Kansas gaming revenues saw a year-on-year decline of 4.8% in February.
Rewritten Article:
🔥 KANSAS CASINOS: A CHILL IN FEBRUARY'S GAMBLING REVENUES 🔥
By: Charlotte Capewell, our gaming specialist
Spread the word: It's a frosty start to the year for Kansas' casino gambling scene, as February's revenue dipped by 4.8%, seeing a plunge from $34.3 million to $32.6 million compared to the previous year.
Unveiled: Kansas Lottery, the state regulatory body managing the commercial casinos, shared a report outlining the financial performance of these Sunflower State casino institutions.
Three out of the four casinos witnessed a decline in their revenues on a year-on-year basis.
🎲 Top Dog: Hollywood Casino, with $13.2 million in monthly revenue, led the pack in February. Despite being the frontrunner, the casino saw a small dip (approx. 1.4%) in revenue, slipping from $13.4 million in 2023.
💰 Second Place: Kansas Star Casino generated a second-highest revenue of $12.4 million in February. However, it suffered the sharpest decline (over 10%) compared to the same period last year, a drop from $13.8 million to $12.4 million.
🎲💸 Third Position: Boot Hill Casino managed $3.7 million in February, a 5.9% drop from the previous year's $3.9 million.
🎟️ Rising Star: Kansas Casino Crossing bucked the trend, marking an increase of 4.3% in revenue, jumping from $3.2 million in 2024 to $3.3 million in February this year.
Intrigued by these figures? Let's uncover the factors behind this unexpected chill.
💡 Less Betting and Lower Hold Rates: The total wagered amount (handle) in February, $203 million, was lower than that in January ($239 million) and March ($252 million). Moreover, the hold percentage, the percentage of wagered money the casinos kept, was significantly lower in February, at 4.2%, compared to January (8.7%) and March (6.6%). This two-fold effect played a crucial role in the revenue dip.
💡 Land-based Gaming Softening: The land-based gaming sector witnesses a general downturn in February 2024, with a decline of 5.8% in traditional table games and slots revenue compared to the preceding year. This trend applies not only to Kansas casinos but to the gaming industry as a whole.
💡 Fewer Days: February 2024 had one fewer day than the previous year, impacting monthly casino revenues and betting handles.
💡 Summing Up: Kansas's casino industry faced a slump in February, with revenues dropping by nearly $2 million from February 2023 to February 2024. Low betting activity, a low hold rate due to fewer days, and a broader national gaming softening trend all contributed to this cold snap.
However, the following month showed promising recovery signs, as Kansas casino revenue bounced back to $16.76 million in March, indicating that the February slump was just a temporary frostbite.
🤔 Curious about your favorite casino's performance? Keep checking our updates for more insights! 🎉
In the reported financial performance of Kansas' casinos, the casinos' offerings, such as casino games like slots and table games, appeared to experience a dip in revenue. Hollywood Casino, Kansas Star Casino, and Boot Hill Casino all saw a decline in their casino-games revenue when compared to the previous year. This decline is a part of the overall trend in February, known as the casino-and-gambling industry's cold snap.
