Harrah's Experiences Success Beyond Poker

During the 37th annual World Series of Poker held at the Rio All-Suites Hotel and Casino in downtown Las Vegas, Harrah's experienced a strong performance from its Rio property as a whole. In addition to having the biggest draw on the Las Vegas Strip for poker players for the month-and-a-half tournament series, the Rio also became the hot spot for table games.

According to Majestic Research, an independent firm that uses proprietary data to forecast company revenue, the Rio saw increases on all sides. Poker action increased from 22.3 percent last year to 30.9 percent this year. The casino also saw table game usage increase by 4 percent, while other Strip properties declined 3 percent.

Harrah's has banked heavily on the WSOP's future success, investing roughly $42.7 million in 2004 for the rights to the WSOP brand and use of the Horseshoe brand in Nevada. If the record-breaking success of this year's WSOP is any indication, it looks as though Harrah's business foresight is going to pay off in spades.

Traditionally, most non-WSOP poker action is found at Bellagio. According to Majestic Research, Bellagio captures 14 percent of the poker action on the Vegas Strip. Following Bellagio were The Wynn and The Mirage, both drawing roughly 11 percent of the total Strip action. Harrah's Caesars Palace is also looking to make a strong showing with its expanded poker room that is currently attracting players at an 8 percent clip.

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