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Revenues up at terrible’s
Despite recession, local casino sees no drop
by Ahmad Safi
Tuesday, October 13, 2009

Terrible’s St. Jo Frontier Casino took in nearly $3.1 million in September, up 5 percent from a year ago, as its revenues rebounded from a rare drop in August.

Despite navigating a recession, Terrible’s gross revenue has grown 3.5 percent to nearly $29.2 million in the first nine months of 2009. Its only bad month was in August when Terrible’s revenue dropped 3 percent to about $3.3 million. All of the figures are in comparison to the same period in 2008.

Terrible’s attributes its steady roll to three factors: riverboat casinos being a good source of affordable hometown enjoyment, more people taking ‘stay-cations’ rather than traveling out-of-town, and the repeal of a $500 loss limit in November.

“The continued situation with the economy keeps people in a conservative mode, closer-to-home mode,” said Craig Travers, Terrible’s general manager. “And that gives people a little more discretionary dollars to spend here in town.”

Mr. Travers attributes the down month in August due to Labor Day weekend falling partly in September this year rather than August.

Terrible’s had 55,028 customers in September, up from 45,190 last year, according to statistics the Missouri Gaming Commission released Monday. That is a 22 percent increase. An additional admission is recorded whenever a patron stays for more than one two-hour gambling session.

Statewide in September, Missouri’s 12 casinos took in nearly $137.6 million, up 7 percent from a year ago. The Kansas City area’s four riverboat casinos posted 3.6 percent higher combined revenue in September. As a whole, the Kansas City market reported revenue of $56.5 million.

At the end of the 2009 fiscal year that ended in June, Terrible’s reported a 2 percent increase in revenue and admissions, and a 3 percent increase in customers.

Its parent company, Herbst Gaming Inc., is trying to emerge from bankruptcy, possibly through a deal in which lenders obtain control of the company.

Mr. Travers said Terrible’s Casino — in the relatively stable Midwest, far from the troubles of its parent company in Las Vegas — hasn’t been hurt by the bankruptcy proceedings, beyond negative publicity.

Ahmad Safi can be reached at ahmadsafi@npgco.com.

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backhoe October 13, 2009 at 1:30 p.m. (Suggest removal)

How can they not make money. Machines are tight. People around La Grange Missouri lose $100,000 A DAY. Who can lose money at that rate?

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momswisher October 13, 2009 at 2:44 p.m. (Suggest removal)

We eat there and enjoy the bands a lot but only gamble there maybe 2 or 3 times a year. When we do gamble we don't spend much, maybe 20 or 30 dollars. I see a lot of people that only eat and enjoy the music then leave with out gambling. I also see a lot of families eating there with their children then leaving. The eating side seems to always be busy. I'm sure that brings in a lot of revenue as well as the gambling side.

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JAFO October 13, 2009 at 6:59 p.m. (Suggest removal)

i find this insulting. people at the local casino have had their hours reduced to 32 a week, insurance doesn't get any cheaper, and they don't incure as much vacation and sick time as before. they need to examine their labor practices before posting information on their "profits." they are breaking the backs of their staff to save a buck. sad.

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whoknows November 17, 2009 at 1:29 p.m. (Suggest removal)

If the casino is progressively seeing an increase in profits, then why have the salary employees gone without a pay raise for the second year and will have no bonues this year as they have in past. I agree with the insurance. They switched to a different insurance at the beginning of '09 and it not only cost more but it covers way less. Shouldn't you reward your employees instead of making things more difficult?

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