Century Casinos’ Expansion in Missouri
Century Casinos has made significant strides in Missouri’s gambling industry with the opening of The Riverview hotel, connected to Century Casino Cape Girardeau. This $30.5 million investment boasts 69 rooms across six stories, covering an impressive 68,000 square feet. Moreover, Century Casinos is not halting its expansion efforts, with a new land-based casino and hotel underway in Caruthersville, Missouri. Supported by VICI Properties, this project is set to redefine entertainment and hospitality in the region upon its expected completion in Q4 2024.
Partnering with VICI Properties
Century Casinos’ strategic partnership with VICI Properties is instrumental in fueling its expansion endeavors. VICI Properties’ involvement in funding the Caruthersville project underscores the confidence and support it extends to Century Casinos. Furthermore, VICI Properties’ acquisition of real estate assets from Century Casinos in Alberta showcases a robust financial backing, enabling both companies to explore new horizons in the gaming and hospitality sector.
Missouri Casinos Report Strong Performance
The latest report from the Missouri Gaming Commission reveals a positive trajectory in the state’s casino revenue. Despite fluctuations, Missouri’s 13 casinos collectively generated $156.9 million in adjusted gross revenue in February. This figure indicates steady growth, with February 2023 reporting $156.7 million and January 2024 at $135.4 million. Notably, Ameristar St. Charles emerges as the top performer, followed closely by Hollywood Casino, River City Casino, Ameristar Kansas City, and Argosy Casino Hotel & Spa.
A Closer Look at Top Performers
Ameristar St. Charles takes the lead in revenue generation, securing $23.9 million in February. Its consistent performance underscores its popularity and appeal among patrons. Hollywood Casino and River City Casino follow suit, reporting $20.6 million and $20.3 million, respectively. Meanwhile, Ameristar Kansas City and Argosy Casino Hotel & Spa contribute significantly to Missouri’s gaming revenue, further diversifying the state’s entertainment landscape.
State Benefits from Gaming Revenue
The surge in gaming revenue translates into increased tax contributions for the state of Missouri. In February, the state collected $32.9 million in taxes from the gaming industry, marking a notable 13% increase compared to the previous month. This underscores the symbiotic relationship between the gaming sector and public finances, where the industry’s success directly benefits the state’s economy and welfare programs.
Century Casinos’ expansion initiatives, coupled with the overall positive revenue trends in Missouri’s gaming sector, paint a promising picture of growth and prosperity. The opening of The Riverview and the ongoing construction in Caruthersville signify a commitment to enhancing the entertainment and hospitality landscape, attracting visitors and driving economic development. As Missouri continues to capitalize on its gaming potential, stakeholders can look forward to a thriving industry that benefits both businesses and the broader community.