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Calendar Blamed for Weak February Numbers

KANSAS CITY, Missouri – As reported by the Kansas City Star: "Blame casinos' weak February in part on the leap year calendar.

"Kansas City riverboat revenue hit $54.4 million last month, down 4.8 percent from the 29-day February in 2004. Statewide, gambling revenue was down 0.4 percent.

"It was a similar story in other jurisdictions. Atlantic City was up a modest 0.5 percent; Detroit casinos were up 0.8 percent; and Illinois gained just 1.8 percent.

"However, Iowa casinos boomed last month, posting a 9.2 percent increase. Deutsche Bank analysts said at least some of that sharp growth appeared to be due to expansion, including at Argosy's Sioux City casino, which now operates from a larger riverboat that Argosy formerly used in the Kansas City market.

"The Kansas City market for the 17th consecutive month was paced by Ameristar Casino and Hotel, which raked in $19.3 million for a 35.5 percent market share.

"…Missouri's soft February might have been even softer if not for a miniboom of sorts when Herbst Gaming Inc., a subsidiary of Nevada-based Terrible Herbst Oil Co., on Feb. 1 bought the casinos in St. Joseph and La Grange…"

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