Share
In a place known as the “Show-Me” state, there wasn’t much to show for Missouri casinos in April.
Casino customer and revenue counts were down 6% and 7% year-on-year, respectively, and only one casino saw its win grow compared to April 2023. Month-on-month, revenue dropped from $175.4 million in March to $156 million this past month, according to the latest data from the Missouri Gaming Commission.
The state’s casino struggles come amid a frustrating battle in the state legislature to pass any online casino or sports betting law that could bring a considerable influx of revenue for casinos.
Key takeaways
- Missouri online casinos are illegal but could become legal if online sports betting goes live.
- It’s been a tough year for Missouri casinos.
- Only one casino posted positive annual gains in April.
- Missouri’s three biggest casinos need to turn things around.
Missouri online casinos are likely a long way off
As Missouri casinos struggle to show growth year-on-year, it brings up questions about what legislators can do to ensure that the state’s gaming industry provides a consistent and helpful amount of tax revenue.
Many state legislatures have passed sports betting bills that allow online and in-person sports wagering. Those decisions have led to tens of millions of dollars flowing into state coffers across the country. In many cases, that money is used to fund programs that improve things like infrastructure and education.
However, only seven states have legalized and launched online casinos. It’s a harder sell than sports betting since many states have brick-and-mortar casinos concerned about losing revenue to online counterparts.
With that in mind, we likely won’t see Missouri online casinos for at least a couple of years. Sports betting has been impossible to pass in the legislature. And at times, lawmakers have said the debate over sports wagering devolved into chaos. With the sports side of gaming facing such stiff opposition, online casinos have little hope in the future.
That could change, however, this November. There’s a push to put sports betting to the ballot, where Missouri residents can vote on whether or not they want sports betting in their state.
Missouri’s casino revenue sees annual and monthly decrease
The state’s 13 casinos generated $156 million in adjusted gross revenue in April, down 11.1% compared to March. Yearly, revenue was down 6.6%.
| Casino | April 2024 Revenue | Year-on-Year % Change |
|---|---|---|
| Argosy | $13,902,115 | -6% |
| Isle of Capri Booneville | $7,342,057 | -10% |
| Century Casino Caruthersville | $4,018,300 | -1% |
| Hollywood Casino St. Louis | $19,775,069 | -7% |
| Harrah's Kansas City | $12,785,882 | -9% |
| Century Casino Cape Girardeau | $6,102,862 | 5% |
| Bally's Kansas City | $11,088,231 | -1% |
| Horseshoe St. Louis | $12,198,532 | -11% |
| Ameristar Kansas City | $16,340,822 | -9% |
| River City Casino | $21,282,770 | -4% |
| Mark Twain Casino | $2,942,373 | -7% |
| Ameristar St. Charles | $24,133,621 | -9% |
| St. Joseph Frontier Casino | $4,018,012 | -7% |
| Total | $155,930,647 | -7% |
Though revenue totals weren’t favorable in April, there were some bright spots. For example, Century Casino Cape Girardeau‘s revenue was up 5% year-on-year for the second consecutive month.
Year-to-date, several casinos are seeing an increase in revenue in fiscal year (FY) 2023-2024 compared to FY 2022-2023:
- Century Casino Caruthersville: Up 7%
- Hollywood Casino St. Louis: Up 1%
- Century Casino Cape Girardeau: Up 5%
- Bally’s Kansas City: Up 6%
Can Missouri casinos rebound from their slump?
We’ll most likely see Missouri casinos struggle over the next few months. Nationally, casino revenue tends to drop through the summer before spiking in September.
So, expect to see revenue numbers slump month-on-month. It’s also likely that annual revenue comparisons will be uninspiring, following trends that kicked off the year.
The one factor that could change Missouri casinos’ luck is the performance of its biggest revenue-earners. Only three of the state’s casinos consistently post revenue above $20 million: Hollywood Casino St. Louis, River City Casino, and Ameristar St. Charles.
Hollywood is up 1% in FY 2023-2024 but hasn’t seen year-on-year growth since February. River City is down 3% during that same time, and Ameristar’s FY revenue is 5%. River City and Ameristar haven’t had positive year-on-year growth since December.
