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Missouri Casinos Have First $1 Billion Year12 July 2001KANSAS CITY, Missouri –– As reported by the Associated Press: "Missouri's casino industry has hit the jackpot, posting its first $1 billion year as fewer gamblers lost more money on the riverboats. "Overall, the $1.05 billion in total revenue reported by Missouri casinos in the fiscal year that ended June 30 was up 7.3 percent from $977 million the previous year, according to a new report from the Missouri Gaming Commission. "…Commission analyst James Oberkirsch calculated the average loss per gambler in Kansas City at $47.86 per visit — up 10 percent from 2000. Oberkirsch said St. Louis area gamblers lost even more — $51.32 on average. "The Missouri casinos' pull ran contrary to the trend in other jurisdictions, where gambling revenues have been flattened by the slowing economy and a reduction in consumer spending. "…The Argosy Riverside Casino's operations director, Terry Schneider, said a big factor in revenue growth has been the popularity of a growing number of small-denomination slot machines. "Those penny, nickel and dime devices often are themed to pop culture icons such as `Yahtzee' and `I Dream of Jeannie.' "…Gaming commission executive director Kevin Mullally said the growth shows that 'Missouri's tough regulatory stance is not deterring improvement.'…" |