Wednesday, November 18, 2009
Terrible's St. Jo Frontier Casino saw a 15 percent gain in patrons and a 5 percent revenue increase last month, compared to October of 2008.
The latest figures from the Missouri Gaming Commission show that the St. Joseph casino tallied 54,273 patrons in October and $3.1 million in gross revenue.
Craig Travers, the general manager of Terrible's, said gamblers are staying closer to home rather than going to resort locations like Las Vegas or Atlantic City, N.J. He said revenue is rising more slowly than admissions because casino patrons are more careful with their money.
"That has something to do with the Midwest being stable and the Midwest population in general is a more disciplined group as far as discretionary income," he said. "People are being more cautious and more conservative. They may be visiting more times a week. They stay to their budget."
For the first four months of the fiscal year, the St. Joseph casino's revenue is up 3 percent and its number of patrons has increased 18 percent. For Missouri's 12 riverboat casinos, total patron visits are up 8 percent and revenue has increased 5 percent since July 1, when the fiscal year began.
In the Kansas City market, Isle of Capri posted the largest percentage increases in the last four months, with 12 percent growth in patrons and a 7 percent increase in revenue.
Ameristar in Kansas City led the western part of the state with 1.2 million patrons and $80 million in revenue over the last four months. Terrible's in St. Joseph had 226,000 patrons and $12.7 million in revenue during the same period.
The growth at the Frontier Casino bucks a national trend. The American Gaming Association said U.S. commercial casinos made $7.94 billion in revenue in the third quarter, 5.5 percent less than a year earlier, the Associated Press reported.
Mr. Travers said local casinos could see a drop in future months. The state's $500 limit on two-hour gambling losses was eliminated last November, so October was the last month that will reflect the boost that casinos experienced as a result of the change. He also said the economy is bound to have an impact.