St. Louis Casino Revenue Drops Slightly In June

Casinos around the country have come to dread this time of month. State gaming officials are releasing revenue figures and what used to be a joyous time has turned into a nightmare for casinos. For June, however, the figures have not been as bad as expected.

St. Louis casino revenue dropped only slightly, by three percent, in June. That is according to figures that have been released by the Missouri Gaming Commission and the Illinois Gaming Board. The three percent is the drop from the same month in 2008.

The total revenue was $82.3 million for June, compared to $84.9 million in June of 2008. Of the six casinos in the area, two of them, Lumiere Place and President Casino, saw their revenues increase year over year.

"What we are now seeing is that people are starting to slowly go back to casinos in the US," said observer Wally Berman, "although the economy is still down, the initial shock is over and people have started to adjust their finances."

Casino Queen in East St. Louis had the worst revenue drop of all casinos in the area. Their revenue fell twelve percent to $12 million. Harrah's and Ameristar both had their revenue drop five percent to $22.9 million and $23.9 million, respectively.

President Casino is owned by Pinnacle Entertainment, and their revenue increased 113%. In June of 2008, $857,680 was made, while in 2009 the casinos revenue increased to $1.8 million. Lumiere Place jumped six percent, to $14.7 million.

July 10, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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