Missouri Casino Gambling Holding Steady Despite Economy

This is not the best of times for casinos in the US, but in Missouri, the casino industry is surviving the economy quite well. The June figures have been released and casino revenue fell by only one percent.

Even though it is a decrease in revenue, compared to other states, the decline is small. Casino revenue in June totaled $135.7 million. The month also marked the end of the fiscal year for casinos, and that is where they saw their improvement over the previous year.

Revenue for the fiscal year was up four percent. There were several factors that contributed to the increase to $1.7 billion for 2009. State voters approved repealing the states loss-limits. Lumiere Place, the newest casino destination in St. Louis, was open for the full fiscal year of 2009.

In 2008, Lumiere Place was only open for half the fiscal year. The state has found a way through the expansion and the loss-limit repeal to stay on par with past years even in the face of a recession. As the economy turns around, the revenue figures should jump for Missouri casinos.

Up until 2008, the revenue figures in Missouri had always risen. The recession caused the numbers to slip in 2008, but they rebounded in 2009. This year so far casinos in the Kansas City area have posted three of their top ten revenue months of all-time.

Other states, in particular Nevada and New Jersey, have seen their revenue figures decline by double-digits for the past several months. The two gambling centers in the US, Atlantic City and Las Vegas, have been hurt the most by changing casino gambling laws in other states.

July 14, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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