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Major Casino in Las Vegas Closes Poker Room

Great Value – Kings Vs. CavsThe main casino strip losed another poker room when the Luxor closed its nine-table room on June 18. The end of the card room follows Monte Carlo’s move to close its poker room last month. Both Luxor and Monte Carlo are MGM property.

The poker supply in Las Vegas is set to get a little thinner: Also, the three-table poker room at Hard Rock closed past March. Twenty two poker rooms in Las Vegas have closed within the last six years and change, leaving Sin City with about three dozen rooms.

The end for Luxor’s poker room will leave the Las Vegas Strip area with only 18 poker rooms and around 260 tables. During the poker boom in Nevada in terms of market size, in 2007, there were 26 Las Vegas Strip poker rooms and more than 390 tables.

The change by Luxor comes at a time of little growth for poker in Vegas. Between May 2016 and May 2017, the strip area poker rooms took in $77.6 million from cash games, which is virtually unchanged compared to the same period a year before.

According to Michael Lawton, Senior Research Analyst for the Nevada Gaming Control Board, the proliferation of casinos across the United States has decreased the need for players to travel to Nevada to play poker. “At this point the consensus is that traditional poker will not experience any significant growth without a national interactive component to support growth in traditional poker by introducing new players to the game.”

Nevada launched online poker in 2013, but with a deficiency of liquidity those games haven’t been as vigorous as anticipated originally. Nevada’s online poker market is worth around $7 million per year.

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The commencement of Nevada’s poker boom began early in 2004, when the $98.9 million in statewide revenue was a 44.8 percent upsurge over 2003. It grew by another 42% in 2005 to $140.2 million. Though Nevada poker has deteriorated since 2013, it’s still a bigger market than it was in the early phases of the poker boom. Poker is still more popular than it ever was preceding 2005.

MGM will still have a strong poker mark in Las Vegas after June 18. The casino giant has poker rooms in Aria (with 24 tables) and Bellagio (with 37 tables).

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