Casino Gambling Continues to Pay in Missouri

Even as the gaming capitols report significant declines continuing, Missouri says casino and gambling revenue in the state is healthy and growing.

Las Vegas and Atlantic City might still be feeling the squeeze of the recession, but Missouri is finding the casino business increasingly profitable. Revenues from gambling at state casinos were up 4 percent in July over the same month last year.

Leading the way was Lumiere Place, the Pinnacle-operated casino in St. Louis, which was up 37 percent over last year. Of 11 casinos, 8 were up in revenue; two of those three suffering slight declines are in the Kansas City area.

Gene McNary, state Gaming Commission Executive Director gave credit to the state's adjustment in gaming law last fall, at which time voters approved the repeal of the maximum loss limit. Before the law changed, players could not gamble more than $500 in a time period; now, they are free to wager as they wish.

McNary said the new rules help keep people instate that had been crossing borders to play without the limit. Meanwhile, traveling to destination resorts like Las Vegas has become too expensive.

"We are regionally and centrally located and people found it less costly and more convenient to come to us," McNary told "Forbes."

McNary said people budget for gambling as part of their entertainment dollar. He says casino gaming is actually cheaper entertainment than expensive vacations and other splurges the recession has curbed.