St. Louis Casinos Down 4% To $90m In May

admin, June 11, 2013 12:02 pm

St. Louis Casinos Down 4% To $90m In May The Missouri Gaming Commission and Illinois Gaming Board has released its casino results for May, revealing a 3.8% decline in revenue to $90.5 million compared to May 2012.
The latest results represents over half a year of declining growth for St. Louis’ casino industry, with the previous increase in year-over-year revenue recorded in October, last year. A number of factors have contributed to St. Louis’ disappointing 2013 figures, including a weak economy, a series of unusually high jackpots which have been paid out recently by the casinos, as well as some atrocious weather.
During one Friday in May, for instance, three tornadoes slammed the St. Louis region knocking out the power lines for thousands of businesses and homes. This was then proceeded by some of the worst rains ever recorded, with Lambert-St. Louis International Airport receiving 1.74 inches, breaking the old record of 1.72 inches recorded in 1906.
In total, the independent city of St. Louis in the state of Missouri has six casinos, of which just the Casino Queen in East St. Louis recorded a 6.2% year-over-year increase in revenue to $11.5 million in May. All the other casinos saw their revenues drop in May, including the Hollywood Casino down 9.3% to $20.6m; Ameristar St. Charles down 5% to $21.5m; Lumiere Place down 3.4% to $13.5m; River City down 2.4% to $17.7m; and the Argosy Alton down 1.5% to $5.7m.

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