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Kansas City Riverboat Casinos Cruising through the Recession

Everyone may be gloomy about the effects of the recession on their business but Kansas riverboat casinos have nothing to be gloomy about. Last January the Missouri Gaming Commission reported that the number of customers as well as the average revenue for the four Kansas City riverboat casinos increased pretty significantly compared to last year’s statistics.

The reason for this is most likely the removal of loss limits. The repeal of the loss limits took effect in November 2008 and since then all the Casinos in Missouri, including the 4 riverboat casinos started seeing an increase in table game wagers. Majority of the casinos in Missouri also reports an increase in slot machine bets. This repeal of loss limits may be good news for Missouri casinos but it sure is bad news for casinos in neighbouring states since their gamers seem to be making their way to Missouri to bet, at least if you look at the way their revenues are falling. In Ohio revenues have fallen by only 2.1% but in Illinois it fell by a much larger 9%!

As for the four riverboat casinos located in Kansas the Argosy Casino & Hotel Kansas City is the happiest with the highest revenue percentage increase of 12.8% Its customers also increased by more than 30,000 with 203,668 customers in January 2008 and 234,309 customers this January. Isle of Capri Casino Kansas City revenue went up by 5.2% while Harrah’s North Kansas City Casino & Hotel only saw a 2.5% increase in revenue. Ameristar Casino & Hotel Kansas City revenue actually went down from $19.75 million last year to $19.73 million last January. Not too bad since it is less than 1%, they sure will be envying the other casinos that saw an increase!