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The latest poker news from, featuring top stories from around the gambling industry.
Once the Monte Carlo closes the doors to its eight-table poker room next month Las Vegas will be down to about one quarter of the tables it had a decade ago.
The shutdown is part of the $450 million renovation that will be taking place at the casino and is nothing new to the industry as oftentimes gaming floors adjust to customer demand.
The live poker boom came and went after Chris Moneymaker’s historic win at the World Series of Poker in 2003. Since then, the game’s appeal has been weakening in Las Vegas and casinos have been accommodating to the phenomenon.
The peak of poker rooms came in 2007 and according to David Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas, casinos added more tables to supply the demand.
As demand decreases then casinos adjust and revenue from the game has gone from $97 million to $78 million in the past year. As a result the amount of tables went from 405 to 320 total.
However, poker has never been a good game for casinos as they only make marginal profits from hosting the games but wagers are placed amongst players and not against stacked odds.
Several casinos have closed down poker rooms in recent years, most notably The Hard Rock, Ellis Island, Palms and the Tropicana. Most casinos have found poker rooms to not be as profitable as other options and as a result this trend is expected to continue.