastically changed in 2011, when the federal government cracked down on internet poker and blacked out major sites - a moment poker enthusiasts refer to as "Black Friday."

MGM Resorts International, the owner of the Monte Carlo, attributes its decision to close the property's poker room to an overhaul that includes a full rebranding with the launch of a new luxury hotel named Park MGM and a version of the widely acclaimed NoMad Hotel. The company's nearby Aria and Bellagio properties have poker rooms.

The Hard Rock Casino Hotel east of the Las Vegas Strip closed its poker room earlier this month. Other Vegas casinos that have shed their poker room since 2010 include Ellis Island, Palms and Tropicana.

Property officials carefully choose games for their valued space and are always looking to maximize their revenue per square foot. Meanwhile, floors are generally smaller overall as casinos have morphed into full-service resorts with nightclubs, shopping areas, restaurants and other amenities.

"Gaming has become a smaller portion of the overall revenue mix and things like poker rooms are candidates for further evaluation as to whether they make sense or not at a casino property," said Brian Gordon, a principal at the Las Vegas-based research firm Applied Analysis.

Caesars Palace, owned by the company that owns the World Series of Poker, relocated and downsized its poker room by two-thirds in 2015. But the revenue it now generates is much higher per square foot, said Seth Palansky, the tournament's spokesman.

"We recognized the room was bigger than it needed to be," Palansky said. "You can make a lot more money per square foot with a nightclub-dayclub these days than you can with a poker table."

___

Follow Regina Garcia Cano on Twitter at https://twitter.com/reginagarciakNO / More of her work can be found at https://www.apnews.com/search/ReginaGarciaCano

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • More NewsMore>>

  • Mahoning: Patrol conducting OVI checkpoint on US-62

    Mahoning: Patrol conducting OVI checkpoint on US-62

    Saturday, July 21 2018 6:48 PM EDT2018-07-21 22:48:18 GMT

    The Ohio State Highway Patrol is expected to reveal more details Saturday about an OVI checkpoint scheduled for that evening.

    More >>

    The Ohio State Highway Patrol is expected to reveal more details Saturday about an OVI checkpoint scheduled for that evening.

    More >>
  • 'Hungry Man' frozen dinners recalled

    'Hungry Man' frozen dinners recalled

    Saturday, July 21 2018 2:53 PM EDT2018-07-21 18:53:54 GMT

    The U.S. Department of Agriculture's Food Safety and Inspection Service has issued a public health alert for certain 'Hungry Man' microwavable dinners.  According to a press release, there are concerns that the products may be contaminated with Salmonella from whey powder that has been recalled by the producer of the ingredient.  FSIS sais that they are issuing the public health alert out of caution to make sure that consumers are informed and aware that these products, wh...

    More >>

    The U.S. Department of Agriculture's Food Safety and Inspection Service has issued a public health alert for certain 'Hungry Man' microwavable dinners.  According to a press release, there are concerns that the products may be contaminated with Salmonella from whey powder that has been recalled by the producer of the ingredient.  FSIS sais that they are issuing the public health alert out of caution to make sure that consumers are informed and aware that these products, wh...

    More >>
  • One arrested after woman found shot in Youngstown

    One arrested after woman found shot in Youngstown

    Saturday, July 21 2018 11:04 AM EDT2018-07-21 15:04:17 GMT

    One person was arrested early Saturday morning after a woman was found shot on Youngstown's south side. Youngstown police were called to Hilton Avenue around 4:30 AM Saturday for the report of shots fired.  Once on scene, they found 32-year-old Denise Thurston slumped over in the driver's seat of a car with a gunshot wound to the head. Thurston was taken to Mercy Health in critical condition and is undergoing surgery. Police arrested 31-year-old Terrance Edmonds at the scene.&...

    More >>

    One person was arrested early Saturday morning after a woman was found shot on Youngstown's south side. Youngstown police were called to Hilton Avenue around 4:30 AM Saturday for the report of shots fired.  Once on scene, they found 32-year-old Denise Thurston slumped over in the driver's seat of a car with a gunshot wound to the head. Thurston was taken to Mercy Health in critical condition and is undergoing surgery. Police arrested 31-year-old Terrance Edmonds at the scene.&...

    More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms