Missouri One Of The Few States With Casinos Beating The Economy
Around the country almost daily there are reports becoming public of how the economy is hurting the casino industry. State after state is reporting revenue decrease4s over previous years.
That is not the case, however, in Missouri. They are one of the few states who have their casinos still prospering in the face of a miserable economic situation.
Casino gambling revenue rose seven percent in July over the previous year. In July of 2007, gambling revenue equalled $136.9 million. This year in July, that figure jumped to $146.9 million.
It is amazing that the casinos in the state are doing so well when you consider that Missouri has an extremely high unemployment rate. Companies are continuing to downsize, leaving many people without jobs and money.
"Casinos were considered some time ago to be recession-proof. They're not. But the casinos themselves are pretty strong," said Gene McNary, Executive Director of the Missouri Gaming Commission.
He did give a reason that casinos in the state are continuing to see rising revenue. The casinos are frequented most in the state by senior citizens, who are on a fixed income. Therefore, the economy is not hurting them as much as it is the younger generation.
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