St. Louis Casinos Have Increase In Revenue For December
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One percent may not seem like a big number when discussing casino revenue increases, but St. Louis casinos will take that figure. The six area casinos increased their revenue by one percent in December.
While many casinos around the US continue to struggle with declining revenues, some even in double digits, St. Louis casinos had a strong finish to 2009. The casinos had a total of $83.2 million in revenue, up from $82.2 million in the same period in 2008.
Pinnacle Entertainment's Lumiere Place had the biggest jump in revenue figures for the month. The casino had revenue of $17.5 million, which represented an increase of eighteen percent over December of 2008. The revenue in 2008 was $14.8 million.
Lumiere Place anchored the one percent increase in St. Louis, with only Ameristar Casino experiencing a gain as well. Ameristar revenue increased two percent, to $23.9 million. Pinnacle's other facility, President Casino, has revenue of $1.8 million.
The other three casinos in the area had losses in revenue from the previous year in December. Argosy Alton was down five percent, at $5.9 million. Harrah's Casino had revenue of $22.8 million, down three percent, and Casino Queen dropped five percent to $11.6 million.
The figures were released on Monday, and Missouri officials are hoping that the increase in revenue is just the start of more increasing figures in future months. Analysts believe that the casino industry in the US will fully recover sometime in 2011.
January 12, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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