Missouri casinos reach $153m in revenue in February
Revenue increased by 8 per cent year-on-year according to the Missouri Gaming Commission.
US.- Missouri casinos generated $153m in adjusted gross revenue in February, an increase of 8 per cent compared to February 2022. According to the report from the Missouri Gaming Commission (MGC), 11 of the state’s 13 casinos saw their revenue increase year-on-year.
Bally’s KC, Argosey, Horseshoe St. Louis, and River City accounted for more than 50 per cent of the revenue. The Isle of Capri led the way with 16 per cent growth year-on-year, while Ameristar St. Charles saw the biggest growth, accounting for $2.2m of the nearly $10.2m rise in revenue in February.
Sports betting in Missouri
The Missouri House has granted first-round approval to a bill that would legalise online and retail sports betting in the state. A formal roll call vote is required in the House before House Bill 556 is sent to the State Senate. The vote is expected to take place later this week.
HB556 would allow up to 39 mobile skins for Missouri casino operators and sports teams. In-person sportsbooks could open at the state’s 13 riverboat casinos, while sports teams would receive an exclusion zone around their venues. The Missouri Gaming Commission would oversee sports betting, which would be available to players over the age of 21.
Licences would incur an initial application cost of $100,000 for gambling excursion boats and $150,000 for an interactive wagering platform licence. Renewal fees will be set at $50,000 and $125,000, respectively.
The legislation establishes a 10 per cent sports betting tax on net revenue, which is estimated to bring in more than $20m for the state annually.
