In July, Missouri’s 13 casinos experienced a slight setback in their financial performance, with a 1% year-on-year drop in adjusted gross revenue. The Missouri Gaming Commission’s latest report reveals that the casinos collectively generated $168.5 million, down from the $169.3 million reported in July 2022. This decline follows a revenue figure of $155 million in June of the same year.
Revenue Breakdown:
Among the top-performing casinos, Ameristar St. Charles claimed the lead with $25 million in revenue, closely followed by Hollywood Casino at $22.3 million and Rivers City Casino at $22.2 million. Ameristar Kansas City and Harrahs Kansas City reported revenues of $18 million and $15.3 million, respectively. These figures provide insights into the diverse financial performances across Missouri’s casino landscape.
Tax Collection:
Despite the dip in casino revenue, the state’s tax collection from gaming witnessed an increase, reaching $35.4 million in July compared to $32 million in June. Understanding the tax implications adds another layer to the economic impact of the casino industry in Missouri.
Sports Betting Legislation:
On a legislative front, the fate of sports betting in Missouri remains uncertain as House Bill 556 failed to progress through the Senate during its recent session. Sponsored by Representative Dan Houx and passed by the state House in March, HB556 aimed to introduce sports betting in Missouri for the fifth consecutive year.
Key Provisions of HB556:
The proposed bill would have permitted up to 39 mobile skins for both casino operators and sports teams in Missouri. In-person sportsbooks could have been established at the state’s 13 riverboat casinos, with sports teams enjoying exclusion zones around their venues. The oversight of sports betting activities would have been entrusted to the Missouri Gaming Commission.
Challenges and Setbacks:
The failure of HB556 to advance in the Senate underscores the persistent challenges faced by sports betting advocates in Missouri. Despite multiple attempts, the state has yet to fully embrace the legalization of sports wagering, leaving potential economic benefits and regulatory frameworks untapped.
As Missouri’s casino industry navigates through slight revenue fluctuations, the unresolved status of sports betting legislation adds a layer of uncertainty to the state’s gambling landscape. While some casinos continue to thrive, the legislative hurdles surrounding sports betting highlight the ongoing debate over regulatory frameworks and economic opportunities in the evolving world of gaming.