Revenue at Missouri casinos experienced a significant drop this past November, and overall foot traffic has seen a decrease as well.
If November’s casino numbers are any indication, Missouri could benefit from legal sports betting now more than ever.
Missouri casinos see decline in November, slight increase YoY
Adjusted gross revenue from the 13 Missouri casinos totaled $151.8 million during November — about 6% less than the $162 million collected in October.
This monthly decline can traditionally be chalked up to a simple case of the winter slumps. Interestingly, though, casinos brought in roughly $10 million more in October revenue than in September and August.
Historically, on the other hand, November’s casino action falls right in line with annual expectations.
Adjusted gross revenue topped out at $6.5 million more than Nov. 2021 — just a slight 1% improvement.
Similarly, 7 of the 13 casinos enjoyed a minor increase in yearly adjusted gross income, while the other 6 saw a modest decline.
Slot revenue down, table games steady
When it came to slot machines, 8 of the 13 casinos in Missouri saw year-over-year revenue fall in November. Two of the five casinos that did not see a decline in slot machine revenue saw an increase of less than a single percentage point. Thus, just three casinos experienced any meaningful slots growth in November.
In total, adjusted gross revenue from slot machines totaled $126.2 million in November — down 1.6% when compared to November 2021.
And despite collecting $23.2 million on table games, casinos experienced a drop in revenue there as well.
Fortunately, that dropoff wasn’t as dramatic as slot machines. Adjusted gross revenue from table games fell by just 0.1%.
There was one positive bump in November, though. Hybrid gaming tables collected $408,000, a 62.1% improvement YOY. Only five Missouri casinos feature hybrid gaming tables.
Foot traffic down at all but one Missouri casino
Overall, Missouri casinos saw fewer people gambling in November compared to the month before.
Just one Missouri casino, Horseshoe St. Louis, welcomed more customers through its doors in November than in October. The 12 other casinos saw admissions drop — some as much as 24% from October. In fact, Horseshoe was the only Missouri casino to see an increase in traffic between July and Nov. 2022.
Compared to the same month in 2021, only two casinos experienced growth in November. The other 11 casinos either saw no change or a drop in admissions.
Housed on the Missouri and Mississippi rivers, all 13 Missouri casinos are considered riverboat casinos. An effort is underway, however, to permit a casino in the Lake of the Ozarks.
Now that Missouri General Assembly sessions have started, legislators are hopeful to add legal sports betting to the state’s list of available gambling options. At the very minimum, it would certainly generate more business for Missouri’s 13 casinos.