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McClatchy-Tribune  06/10/2014 3:45 PM ET
St. Louis area casino business perks up [St. Louis Post-Dispatch :: ]

June 10--Ah, spring, and thoughts turn -- sort of -- to casino gambling.

After a winter of falling revenue, the St. Louis area's casino business reported a smaller decline in May. Three of the region's six casinos had strong revenue gains last month, compared with May 2013, according to figures released today by state regulators.

Lumière Place, the glitzy riverfront casino-hotel complex, turned in the strongest performance when considered by percentage of revenue gain. Revenue last month rose 4.6 percent, to $14.2 million, from the previous year.

In April, Tropicana Entertainment, completed its $260 million cash purchase of Lumière Place from Pinnacle Entertainment. Both companies are based in Las Vegas.

River City, in Lemay, and Ameristar in St. Charles -- both Pinnacle properties -- also had revenue gains last month.

Hollywood, in Maryland Heights, was the only casino in the Missouri portion of the market to show a decline last month. Also down were the Casino Queen, in East St. Louis and Argosy, in Alton. In March, Argosy's owner, Penn National Gaming, began closing one of the gambling hall's three gaming decks four days a week.

May revenue figures

Casino May change Revenue (in mill.)

Hollywood -4.6 percent $19.6

River City 3.4 percent $18.3

Lumière Place 4.6 percent $14.2

Ameristar 3.9 percent $22.4

Casino Queen -17.8 percent $9.4

Argosy Alton -11.2 percent $5.1

Market total -1.7 percent $89

Sources: Missouri Gaming Commission, Illinois Gaming Board

Tim Bryant covers commercial real estate, development and other business stories for the Post-Dispatch. He blogs at Building Blocks, the Post-Dispatch development blog.


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