Missouri’s thirteen casinos have had another off-year. But the industry is hoping the industry sag is bottoming out.
The state gaming commission’s annual report shows taxes from the casinos have been easing down for four years, with Fiscal Year 2013-14 showing gross revenues off by five percent and casino admissions down by eight percent. “And they’re not staying as long,” says Executive Director Roger Stottlemyre. ”
They’re betting their money sooner and leaving sooner than they have been doing previously”
Commission Executive Director Roger Stottlemyre thinks the sag is related to the slow but continued economic recovery. The commission report suggests potential casino patrons are not willing to part with their disposable income.
A new law might help. The casino credit law allows high-rollers to establish $10,000 lines of credit at a casino. The loan must be paid back in thirty days. Stottlemyre says the commission will be able to measure the impact at the end of the year.
Casino gambling isn’t the only gambling that has been slipping. Charitable gambling-bingo, pull tabs, and coin boards have generated 350=thousand dollars less than they did four years ago. And the number of regular bingo parlors is down by 65 during the same period.