Sunday, February 08, 2009

St. Louis Casinos up 13 percent, Illinois down 20.9 percent!

Missouri casino revenues are up 4.9 percent overall for 2008. St. Louis casino revenues are up 13 percent for 2008:

But according to Tom Swoik of the Illinois Casino Gaming Association, Illinois revenues in the St. Louis market are down 20.3 for 2008. Statewide, Illinois casino revenues are down 20.9 percent. In December 2008, the first full month after casino loss limits were removed, the Kansas City Star reports Illinois casino revenues were down 28 percent.

The Illinois Licensed Beverage Association reports that the bar trade is down across Illinois. They say some bars along the borders of states without smoking ban are down 70 percent!

"The loss of casino revenue translates into a loss of taxes and jobs. According to Swoik, the Illinois casinos employed nearly 1,000 fewer people in October 2008 than they did just a year before. The state lost more than $177 million in revenue and local governments lost nearly $23 million. One of the cities in Southwestern Illinois that is taking it on the chin is Alton. The Argosy Alton Casino’s revenues fell 28 percent in 2008 from 2007."

24 .5 percent of St. Louis City residents do not favor a smoking ban in bars and coctail lounges. I would how many would leave the casinos alone too?