Revenue generated by casinos in Missouri was up in January. According to the latest report released by the Missouri Gaming Commission, adjusted gross revenue generated in January was $153.7 million, up 5.7% compared to revenue in January 2022.
Casinos brought in around $8.2 million more year on year. Of the 13 casinos in Missouri, 10 of them brought in more revenue in January than they did in the same month last year.
Bally’s KC among four top casinos doing heavy lifting in January
There are no Missouri online casinos. Players must visit one of the state’s riverboat casinos to play slots and table games.
In January, 75% of revenue growth came from four casinos: Bally’s Kansas City, Argosy, Horseshoe St. Louis and River City.
Bally’s Kansas City saw the biggest growth. Revenue was up 19% in January year over year (YoY) for an increase of $1.8 million. Argosy was next with 14% ($1.8 million), followed by Horseshoe St. Louis at 12% ($1.3 million) and River City at 10% ($1.9 million).
In total, the four casinos brought in almost $58 million in the month of January, making up 38.8% of casino revenue overall.
Ameristar SC remained consistent with no real change in YoY revenue. It did bring in the most money in January with $24.4 million, followed by River City with $20.7 million and Hollywood with $18.9 million.
For most of the casinos in Missouri, if they weren’t showing a YoY increase in revenue, they were breaking even.
Century Casino Cape Girardeau was the only property to show a decline in revenue in January YoY, bringing in $5.3 million, down 5% from January 2022. The casino has seen dramatic drops over the last seven months, ranging from 3% all the way up to 13%.
All in all, its decline had no overall impact on Missouri’s numbers given its revenue is on the lower end compared to other casinos in the state.
Acres’ Cashless Casino technology should be a net positive for revenue
Earlier this year, Acres Manufacturing Company received approval to expand its services in Louisiana, Mississippi and Missouri.
The Las Vegas-based company creates cashless casino gambling technology and is working to make it the standard going forward.
Gambling on slots made up around 90% of dollars bet in casinos in Missouri for the month of January. Going cashless would decrease expenses and make it quicker for patrons to place bets.
The way the technology works is bettors can deposit money online via a mobile app and then select which participating slot machine they would like to gamble on. This eliminates the need to transport a rewards card around or walking around with cash. It also cuts out time spent looking for ATMS or cashing out winnings at cashier cages.
To date, Missouri casinos have around half of the volume of casinos that have adopted this new technology across the country. Some of the slot machine providers participating include IGT, Light & Wonder, Aristocrat and Komani.
According to Acres, once a casino opts in, they are able to go cashless within 100 days.