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Kansas City Casinos Report Strong April

KANSAS CITY, Missouri – As reported by the Kansas City Star: "Like spring flowers, Kansas City's casinos came on strong in April, winning $58.8 million from gamblers for the market's third-richest month ever.

"Pre-tax gross revenues were up 4.7 percent over April 2004, while riverboats statewide posted 8.1 percent growth, to $130.3 million, according to the latest figures from the Missouri Gaming Commission.

"Ameristar Kansas City Casino and Hotel solidified its market-share lead with the property's second consecutive $21 million-plus month and only its third ever at that record level.

"Ameristar's 36.5 percent share bested Harrah's North Kansas City Casino and Hotel by a margin of almost 10 percent, while Argosy Riverside Casino continued to creep up on second-place Harrah's with a 23.3 percent showing.

"Harrah's, which is in the midst of a $126 million expansion project, was the market's lone casino that failed to match or best its April 2004 performance. Its admissions were down 2.6 percent, while revenues fell 1.1 percent.

"Harrah's dominated the Kansas City market until mid-2003, when Ameristar was the first of its three rivals to complete costly expansions and upgrades that added new gambling space, indoor parking, nightclubs, restaurants and other amenities.

"The North Kansas City casino has been shedding market share to its rivals ever since, but casino executives are upbeat.

"…Identical 11.8 percent revenue gains posted in April by Ameristar and Argosy appeared in part to come at the expense of the Isle of Capri, which fell 10.2 percent to its smallest slice of the market share pie in nearly five years…"

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