The Big One has started, the one Poker Tournament all Poker players want to win!
http://www.lvrj.com/business/large-field-expected-in-poker-tournament-s-main-event-161640845.html
But How Big is it?
That, we won’t know for sure until early next week when all the buy-ins are tallied, when the exact prize pool is calculated, and the total number of entries is finalized.
Just think of the scope of this event, accommodating 5000 players in a Poker Tournament at one sitting is not a small feat.
Here are just a few of the logistical and operating questions the Rio had to plan for,
Where do you round up 500 poker tables?
Who and how many workers do you need to set them up and break them down as the player field begins to dwindle?
Where do you find 1500 to 2000 competent Poker Dealers? (maybe more, depending on how often the tables change dealers) Who hires them? Trains them? Who does background Checks on them?
How many event supervisors and observers does 500 active tables need?
How large of a chip inventory is needed?
How many of each denomination is needed, remember lower value chips are removed as levels progress, who and how many casino personnel are responsible for this?
Who plans the table breaks, and player movement as play progresses?
Who secures the player chip stacks when play breaks for the day, where are they stored, how are they inventoried?
How many waitresses do you schedule to insure all players have adequate service.
How many food service outlets and house keeping personnel do you schedule for a convention room that large?
How large of Security staff is needed? That’s a lot of people to be watching for card cheats, chip stealing, pick pockets and such.
What about medical staff? When you put that many people in one area, there are bound to be some medical issues arising.
These are just the main components, there are many more behind the scenes things going on, that we didn’t even think of.
This totally boggles the mind, and shows the extent of the cost, preparation and planning that is needed to hold an event this large.
How much does something like this cost?
How much does this boost the Las Vegas Economy?
Based on last years numbers, here’s an idea.
(keep in mind I am not an economic advisor or accountant, this is just my take on what I have seen)
Last years event drew 6865 players at $10K a pop, that equals $68, 650, 000
The prize pool was approximately $64,500,000
Leaving a cut for the house of $4,150,000. That’s a 6% rake for the Main event
Now we can assume this amount paid for the actual costs of running the event, including wages, rentals, security and everything involved.
I am sure this was at least a break even promotion, the real profits come from all the foot traffic generated from all the side games (Ring tables, Sng’s and last minute players trying to turn a $1000 satellite into a $10K entry).
I can’t even imagine the amount of actual casino play generated.
How much is attracting 7000 players for 4 days, hotel, dining, shopping etc. worth?
I’m basically a frugal person, but the last time I was in Vegas I spent about $250 a day just to live–no gaming included (that I kept separate), so a minimum guess would be 7000 X $1000 (over 4 days) or $70,000,000.
That’s just for the players who actually enter and play in the Main Event, not even considering wives, girlfriends, husbands, kids who came with them to cheer them on.
Plus there is everyone who just happened to pick this week end for a Las Vegas getaway and don’t even play Poker. I bet there are many who didn’t even know it was this week end.
Put it all together and we can guess that,
Just the players in the Main Event this week end are easily adding over $100,000,000 to the Las Vegas Economy.
Like I said, I’m probably way off, and not even close..but I have always found numbers like this extremely interesting and completely astounding….
If anyone out there has anything more specific to add or has more accurate numbers or methods of calculating How big is the Main Event, please let us know..I’m always looking for more!
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