Hollywood, Ameristar Casinos Continue Revenue Dip in January
Hollywood Casino in Maryland Heights and Ameristar Casino in St. Charles both reported revenue drops in January 2013. And overall, the St. Louis-area casino market continued to slide in revenue when compared to previous years.
The drop is part of an overall trend in the St. Louis casino industry, where nearly every area casino saw revenue dips in January.
Overall, according to the Business Journal report, revenue at the six St. Louis-area casinos totaled $83 million in January, down 4 percent from the same month last year.
In November, Hollywood Casino saw a 16.2 percent drop in revenue in November 2012 when compared to the same month in 2011, when Harrah's still owned the casino. That figure was by far the worst among St. Louis-area casinos at the time.
That deal closed in November 2012 and the Maryland Heights casino into Hollywood Casino.
Penn National has said it plans on pumping $61 million into the rebranding over the next six to nine months, which will include new slot machines and themes, and a new Boogie Nights nightclub in the previous Voodoo Lounge space.
Meanwhile, across the river, Ameristar Casino in St. Charles—which is slated to be bought by Pinnacle Entertainment—reported January revenue of $20.8 million, down 3 percent from the same month a year earlier, the Business Journal reports.
Historically, Harrah's played second fiddle to St. Charles' Ameristar Casino, although it remains a major player in the St. Louis-casino scene.
In January, Hollywood took in $19.4 million, just behind Ameristar for the area's lead.