Casino news from http://www.kansascity.com/
Gamblers dropped $2 million a day in July at Kansas City’s riverboat casinos.
Measured against the market’s richest months, July’s $60.6 million ranked at No. 5 all time but was well off the market record of $64.4 million set in March.
According to the Missouri Gaming Commission’s monthly financial report, collective revenues at the Kansas City market’s four gambling boats were down a modest 0.4 percent from July 2005 — when $60 million was a big deal, the second-biggest month at that time.
The rest of the Missouri market fared no better this July, as statewide revenues of $136.1 million were down nearly 1 percent from July 2005. St. Louis area boats were down 2.8 percent, while admissions statewide fell 3.7 percent.
July’s most memorable financial statistic was the $28.02 million posted by Harrah’s in suburban St. Louis, topping its single-boat monthly record by $18,000.
Markets elsewhere were mixed. Atlantic City was reported down 4.8 percent. Only two of the New Jersey market’s 12 casinos showed a gain over July 2005. Indiana was down 0.8 percent. Detroit casinos were up 2.7 percent, but Deutsche Bank analyst Andrew Zarnett credited at least some of the gain to a new smoking ban affecting Canadian casinos in nearby Ontario.
Canadian Press recently reported 329 workers had been laid off at Casino Windsor and at least one Ontario bingo hall has closed since the May 31 smoking ban went into effect.
In other U.S. markets, Illinois casinos gained 6.1 percent over July 2005 revenues while Iowa riverboats were up 10.9 percent. Zarnett said the recent opening of two new casinos in rural markets and the expansion and re-branding of the Horseshoe Casino in Council Bluffs helped pad the statewide gain.
Locally, Ameristar Kansas City Casino and Hotel held its longtime market share lead while posting its 17th consecutive $20 million-plus month.
Second place Harrah’s North Kansas City Casino and Hotel held steady at a 28 percent share, while the Argosy Riverside gained about 2 percent. Isle of Capri marched in place last month with its softest market share of the year, down three points from its two-year high.
Ameristar Casinos’ chairman, president and chief executive, Craig H. Neilsen, apparently is confident in his company’s seven U.S. casinos. He filed a report with the Securities and Exchange Commission last week noting his recent purchase of more than 50,000 shares of Ameristar stock at prices under $19 a share.
Ameristar stock closed Monday at $19.20 a share, down 14 cents.
Shares lately have been trading much closer to their 52-week low of $16.73, reached last month, than the high of $26.75 hit in May.
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