Poker room earnings(LC)

[Frond]

Just was thinking in the car today about cardrooms and just how much revenue they are making on their rakes. Hard to say exactly but has anyone ever tried to figure roughly what a room is making per day on drops? Say a room has 50 tables and the drop is $4 max per hand. Lots of ifs here I know: How many hands per hour are dealt, how many tables are going, how many hours a day the tables are going on avg etc. Just curious.

[Howard Beale]

I have only 'figured it out' to the following extent:

I know that if I owned 3 tables that spread 3-6 HE w/ a $4 drop that ran 18 hours/day each I would be living in a villa on the French Riviera, driving an Aston Martin V-12 Vanquish and dating Italian supermodels. Steak and lobster every night washed down with Bollinger RD and nothing but sunshine and blue skies for the rest of my life.

[Don Olney]

You guys forget the extra cost of a poker table.
Here in Las Vegas each table pays a TAX if you will each month.
Does not matter if the table was used or not.
Each dealer if even at $5.50 an hour cost the casino damn near double that. workman's comp., unemployment insurance, medical insurance etc.
Now you have floor staff, poker room manager, lights, drinks and such.
IT ADDS UP

[AngusThermopyle]

SJ cardroom:
40 hands hr X $4 drop = $160 hour
No comps. You pay for your food and drinks.
Dealers, chip runners, floor paid minimum plus benefits.
City gets a cut. Around 13% of the drop.

[RR]

There is a lot of revenue, but there are also a lot of costs.

[Don Olney]

there is a lot of revenue. But it is not what a lot of people think after the cost factor.

If tables and rooms made the kind of cash people think it does there would be a lot more BIG PLAYERS in the poker room business.

[Howard Beale]

[ QUOTE ]
There is a lot of revenue, but there are also a lot of costs.

[/ QUOTE ]

Not when you put the tables in the backroom of 'Howard's Bar and Grill' there aren't. Which is one reason that so many clubs keep trying it in NYC. When I played at the old Mayfair Club 'we' figured that they were taking in $2mil/yr. Sure, they had some staff, but there were no dealers. I'm wondering if the dealers that are now used in the NY clubs actually draw a salary or just make out w/ their tips.

[BobbyShaftoe]

More importantly for most locales and regulatory environments, usually poker rooms don't make bat guano compared to the same square footage of slot machines.

I suspect that most poker rooms are designed with the premise of how much they will enhance slots and pit revenues.

[NoPoHustler]

[ QUOTE ]
More importantly for most locales and regulatory environments, usually poker rooms don't make bat guano compared to the same square footage of slot machines.

I suspect that most poker rooms are designed with the premise of how much they will enhance slots and pit revenues.

[/ QUOTE ]

ding ding ding

[sirpupnyc]

NJ CCC's monthly financial reports sometimes include itemized breakdowns of revenue casino-by-casino rather than just total house win. CCC news page--the summaries on the financial page don't seem to include the same.

Gross Revenue for Poker for January 2007:
AC Hilton: 19 tables, $189,611
Bally's: 30 tables, $315,994
Borgata: 117 tables, $3,429,116
Caesars: 24 tables, $526,315
Harrah's: 34 tables, $309,869
Resorts: 8 tables, $65,456
Showboat: 24 tables, $421,977
Tropicana: 48 tables, $996,764
Trump Marina: none
Trump Plaza: none
Trump Taj: 70 tables, $1,636,783

So the little guys take $10kish/table/month and the big three probably do about $20kish/table/month. January included the Borgata Winter Open and Caesars WSOP circuit for extra-high numbers there.

(Seems like they do OK on poker...but the Borg took just under $26,000,000 from table games and just over $34,000,000 from slots the same month. Doesn't look like so much then...)