Missouri’s casino industry experienced a slight downturn in June 2023, with the state’s 13 casinos generating a total of $154.5 million in adjusted gross revenue (AGR). This represents a 4.9% decline compared to the $163 million reported in May, according to the latest figures released by the Missouri Gaming Commission.
Revenue Breakdown by Gaming Type
The bulk of Missouri’s gaming revenue in June came from slot machines, which accounted for $132.7 million of the total AGR. This continues to highlight the popularity of slot machines among casino patrons in the state. In contrast, table games brought in $22 million, a significant but much smaller portion of the revenue pie. Meanwhile, hybrid machines, which combine elements of both slots and table games, contributed a modest $54,000 to the total revenue.
Leading Casinos: Ameristar St. Charles Tops the Chart
Among the 13 gaming properties in Missouri, Ameristar St. Charles stood out as the top performer in June, generating a substantial $24.8 million in revenue. This strong performance underscores its position as a key player in Missouri’s casino market.
Following closely were Rivers City Casino, which reported $20.9 million in revenue, and Hollywood Casino, which brought in $20.6 million. These three casinos alone accounted for a significant portion of the state’s overall gaming revenue, showcasing their dominance in the market.
Ameristar Kansas City also performed well, generating $16.3 million, while Argosy Casino Hotel & Spa rounded out the top five with $14.1 million in revenue.
Struggling Properties: Notable Revenue Declines
While the top-performing casinos managed to hold steady, several properties saw notable declines in revenue. According to the Missouri Gaming Commission’s report, Isle of Capri Booneville, Harrah’s Kansas City, Horseshoe St. Louis, and Mark Twain Casino all experienced double-digit drops in their revenue compared to May.
These declines could be indicative of broader trends in the gaming industry or specific challenges faced by these properties. For example, increased competition, changes in consumer behavior, or even seasonal factors could have played a role in the revenue decreases.
A Bright Spot: St. Joseph Frontier Casino Sees Revenue Increase
Amid the overall decline, St. Joseph Frontier Casino emerged as the only property to buck the trend, with a slight revenue increase of 0.5% compared to May. Although this rise is modest, it is noteworthy in the context of the broader market downturn and could signal a potential area of resilience or growth.
Admissions and Market Activity
In June, Missouri casinos recorded a total of 2.3 million admissions, reflecting the state’s ongoing popularity as a gaming destination. However, the relationship between admissions and revenue is complex, as evidenced by the month’s results. While admissions remained strong, the decline in AGR suggests that per-capita spending might have decreased, or that high rollers and large-scale spenders might have reduced their activity.
Market Trends and Future Outlook
The June 2023 report highlights some key trends within Missouri’s casino market. The dominance of slot machine revenue continues to be evident, with table games and hybrid machines contributing smaller, yet significant portions of the total revenue. The performance of individual casinos varied widely, with some managing to maintain or even increase their revenue, while others faced significant declines.
Looking forward, it will be important to monitor whether the revenue declines seen in June are part of a broader trend or simply a temporary dip. Factors such as economic conditions, consumer confidence, and the competitive landscape will likely influence the state’s casino revenue in the coming months.
Missouri’s casino industry saw a mixed performance in June 2023. While the overall revenue dipped compared to May, the data reveals a diverse market with varying levels of success across different properties. As the industry continues to navigate challenges and opportunities, future reports will shed more light on the long-term trends shaping Missouri’s gaming landscape.