Kansas Casino Revenue Improves 2.7% In July After Slow June
Friday 30 de August 2024 / 12:00
2 minutos de lectura
(Kansas).- According to newly released data from the Kansas Lottery, the state’s four commercial casinos put together a solid month of revenue in July. Revenue grew 2.7% after suffering through June in which revenue fell 8.9% month-over-month.
July’s positive numbers mark the fourth time in 2024 that casino wins have increased month-on-month.
Key takeaways
- Legal online casinos could bring Kansas more than $40 million in monthly revenue.
- Kansas casino revenue was up 2.7% month-on-month in July.
- All four of the state’s non-tribal casinos posted positive monthly revenue growth.
No online casinos in Kansas is a missed opportunity
Casino revenue discussions are never complete without an analysis of online casino revenue. However, only seven states have legal online casinos.
States have been slow to adopt iGaming; much slower than they were to adopt online sports betting. Kansas is the perfect example of those two trends.
The state is home to online sports betting, but legislators have yet to legalize Kansas online casinos.
Where does that leave Kansas’s casino operators? Missing out on nearly $50 million this past month, according to PlayUSA’s projections based on state-level iGaming revenue reports and Census Bureau population figures.
| State | July online casino revenue | Population (according to 2023 Census Bureau data) | Per-capita revenue |
|---|---|---|---|
| Pennsylvania | $215.3 million | 13 million | $16.56 |
| Michigan | $195.4 million | 9.3 million | $21.01 |
| New Jersey | $191.4 million | 10 million | $19.14 |
| Connecticut | $35.7 million | 3.6 million | $9.92 |
| West Virginia | $14.4 million | 1.8 million | $8.00 |
| Delaware | $5.2 million | 1 million | $5.20 |
| Average | $109.6 million | 6.5 million | $16.86 |
| Kansas (projected) | $48.9 million | 2.9 million | $16.86 |
Monthly revenue up at all four Kansas casinos
All commercial (non-tribal) properties in the Jayhawk State’s quarter of casinos posted positive monthly revenue in July, combining for an overall total of $33.8 million.
Pittsburg’s Kansas Crossing Casino led the way with a 9.2% jump in revenue from $3 million in June to $3.3 million in July.
| Property | July 2024 | June 2024 | % Change |
|---|---|---|---|
| Boot Hill Casino | $3,814,641 | $3,648,519 | 4.55% |
| Kansas Star Casino | $12,949,967 | $12,816,290 | 1.04% |
| Hollywood Casino | $13,718,015 | $13,395,775 | 2.41% |
| Kansas Crossing Casino | $3,329,608 | $3,048,159 | 9.23% |
Despite the positive monthly numbers, Kansas casinos struggled to keep up with the pace they set in July 2023.
Looking at the Kansas Lottery’s Fiscal Year to Date comparison, yearly casino revenue was down 1.2%, due largely to a roughly $400,000 decrease in win at Kansas Star Casino.
Kansas’ up-and-down gaming revenue trend continues in July
Looking back at the past year of revenue, there’s one clear trend: revenue tends to yo-yo up and down on nearly a monthly basis. Going back to July 2023, monthly revenue has risen seven times and fell six times.
| Month | Total Revenue | % Change, Monthly |
|---|---|---|
| July 2024 | $33,812,23 | 2.75% |
| June | $32,908,743 | -8.91% |
| May | $36,125,880 | 3.43% |
| April | $34,929,378 | -9.67% |
| March | $38,669,189 | 12.74% |
| February | $34,298,726 | 13.15% |
| January | $30,311,619 | -19.04% |
| December 2023 | $37,442,477 | 19.09% |
| November | $31,439,185 | -2.99% |
| October | $32,406,654 | -2.07% |
| September | $33,092,030 | 3.04% |
| August | $32,114,781 | -6.19% |
| July | $34,235,131 | 6.57% |
The state’s four non-tribal casinos have put together back-to-back positive months once over the past year (February 2024 KS gaming revenue and March 2024 KS gaming revenue) and back-to-back negative months once (October and November 2023).
Despite this inconsistency, though, casinos managed to eke out a yearly revenue increase in fiscal year 2024, which ended in June. Total revenue for FY 2024 was $408 million, up from $407 million in FY2023.
By J.R. Duren
Categoría:Reports
Tags: casinos,
País: United States
Región: North America
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