River City Casino In St. Louis Makes Immediate Economical Impact

Missouri is one of the state that has expanded casino gambling in the past couple of years. St. Louis County, in particular, has added new casinos. The Rivers Casino is the newest of all the gambling facilities, and it is making an immediate economical impact.

On Monday, state regulators released figures in which the casinos in the region experienced their best revenue numbers ever. River City, which opened only on March 4th, took in $15.9 million. It was the third highest grossing casino in St. Louis.

The news was not all good for St. Louis casinos. Casino Queen had their revenue drop eleven percent. Ameristar and Lumiere Place both had revenue losses of eight percent from the same period in 2009. Harrah's Casino was down six percent.

St. Louis has recently stated that they would like to keep the President Casino license in the city once the casino gives the license back to the state. Pinnacle Entertainment agreed to close the President Casino in July.

Pinnacle owns Lumiere Place and River City and has indicated that it may be willing to go after the vacated license from the President Casino. Missouri only allows thirteen licenses, and regulators will be taking applications for the thirteenth license in the next couple of months.

The Midwest has been much like the rest of the country when it comes to casino expansion. Gambling has become a prime target for lawmakers who have been searching for ways to combat budget shortcomings stemming from the economic recession.

April 13, 2010
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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