Missouri casino revenues reflect uninspiring January

Article by : Charles Perrin Feb 14, 2024

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Missouri casinos appear to have plateaued, according to the latest figures published by the Missouri Gaming Commission.

Broadly speaking, January 2024 was a largely turgid month for casinos across the USA, with many states experiencing declines.

The numbers posted for Missouri’s 13 licensed gaming facilities encompassed the subdued feeling in the state. Indeed, a total win of over $26.5 million largely matched the revenue recorded for the same month in 2023.

To date, January 2022 remains the most productive month for Missouri casinos with a 25% uptick recorded in revenues compared to the same corresponding period in 2021.

However, the easing of pandemic restrictions will have gone some way to contributing to the rise in revenues.

Nevertheless, the general narrative appears to indicate Missouri casinos matched some of their previous performances across designated criteria.

Based on the current fiscal year through the first seven months, Missouri casinos won just over $1 billion from players through poker, slots, and table games, representing a slight drop from the first seven months of FY2022-2023.

That said, fees and taxes were essentially very similar to what they were in the previous fiscal year.

In January, Missouri received $32.8 million in admission fees and collected $228 million in gaming taxes, but it’s not all doom and gloom.

Interestingly, over the past few months, Missouri has been deliberating over new legislation to increase the state’s casino admission fee, even though the riverboats have harbored reservations about the potential impact it could have.

If anything, Missouri operators have fared better than some of their counterparts, and they will have been encouraged by the performances of neighboring states.

Yes, casinos in Iowa nosedived over the past month, reporting a 14% win drop year-on-year.

However, Missouri will not necessarily use Iowa as a barometer for success, and they will be hoping to plug better returns over the coming months.