St. Louis Casino Revenue Jumped 10% in October
Revenue at the six casinos in the St. Louis area increased 10 percent in October thanks to the removal of loss limits last year.
The casinos’ revenue totaled $87.5 million in October, up from $79.7 million in October 2008, according to data released Tuesday by the Missouri Gaming Commission and the Illinois Gaming Board.
In November 2008, voters approved Proposition A, which removed the state’s unique $500-in-two-hours loss limit.
Here is how each casino performed in October:
• Las Vegas-based Pinnacle Entertainment’s Lumiere Place saw October revenue of $17.9 million, up 41 percent from $12.7 million in October 2008.
• Pinnacle’s President Casino saw revenue in October of $1.9 million, down 9 percent from $2 million last October.
• Ameristar Casino in St. Charles saw its revenue increase 7 percent last month to $23.8 million, compared with revenue of $22.3 million in October 2008.
• Harrah’s Casino in Maryland Heights reported revenue of $25.4 million last month, up 9 percent from $23.2 million in October 2008.
• Argosy Alton reported revenue of $6.7 million in October, down 8 percent from $7.3 million in October 2008.
• Casino Queen in East St. Louis reported October revenue of $11.8 million, down 3 percent from $12.2 million last October.
Daniel Lee resigned Monday as Pinnacle’s chairman and chief executive after the state launched an investigation into his alleged threats against a St. Louis County councilman.
This article appears as it was reported by the St. Louis Business Journal
November 27th, 2009 at 5:43 pm
The Ameristar Casion, St. Charles needs to be seriously investigated by the Missouri Gaming Commision concerning slot machine payout odds, and other forms of substandard gaming practices.