Missouri Casinos See 6% YOY Revenue Increase In January

Written By J.R. Duren on February 23, 2023
January 2023 Revenue Missouri Casinos

Missouri casinos generated $153.7 million in adjusted gross revenue last month. That’s up 5.7% from January 2022, according to the most recent revenue report from the Missouri Gaming Commission (MGC).

Ten of the state’s 13 casinos saw their revenue increase year-on-year (YOY), while just one had a decline in revenue compared to January 2022.

Overall, casinos brought in roughly $8.2 million more year-on-year.

Four Missouri casinos drive January’s revenue growth

A quartet of properties was responsible for the majority of the state’s  revenue increase last month:

CasnioYOY Revenue Increase by %YOY Revenue Increase by $
Bally's Kansas City19%$1.8 million
Argosy14%$1.8 million
Horseshoe St. Louis12%$1.3 million
River City10%$1.9 million

Bally’s KC, Argosey, Horseshoe St. Louis, and River City combined for a $6.8 million increase in revenue over January 2022. They accounted for more than 75% of the revenue growth generated by all casinos last month.

Three casinos struggle to increase revenue

Of the state’s 13 casinos, only three saw either 0% growth or negative growth.

Ameristar SC, the biggest revenue generator in the state, and Hollywood Casino St. Louis had 0% growth. A granular look at the two property’s revenue numbers reveals slight growth from Ameristar (around $24,000) and a slight decline from Hollywood (around $42,000).

Century Casino Cape Birardeau was the only casino to show a significant revenue drop. The property’s revenue declined from $5.6 million in January 2022 to $5.3 million last month, a 5% drop.

However, the casino’s decline didn’t impact the state’s overall numbers because its monthly revenue is among the lowest in the state.

Cashless slots could help boost revenue in coming months

Late last month, the MGC approved technology that allows casinos to offer cashless slots.

Missouri casinos caught on quickly and now account for more than half of the casinos nationwide that use the new technology.

The technology allows players to deposit money into an app, then move that money to a slot machine instead of depositing physical money into the machine. Everything happens on the player’s phone.

This is a player-friendly move that makes the casino experience more fluid. And because of that, cashless slots may positively impact casino slot revenue.

Any boost to slot revenue will be a positive for Missouri casinos, as slot machines accounted for roughly 90% of all money bet at casinos in January.

Photo by Graphic by PlayUSA
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J.R. Duren

J.R. Duren has covered the gambling beats for more than a dozen states for Catena Media since 2015. His past reporting experience includes two years at the Villages Daily Sun, and he is a first-place winner at the Florida Press Club Excellence in Journalism Contest.

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