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Rio Reaps The Rake

By Chuckmonster on Tuesday, 19th July 2005 8:24pm
  » filed under Las Vegas  comments: 0


One Wall Street analyst has already dubbed it the "World Series of Poker Effect."

Matthew Jacob of Majestic Research said this month's famed poker tournament, which left the Rio resort Thursday after beginning in early June, did much more than just attract hordes of poker fans to the Harrah's Entertainment Inc. property.

The World Series of Poker "was a strong traffic generator for the entire casino," Jacob said in a research report released today.

Harrah's spokesman David Strow said the tournament boosted the Rio's gaming and non-gaming business.

"The World Series of Poker had a very positive impact on the Rio's operations during the six-week period," Strow said, noting that it wasn't just the new business that made the company's 2004 purchase of the World Series of Poker brand from former owner Becky Binion Behnen such a great move for the company.

The national media exposure for the Rio and for Harrah's has been invaluable, he said. And more big-time exposure is yet to come, with ESPN scheduled to broadcast the championship event and many other WSOP tourneys. The 2004 event's broadcasts -- shown again and again over the past year -- draw big cable audiences.



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