Poker bucks the global “recession” trend

In a sea of bad news for nearly every retailer, manufacturer, and even Casinos around the globe, it seems that poker is the one area that appears recession proof. The two year old Poker Room at The Venetian got off to a slow start but has really gained traction this year, despite the recession.

Thanks to the popular “Deep Stack Extravaganza” tournaments that attract hundreds of locals and tourists alike each day, the Poker Room has posted a more than 100% increase in revenue compared to November of last year. Even though the casino is struggling and seeing profits slip through the door, the Poker Room near the blackjack tables continues to hum along.

While poker only generates a rake that’s nowhere near as profitable as a slot machine or video poker game, the gamblers that it attracts do tend to gambler their bankroll in other parts of the casino. They also have to eat and often do so at the nicer restaurants on a casino property. It may be a bit of irony that during this time of economic crisis that the Poker Room , which was once a dying breed, is the workhorse on the casino floor now.

Thanks to the strong leadership of Kathy Raymond, who ran the poker room at the super sized Foxwoods Casino in Connecticut; the Poker Room at The Venetian is one of the most popular and profitable on the strip in Vegas. In fact, her leadership has been so strong and the room so immensely popular, that they’re building more tables for the next Extravaganza event in February of 2009. She sums the success up with this statement, “Poker is not just an amenity here,” Raymond said. “It’s a part of the complete offering.”