Ameristar reaping harvest

Aug 19, 2003 7:10 AM

A $360 million investment in its riverboat complex in St. Charles, Mo., continued to pay dividends for Ameristar Casinos Inc. (ASCA) during the month of July.

In figures compiled by the Missouri Gaming Commission, the company’s Ameristar Casino St. Charles reported $22.97 million in adjusted gross receipts, a 60% increase from the same month of 2002. The property was one of only two of the five operating riverboats in the area to show an increase. The other was the President Casino in Downtown St. Louis that saw receipts climb 1.1% to $6.19 million.

Ameristar opened its expanded facility in August of last year and has shown substantial increases throughout the year.

Second volume leader in the St. Louis area is Harrah’s Maryland Heights casino that reported a win of $19.63 million, a decrease of 16.6% from the $23.49 million it took in a year ago.

In its other Missouri property, Ameristar Kansas City, Ameristar saw its gaming win decline by 4% to $18.02 million.

Showing a modest increase in North Kansas City was the Harrah’s riverboat that reported gaming revenues of $18.05 million, up less than 1% from last year’s $17.99 million.

Overall, the 11 casinos across Missouri won $113.2 million in July, a 4% increase.