Monte Carlo Folds ’Em

The Las Vegas Strip resort is closing its poker room after some 20 years as the property moves forward with a $450 million program of renovation and expansion. Poker revenues have been on the slide in Vegas and statewide in Nevada for 10 years. Seven venues have closed on the Strip alone over that time.

Monte Carlo Resort and Casino on the Las Vegas Strip is closing the poker room it has operated since the last 1990s as part of a 0 million renovation that will add two new hotels to the resort.

The closing leaves the Strip area with 19 poker rooms with a combined 276 tables.

At the height of the poker boom in Vegas in 2007 there were 26 rooms on or around the Strip, with a combined 396 tables. Since then, seven rooms have closed as revenue has fallen by some $90 million over the last decade.

Across Nevada last year there were 73 poker rooms with 661 tables that generated a combine rake of $117.8 million, more than 60 percent of it on the Strip.