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Foxwoods Fears Not a Poker Slump
The star of poker might finally be falling, according to analysts.
Television ratings for poker games were down in 2005 from 2004, and the same
was true for live play. In Nevada, the average poker table brought in less
money last year than the one before, the first time there was a decline in
the game in years according to gaming reports. There is belief that the
popularity of the sport, which has been fired up by televised tournaments
and online gambling sites, will continue to rise, but not at the explosive
levels of the last four years.
The Foxwoods Resort Casino in New Haven, Connecticut, will nevertheless
proceed with its increase in the size of its already formidable poker room.
The only poker room in New England, which is already one of the largest in
the United States, is going to increase its number of tables from 76 to a
whopping 114. This will allow over 1,100 players to participate in games
simultaneously. On the other hand, the increased size will take away space
from more lucrative forms of gambling such as slots and other table games.
Despite indications that poker is a fading fad, though, Foxwoods remains
optimistic about its expansion. Even on weekdays, it continues to have
lineups for people wanting to get into a poker game. Spokespeople point out
that one of the fastest growing demographics- in fact, the biggest
demographic and still growing- in online poker are college student, many of
whom are not yet legally allowed to play in casinos. They predict that even
if the industry slows down, it will not really level off for another three
years or so.
Casinos make money off of poker by taking a small percentage of each pot. A
casino can easily match or exceed a poker table’s earnings with a handful of
slot machines, without paying a dealer or support staff. With the red
hot poker craze right now, however, a poker room at a casino has other
benefits not as tangible as the per game profit margin. There is a large
marketing potential as well as the build up of brand loyalty. The Foxwoods
poker room, for example, is partnered with the wildly popular World Poker
Tour, and the opening of the room will feature a kickoff game hosted by
Carmen Electra, in which the final table will be televised.
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