Industry News
Ameristar led the local casino operators with $21.1 million in revenues, for a 34.2 percent market share. In second-place, Harrah’s North Kansas City Casino and Hotel finished at $17.1 million. Surging Argosy Casino Hotel & Spa in Riverside surpassed $16 million. Even the Isle of Capri Casino saw attendance and revenues jump. Casino revenues statewide were up 7 percent over February 2007, to $141.5 million.
There may be more growth to come. Presuming the courts validate Kansas’ new casino gambling law, The Woodlands in Kansas City, Kan., will install at least 800 slots later this year. Another state-owned casino resort near The Legends shopping mall and Kansas Speedway at Village West in Wyandotte County with up to 5,000 slots may open in two years, experts are saying.
The Missouri Gaming Commission is also mulling yet another new casino, to be built in the suburbs of Kansas City, perhaps.
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Nearly $1 billion in revenues
Economists at the University of Missouri-St. Louis reported recently that a new casino in Sugar Creek will increase market demand by approximately 5 percent. The Missouri market sees $720 million in annual revenues already.Relatively flat casino revenues have been the talk of the industry this winter, but not so in the Midwest.
“Gaming is continuing to proliferate around the country, and Kansas City is a prime example,” said Wachovia Capital Markets analyst Brian McGill.
Other states are seeing soaring revenues too. Iowa casino revenues were reported up 13.3 percent last month. Across the state, revenue growth there was 7.5 percent. There are 20 casinos overall in Iowa.
Bills are moving forward regarding casino expansion in other Midwest states.
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