St. Louis Casino Revenue up 1.2% to $1.025BN in 2017

St. Louis launched its casino market back in 1994, and currently consists of six riverboat casinos, or just under half of the 13 casinos spread out across the state of Missouri. In 2017, its casino market subsequently generated $1.025 billion in revenues, or 1.2% more compared to 2016. Nevertheless, the results are still significantly lower than when the industry hit a peak of $1.8 billion in 2011.
The region’s biggest money earner, the Ameristar on the Missouri River, saw a 1.9% gain to $22.4 million in December to end the year with revenues of $262.2 million, or 0.8% more than in 2017.
Next highest was the nearby Hollywood Casino which was up by 3.9% to $20.2 million in December, and by 1.7% to $237.8 million for the year; followed by the River City up by 2.5% in December and higher by 0.7% to $225.7 million for 2017.
Elsewhere, the Hollywood Casino collected $20.2 million (+3.9%) in December, and $237.8 million, (+1.7%) for the year; the Casino Queen took $8.3 million (-6.5%) in December and $102.1 million (-6.5%) for 2017; and finally Casino Argosy Alton posted a 7.2% gain to $3.8 million in December, but still finished the year with its revenues lower by 2.3% to $48 million compared to 2016.
Looking ahead, casino operators are increasingly coming to the realization that antiquated riverboats are no longer competitive compared to their land-based equivalents. Neighboring Illinois, for instance, which currently has 10 riverboat venues, passed a law last May to allow five land casinos to be built in the state.
Meanwhile, Louisiana’s Riverboat Economic Development and Gaming Task Force has been lobbying to have the state’s riverboat law requiring casinos be on waterways overturned. Commenting upon the development, State Sen. Ronnie Johns (R-Lake Charles) said:
“There will be some opposition but the legislature as a whole realizes the impact this industry has on our state’s budget.”
While there are expected to be no new developments this year as far as Missouri’s gambling industry is concerned , although its lawmakers have indicated that they may take advantage of a positive outcome in New Jersey’s Professional and Amateur Sports Protection Act (PASPA) case in the US Supreme Court by introducing sportsbooks to its riverboat casino operations.