Missouri Gambling Hits $164.8M, Sports Betting to Boost
### Key Takeaways
Missouri’s gambling industry generated revenues of $164.8 million in December 2024. Despite a 3% year-over-year decline, monthly revenue increased by 5.3%. Ameristar St. Charles remains the top-grossing casino, while recently passed legislation to legalize sports betting could positively impact the market’s future.
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Missouri’s Gambling Market: A Look at the Numbers
In December 2024, Missouri reported $164.8 million in gambling revenue. This figure represents the Adjusted Gross Revenue (AGR) as reported by the Missouri Gaming Commission. Compared to December 2023, this marks a 3% decline. However, the month-over-month comparison shows positive growth: AGR in November 2024 was 5.3% lower.
For the current fiscal year (as of December 2024), AGR stands at $938.1 million. This represents a slight 1% decline compared to the $950.1 million recorded during the same period last year.
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Casinos in Focus: The Top Performers
Ameristar St. Charles continues to lead as Missouri’s top-grossing casino, generating $26.6 million in December 2024. Other casinos, such as River City Casino ($22.9 million) and Hollywood Casino ($22.4 million), also delivered strong performances.
A closer look at growth rates reveals interesting trends:
– **Ameristar St. Charles**: 1% decline year-over-year.
– **River City Casino**: 6% growth year-over-year.
– **Hollywood Casino**: 5% growth year-over-year.
These figures suggest shifting market shares, as River City and Hollywood Casino are steadily catching up.
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Legalization of Sports Betting: A Turning Point
A major milestone for Missouri’s gambling market was the recent passage of legislation legalizing sports betting. Following a close vote, the law was approved and is set to be implemented in the coming months. Experts anticipate this will further boost the state’s revenue.
Missouri currently operates 13 riverboat casinos, which generate the majority of its gambling revenue. The introduction of sports betting will expand the market and likely attract new customer segments.
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Comparison with Other States
Missouri wasn’t the only state to release its gambling figures for December 2024. Other states, including New York, Maryland, Iowa, and Delaware, also published their reports. Additionally, neighbouring Kansas shared its sports betting statistics. These data highlight the dynamic and competitive nature of the U.S. gambling market.
The legalization of sports betting could help Missouri better position itself in this highly competitive landscape.
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Our Assessment
Missouri’s gambling industry shows stable performance despite a slight year-over-year decline. The introduction of sports betting is expected to invigorate the market in the coming months. The performance of individual casinos also hints at shifting market shares. Players and investors can expect Missouri to strengthen its position in the national gambling market.
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