Missouri Numbers Flatten
As reported by the Kansas City Star: "Spending by gamblers in Kansas City and elsewhere flattened out in May. " 'We are seeing a bit of a slowdown' industrywide, Merrill Lynch gaming analyst David Anders warned investors last week. "Locally, riverboat revenues were up just 1.2 percent from May 2005, at $57.8 million. Though modest, that gain was stronger than the 1 percent average growth statewide at Missouri's 11 riverboat casinos. ".St. Louis was down 0.6 percent, Detroit was up 1.1 percent, Indiana was up 1.4 percent, and Atlantic City was up 2.9 percent. Results were stronger in Illinois, up 5 percent, and Iowa, up 7.5 percent. Mississippi was down 18.3 percent in May, as coastal casinos continue to rebuild and recover from Hurricane Katrina.
".Averages statewide were dragged down by Kansas City's Isle of Capri Casino, where revenues fell 16 percent, to $7.4 million, and by the President and Ameristar St. Charles casinos in the St. Louis market, which each dropped around 3 percent. "One of Missouri big gainers was Harrah's North Kansas City Casino and Hotel, up 10 percent from May a year ago with its $15.9 million month. That double-digit gain, however, was inflated compared with May 2005, which was one of the casino's weakest months in years, coming during a disruptive period of remodeling and expansion that wrapped up last fall."