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Kansas City Casino Market Growing

KANSAS CITY, Missouri – As reported by the Kansas Star: "After a flat 2003 that had experts wondering whether riverboat fever here had finally topped out, the Kansas City casino market is growing dramatically in 2004 — mostly on the drawing power of the new Argosy Riverside Casino that opened in mid-December.

"In February the market hit a record $57.2 million in pretax casino revenue — gamblers' combined losses. That came on the heels of the area's all-time No. 3 revenue month of $55.5 million in January.

"February revenue was up a whopping 14.2 percent from February 2003. The take of Missouri's 11 casinos grew 16.9 percent, hitting a single-month record of $123.1 million.

"…Overall, Argosy hit $12.795 million in revenue last month, just a few thousand dollars shy of the property record $12.799 million set in January, which had two more days on the calendar.

"…Meanwhile, the Isle of Capri Casino near downtown posted a property record $9.58 million month in February, while Ameristar properties led both the Kansas City and St. Louis markets.

"Ameristar's St. Charles casino set a statewide single-boat revenue record of $25.1 million, while Ameristar in Kansas City posted this market's third-best month ever at $19.1 million.

"At the other end of the scale, Harrah's in February continued a six-month slide, slumping to its lowest market share ever, 27.4 percent, and one of its weakest revenue performance in years at $15.6 million…"

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