In May 2024, Missouri’s 13 casinos reported a notable increase in revenue, generating a total of $163 million in adjusted gross revenue (AGR). This figure represents a 5% increase from the $155.9 million reported in April. The data, provided by the Missouri Gaming Commission, highlights a positive trend in the state’s gaming industry.
Top Performers
Among the casinos, Ameristar St. Charles led the way with an impressive $25.2 million in revenue. This strong performance underscores its position as the top performer in the state’s gaming sector. Following Ameristar St. Charles, Rivers City Casino reported $21.4 million, while Hollywood Casino closely trailed with $21.2 million. Ameristar Kansas City and Argosy Casino Hotel & Spa reported revenues of $17.1 million and $14.9 million, respectively.
Year-on-Year Revenue Growth
Out of the 13 casinos, nine experienced an increase in revenue compared to the previous year. This year-on-year growth indicates a robust recovery and expanding market in Missouri’s gaming industry. The state’s total tax revenue from these casinos amounted to $34.2 million.
Century Casinos’ Expansion Efforts
Century Casinos has been actively expanding its footprint in Missouri. In April 2024, the company launched a new hotel, The Riverview, in Cape Girardeau. This $30.5 million investment resulted in a 69-room, six-story hotel that is directly connected to the existing Century Casino Cape Girardeau. The new facility spans 68,000 square feet and aims to enhance the overall guest experience at the casino.
Additionally, Century Casinos is constructing a new land-based casino in Caruthersville, Missouri. This project, which began in December 2022, includes a 38-room hotel. The completion of this new casino is anticipated in the fourth quarter of 2024, further bolstering the company’s presence in the state.
Implications
The increase in AGR for Missouri’s casinos reflects a positive trajectory for the state’s gaming industry. The notable growth of 5% from April to May, coupled with year-on-year revenue increases for the majority of casinos, suggests a strengthening market. The tax revenue collected, amounting to $34.2 million, underscores the economic impact of the casino sector on the state’s finances.
Century Casinos’ investments in new facilities highlight a strategic approach to expanding their market share and enhancing their competitive edge. The opening of The Riverview and the development of the Caruthersville casino are expected to attract more visitors and drive further revenue growth.
Missouri’s casino industry continues to demonstrate resilience and growth, with May 2024 marking a significant upturn in revenue. As the sector evolves with new developments and expanding facilities, it will be interesting to observe how these trends influence future performance and revenue figures.