In July 2024, Kansas’s gaming industry showed mixed performance, with its casino revenue reaching $33.8 million, marking a 2.6% increase from the previous month of June 2024 ($32.9 million). However, the year-on-year comparison reveals a 1.2% decline. Despite this minor annual drop, all four of the state’s casinos saw their revenues increase when compared to the previous month, demonstrating resilience in the face of the broader national gambling landscape.
One of the most noteworthy elements of Kansas’s July gaming report is the surge in sports betting activity. The state’s total sports betting handle hit $203 million, a massive 53.1% increase over the same month in 2023. This remarkable growth indicates the expanding popularity of sports betting across the state. However, the handle did show a slight drop of 12.9% from June 2024. Revenue from sportsbooks reached $9.199 million, a 34.7% jump compared to July 2023 but a small dip of 1.8% from the previous month.
Breakdown of Kansas Casino Revenue for July 2024
Kansas’s four casinos each reported an increase in revenue when compared to June, contributing to the state’s overall positive growth in the sector.
Hollywood Casino
Leading the way, Hollywood Casino reported a July revenue of $13.7 million, positioning itself as the top earner among the state’s four casinos. The casino’s strong performance reflects its continued dominance in the Kansas gaming market. Its central location and marketing strategies may have played a role in this solid showing, drawing a consistent stream of patrons.
Kansas Star Casino
Following closely behind, Kansas Star Casino earned $12.9 million in July. Though it lagged slightly behind Hollywood Casino, Kansas Star has consistently performed well, leveraging its position as a destination for both local residents and tourists alike. Its diverse entertainment offerings and promotions might have been crucial to maintaining its competitiveness.
Boot Hill Casino
On the smaller end of the spectrum, Boot Hill Casino reported revenue of $3.8 million. Despite being smaller than its larger competitors, Boot Hill Casino saw a month-over-month increase, demonstrating growth potential and resilience. Its location in Dodge City allows it to serve a niche but loyal clientele.
Kansas Crossing Casino
Kansas Crossing Casino, the smallest of the four in terms of revenue, generated $3.3 million in July. Like the others, it experienced a rise in revenue compared to June, illustrating that even the smaller casinos in Kansas are capitalizing on the summer months to draw in players.
Kansas Sports Betting: A Closer Look at the Numbers
One of the standout highlights of Kansas’s July 2024 gaming report is the impressive performance of sports betting. The total handle, or the amount wagered by bettors, reached $203 million, representing a significant 53.1% jump compared to July 2023. This surge reflects the increasing popularity of sports betting in Kansas, which has benefited from a series of high-profile sporting events and a growing number of sportsbooks available to bettors.
However, when compared to the previous month, sports betting handle declined by 12.9%, indicating a slight cooling-off period after June’s activity.
Despite the drop in handle, sportsbooks still posted solid revenues of $9.199 million in July. This represents a year-over-year growth of 34.7%, underscoring the profitability of the sports betting sector. The slight dip in sportsbook revenue from June 2024 (a 1.8% decrease) may be attributed to the fewer high-stakes sporting events in July, along with fluctuating win rates for sportsbooks.
Kansas Casino Market: Year-on-Year Performance
While Kansas saw positive month-over-month growth in its casino revenues, the 1.2% year-on-year decline is worth examining in further detail. Several factors may explain why July 2023 performed better than July 2024. The gambling industry, like many others, is sensitive to broader economic conditions. Rising inflation, changes in consumer spending habits, and external factors like travel restrictions or fuel prices could influence visitor numbers to physical casinos.
The gaming industry is also impacted by competition from other states. For example, neighboring states that have legalized gambling or expanded their gaming offerings could be drawing some Kansas residents across state lines. Additionally, the rise of online gambling and mobile gaming apps could siphon off potential visitors from traditional brick-and-mortar casinos, a trend that may have contributed to the slight year-over-year decline.
Exploring National and Regional Trends
Kansas is not operating in isolation; the state’s gaming industry reflects some larger national trends. Across the U.S., the gaming industry has seen a post-pandemic rebound, but the pace of recovery varies by region. States with more mature gaming industries or those with significant tourism draws, like Nevada and New Jersey, tend to show more consistent growth in both casino revenue and sports betting handle.
The substantial growth in sports betting handle in Kansas mirrors trends in other states where sports betting is relatively new. The legalization of sports betting in several U.S. states in recent years has created intense competition, and Kansas’s impressive 53.1% year-over-year growth suggests that the state is benefiting from this growing industry. However, the challenge for Kansas moving forward will be maintaining this momentum in a crowded national market.
Future Outlook for Kansas’s Gaming Industry
Looking ahead, Kansas’s gaming industry appears to be on solid ground, especially in the sports betting sector. While casino revenues saw a slight year-over-year decline in July, the month-over-month growth is a positive sign. The casinos’ ability to increase revenue during the summer months suggests that they have successfully implemented strategies to attract visitors, whether through promotions, entertainment events, or improvements in gaming options.
The sports betting sector will likely continue to be a key area of growth for Kansas. As more residents become accustomed to betting on sports and as sportsbooks continue to refine their offerings, Kansas could see even more growth in this sector. The challenge will be to sustain interest during the slower months when fewer high-profile sporting events are happening.
While Kansas’s casino and sports betting revenues for July 2024 paint a mixed picture, the overall trends are positive. Casinos saw healthy month-over-month growth, and the sports betting sector showed strong year-over-year performance, pointing to a thriving market. As Kansas continues to evolve its gaming offerings, it will be interesting to see how the industry adapts to both challenges and opportunities in the coming months.