Many people have the perception that gambling revenues in Nevada focus around casino games first, then sports, and then poker, but the latter is coming off an impressive month. On Wednesday, it was announced that Nevada poker rooms delivered a total of just under $9 million in the month of February alone. If that number holds up for every month of the year, poker would deliver more than $100 million in winnings this season.
The number in February was particularly encouraging to the Silver State as it showed the most important thing that investors want to see: Growth. According to the figures unveiled by the Nevada gaming regulators, the poker revenue proved to be a 5.44 percent increase year-over-year compared to February 2015. That’s important news as it was a rebound. There were a lot of concerns after the January figures were released, showing a decline in the numbers. In January 2016, $9.5 million was raked in, which is a healthy number, but it’s a 2.85-percent decline from January 2015.
Overall, the state had 71 poker rooms operating in the month of February to go with 660 tables. In January, the state ran the same amount of tables, although the number of rooms in February decreased by one. It was an encouraging sign that there was year-over-year growth without the need to increase the amount of tables and rooms offered.
The February increase was a significant rise in action and was the highest year-over-year increase in any single month since January 2014. The first month of 2014 was a huge success for Nevada as they collected over $10 million, representing a 7.56-percent climb from January 2013.
As we approach the end of March, there will be a lot of eyes keeping close tabs on the third report of the year. Nevada poker rooms delivered just over $118 million in 2015, which is a slight decline over the 2014 numbers, which showed $119.9 million. The bigger concern is the trend line as 2013 saw $123.9 in revenues, so we’ve now seen two years of decreasing action. The hope is that a strong February followed by a strong March can foreshadow a strong year for poker in Vegas.