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The Missouri Gaming Commission has reported an increase in casino revenue for the month of February despite the nation’s economic downturn.
St. Louis’ six local casinos are reporting $88.2 million in revenue in February 2009, up from $85.6 million in revenue from February of 2008. Missouri regulators say that the state’s gambling industry saw more patrons last month then those recorded of a year ago.
St. Louis’ newest casino, the Lumiere Place, is reporting the highest gains. Revenue there was up 38 percent than that of last February, while 54 percent more patrons came through their doors.
Although recession is hitting hard in most industries, many states gaming forums are actually making money. Last month, the Mississippi State Tax Commission reported casino revenue up nearly 8 percent over December along the Gulf Coast. Louisiana also has reported that casino profits were up 11 percent in January.
With major gaming areas like Las Vegas and Atlantic City, New Jersey recording losses, we are seeing more and more smaller markets like Missouri, Louisiana and Mississippi gaining some steam as we head through the first quarter of 2009. Some economists believe this is due to the smaller operating costs and lower overhead of the smaller casinos.
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