Missouri Casino Revenue Continues to Drop

3 years 3 months 3 weeks ago August 13, 2013 Aug 13, 2013 Tuesday, August 13 2013 Tuesday, August 13, 2013 11:32:18 AM CDT in News
By: The Associated Press

ST. LOUIS (AP) - Casinos across Missouri are reporting decreased revenue this summer, continuing a trend seen at most of the state's 13 riverboat gambling sites last year.

Overall revenues for July were more than $9.5 million less than in July 2012, a 6.3 decline. That means nearly $2 million less for state education spending derived from a gambling tax compared with this time last year. The local governments where the casinos are located will also receive less money from casino admission fees.

The Lumiere Place in downtown St. Louis reported the steepest drop, at 18 percent. Kansas City's Ameristar recorded a 10 percent revenue drop.

Pinnacle Entertainment wants to sell is Lumiere property in response to federal antitrust issues related to its planned purchase of Ameristar Casinos.

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