September was a good-news/bad-news month for Missouri casinos.
The good news is that yearly revenue was up 0.5%. The bad news? Monthly revenue dropped 2.9%, according to the newest Missouri Gaming Commission (MGC) figures.
However, the silver lining to that monthly decline: Horseshoe St. Louis put together a stellar September, shooting past its August revenue by more than 17%.
Key takeaways
- Missouri land-based casino revenue fell 2.9% in September.
- Year-on-year revenue was up 0.5%.
- Online casinos could bring Missouri operators more than $1 billion a year.
Missouri is missing out on $1 billion in online casino revenue
Online casino revenue isn’t included in Missouri revenue reports because they aren’t legal. Unfortunately, that won’t change any time soon.
The Show Me State has been slow to expand its gaming industry. Like many states, land-based casinos are legal. However, legislators have been trying to legalize online casinos (also called “iGaming), land-based sportsbooks, and mobile sportsbooks.
As a result, gaming operators are limited to land-based casino gaming revenue. While land-based casinos consistently bring in $140 million or more per month, that number could be considerably higher if iGaming was legal.
PlayUSA estimates that Missouri online casinos could’ve generated more than $100 million in August, the most recent month in which all seven US states with iGaming reported revenue:
State | August online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
---|---|---|---|
Pennsylvania | $225 million | 13 million | $17.31 |
New Jersey | $198.4 million | 9.3 million | $21.33 |
Michigan | $196.7 million | 10 million | $19.67 |
Connecticut | $44.6 million | 3.6 million | $12.39 |
West Virginia | $20.4 million | 1.8 million | $11.33 |
Delaware | $5.8 million | 1 million | $5.80 |
Rhode Island | $3 million | 1.1 million | $2.73 |
Average | $99.1 million | 5.7 million | $17.42 |
Missouri (projected) | $108 million | 6.2 million | $17.42 |
Over the course of a fiscal year, online casinos could bring Missouri gaming operators more than $1 billion in revenue.
Horseshoe St. Louis has excellent September, tempers statewide losses
In September, monthly casino revenue fell $4.8 million from Missouri’s August 2024 gaming revenue. However, that figure could’ve been much worse had it not been for a standout performance from Horseshoe St. Louis.
The MGC’s September 2024 revenue report reveals the casino was the only one in the state to post more than 6% growth, rocketing to a 17.4% increase. Three other casinos had positive month-on-month numbers:
- St. Joseph Frontier Casino: +5.8%
- River City Casino: +2.5%
- Argosy: +0.2%
September 2024 | August 2024 | % change | |
---|---|---|---|
Ameristar St. Charles | $24,603,845 | $25,503,125 | -9.51% |
Hollywood Casino St. Louis | $20,493,084 | $22,930,250 | -0.28% |
River City Casino | $21,539,857 | $21,648,839 | 2.50% |
Ameristar Kansas City | $16,856,797 | $17,738,788 | -10.63% |
Argosy | $12,784,105 | $14,127,128 | 0.18% |
Harrah's Kansas City | $13,833,161 | $13,808,967 | -14.45% |
Bally's Kansas City | $11,749,600 | $11,860,379 | -0.93% |
Horseshoe St. Louis | $13,635,874 | $11,618,381 | 17.36% |
Isle of Capri Booneville | $7,204,755 | $7,224,867 | -4.97% |
Century Casino Cape Girardeau | $5,223,198 | $6,105,617 | -0.50% |
St. Joseph Frontier Casino | $3,741,316 | $4,282,672 | 5.80% |
Century Casino Caruthersville | $4,023,483 | $3,925,252 | -3.53% |
Mark Twain Casino | $2,876,153 | $2,718,514 | -12.64% |
Total | $158,565,228 | $163,358,811 | -2.93% |
Year-on-year, casinos fared better.
Whereas nine out of 13 casinos had monthly revenue losses, only six out of 13 saw yearly drops. Bally’s Kansas City and Century Casino Caruthersville led the way with 19.5% and 11.9% gains, respectively.
As such, revenue rose 0.5% from $157.8 million to $158.6 million.