As reported by the Kansas City Star: “Spending by gamblers in Kansas City
and elsewhere flattened out in May. ” ‘We are seeing a bit of a slowdown’
industrywide, Merrill Lynch gaming analyst David Anders warned investors
last week. “Locally, riverboat revenues were up just 1.2 percent from May
2005, at $57.8 million. Though modest, that gain was stronger than the 1
percent average growth statewide at Missouri’s 11 riverboat casinos. “.St.
Louis was down 0.6 percent, Detroit was up 1.1 percent, Indiana was up 1.4
percent, and Atlantic City was up 2.9 percent. Results were stronger in
Illinois, up 5 percent, and Iowa, up 7.5 percent. Mississippi was down 18.3
percent in May, as coastal casinos continue to rebuild and recover from
Hurricane Katrina.

“.Averages statewide were dragged down by Kansas City’s Isle of Capri
Casino, where revenues fell 16 percent, to $7.4 million, and by the
President and Ameristar St. Charles casinos in the St. Louis market, which
each dropped around 3 percent.
“One of Missouri big gainers was Harrah’s North Kansas City Casino and
Hotel, up 10 percent from May a year ago with its $15.9 million month. That
double-digit gain, however, was inflated compared with May 2005, which was
one of the casino’s weakest months in years, coming during a disruptive
period of remodeling and expansion that wrapped up last fall.”