The Monte Carlo Casino in Las Vegas will be closing the doors to its poker room on April 25th.
As part of MGM Resorts International’s plans to rebrand and restructure the Monte Carlo into two new hotels, Park MGM and The NoMad Las Vegas, the venue is gradually shuttering its facilities.
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The Monte Carlo Casino in Las Vegas will lose its poker room on April 25th ahead of a major redevelopment. (Image: montecarlo.com)
Back in October of 2016 the pool and various shopping outlets were closed and in the coming weeks the poker room will join them.
With eight tables and typical cash game limits running from $1/$2 to $3/$6, the Monte Carlo’s poker room is one of the smaller places to play on the Strip. However, it was thanks to its lower limits that it became known as a place for casual players.
Strip Revenue on the Up Means More Money to Invest
Despite that fact, MGM Resorts International has plans to build two new venues in 2018 and capitalize on what appears to be an upturn in the city’s tourist trade. According to the Nevada Gaming Control Board, state casinos pocketed $11.26 billion in 2016 which is getting close to the 2012 record ($12.85 billion).
Of that figure, the Las Vegas Strip contributed 56 percent, which suggests casinos in the area are starting to generate more revenue they can then use to reinvest in more developments. However, it seems as though poker isn’t high on the list of priorities.
When the Monte Carlo closes its poker room doors, the Strip and its surrounding areas will be left with just 19 poker rooms. At the time poker was reaching its peak and numbers at the WSOP were reaching record highs (2000-2007), Vegas had 26 poker rooms boasting a total of 396 tables.
Vegas Visitors Want More than Poker
Although Nevada poker revenue hit $117.8 million in 2016, with the Strip and surrounding areas contributing $78 million to that total, it’s a long way from the money made by casino games and other industries. In fact, part of the reason for a lack of interest in poker by casino owners is the growth in business and leisure tourism.
According to director of the Las Vegas Convention and Visitors Authority (LVCVA), Kevin Bagger, a record 42.9 million people visited the city in 2016. Contributing to that record was 6.3 million convention-goers (up by 7.1 percent) as well as tourists from Asia.
With more people visiting Vegas for things other than poker, Bagger said that reinvestments for infrastructure are typically geared towards “amenities people want” such as the T-Mobile Arena and SpeedVegas.
Although the new venues that replace the Monte Carlo will likely have some form of poker room, it seems they’ll take second place to other non-poker facilities.
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