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While many casino markets in the country experienced monthly revenue losses, Missouri managed to hold its casino win steady in July.
Revenue hit $155.2 million in July, up 0.3% and an increase of more than $400,000 from June, according to fiscal data from the Missouri Gaming Commission. The July figures are a marked improvement over June’s monthly revenue, which fell 5% from May.
Key takeaways
- If Missouri online casinos were legal, they could’ve generated an estimated $76.1 million in June.
- Missouri casinos took home $155.2 million in July, up slightly compared to June ($154.7 million).
- Seven of 13 casinos had positive revenue growth in July.
Online casinos could bring more than $70 million a month
When land-based casino revenue lags as it usually does during the summer, you can’t help wonder what casinos could do to make their revenue growth as hot as July temperatures. For Missouri, the answer is both simple and complicated: online casinos.
Simple, because online casinos are an instant money maker. The top three markets in the country — Pennsylvania, Michigan and New Jersey — produce more than $500 million in revenue each month. If Missouri were to become the eighth state in the country to legalize online casinos, PlayUSA estimates the state could’ve generated more than $70 million.
| State | May online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $216.5 million | 13 million | $16.65 |
| Michigan | $198.6 million | 10 million | $19.86 |
| New Jersey | $192.1 million | 9.3 million | $20.65 |
| Connecticut | $46.3 million | 3.6 million | $12.86 |
| West Virginia | $17.9 million | 1.8 million | $9.94 |
| Delaware | $3.9 million | 1 million | $3.90 |
| Rhode Island | $2.3 million | 1.1 million | $2.09 |
| Average | $79.8 million | 6.5 million | $12.27 |
| Missouri (projected) | $76.1 million | 6.2 million | $12.27 |
However, online casino legalization is as complicated as it is simple. Land-based casinos worry that online casinos could hurt their business, while the anti-gambling crowd worries about how high problem gambling rates will go if iGaming is legal.
Realistically, online casinos are a long way off in Missouri. The state’s lawmakers can’t seem to get out of their own way to legalize sports betting, which is typically a pre-requisite for online casinos.
Casinos manage to squeak out growth amid slow summer
July was a month of good news and bad news for Missouri casinos. The good news is that, unlike many other casino markets, Missouri saw its revenue rise.
Strong showings from Horseshoe St. Louis and Bally’s Kansas City helped push revenue past $155 million and guarantee a slight increase over June. In fact, eight casinos posted positive monthly numbers in July.
| July 2024 | Year-on-Year % Change | June 2024 | Month-on-Month % Change | |
|---|---|---|---|---|
| Argosy | $13,370,134 | -11% | $14,145,264 | -5.48% |
| Isle of Capri Booneville | $6,681,619 | -18% | $6,446,220 | 3.65% |
| Century Casino Caruthersville | $3,867,138 | -1% | $3,844,776 | 0.58% |
| Hollywood Casino St. Louis | $20,559,621 | -8% | $20,655,177 | -0.46% |
| Harrah's Kansas City | $12,724,515 | -17% | $12,557,598 | 1.33% |
| Century Casino Cape Girardeau | $5,846,004 | -7% | $5,927,678 | -1.38% |
| Bally's Kansas City | $11,754,334 | 9% | $11,152,546 | 5.40% |
| Horseshoe St. Louis | $11,941,117 | -15% | $10,993,465 | 8.62% |
| Ameristar Kansas City | $16,833,897 | -5% | $16,338,393 | 3.03% |
| River City Casino | $20,675,628 | -7% | $20,972,197 | -1.41% |
| Mark Twain Casino | $2,829,692 | -11% | $2,822,935 | 0.24% |
| Ameristar St. Charles | $24,087,952 | -6% | $24,811,884 | -2.92% |
| St. Joseph Frontier Casino | $4,020,687 | 3% | $4,070,030 | -1.21% |
| Total | $155,192,338 | -8% | $154,738,164 | 0.29% |
The bad news is that revenue dropped 8% compared to July 2023. Several casinos saw double-digit declines in yearly revenue, including Isle of Capri Booneville (-18.5%), Harrah’s Kansas City (-17.2%), and Horseshoe St. Louis (-14.9%).
That being said, one casino managed to improve its revenue: Bally’s Kansas City. The property raised its revenue from $10.8 million last July to $11.8 million this past month.
