Casino managers in the St. Louis area have reported a 1% drop in revenues for October, with last month’s income being around the $78.7 million mark, compared to $79.7 million the same time last year.
The figures were reported by the Missouri Gaming Commission, and the Illinois Gaming Board.
Casino owners are hoping that the news that the loss limit was repealed by voters in Tuesday’s election will help to attract more gamblers and high rollers. The rule changes means that gamblers are no longer prevented from losing $500 in two hours.
The referendum also increased the tax rate on adjusted gross receipts to 21%, and put a cap on the number of casino licenses in the Missouri area, capping it at the current 13.
The casinos reporting falling revenues were the Argos, the Casino Queen, Harrah’s, Lumier Place, Ameristar, and the President Casino. Some of those casinos reported a reduction in revenue as high as 29% compared to last year’s intake.
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