Casino Revenue in Kansas Dropped by 28% Last Year

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Kansas is home to a large and fairly successful casino industry. Unfortunately, the casinos in this state have been struggling to generate revenue for nearly an entire year. This week, reports surfaced claiming that casino revenue in Kansas dropped by almost 30% in 2020.

There are some caveats here, though. The revenue being discussed here only came from the four casinos directly owned by the state. It doesn’t include revenue figures from the different tribal casinos operating in Kansas.

Now is a good time to talk about exactly how much money the casinos here managed to bring in throughout 2020.

Let’s get into it!

Major Casino Companies Continue Struggling into 2021

It has been almost an entire year since the US casino industry was ordered to shut down. When that happened, many felt things would be back to normal within a few months. Health officials seemed torn on the situation and casino companies were content to sit back and wait for more updates.

As time went on, it became clear that the land-based casino industry was in for a tough time. Many states around the country waited until mid-summer to allow commercial casinos to reopen. Some then ordered another round of shutdowns just months later.

Places such as Las Vegas and Atlantic City saw their tourism and revenue numbers plummet. It was an extremely difficult situation for the casino companies with properties here. Even today, the country’s biggest gaming hubs are struggling in a big way.

Every casino company has seen large dips in revenue. That includes MGM Resorts, Wynn Resorts, and Las Vegas Sands. The latter has been forced to consider major Las Vegas property sales as a way to earn some extra money.

Even the states with small casino industries are hurting right now. These venues employ thousands of people and usually help to bring states a large amount of revenue each year. Unfortunately, there does not seem to be a clear date for the industry to turn around.

Kansas is home to some very popular gambling establishments. We’re now beginning to hear how much money these casinos lost throughout 2020.

State-Owned Casino Revenue in Kansas Fell by 28% in 2020

Kansas is currently home to 11 different land-based casinos. Seven of these are owned and operated by different Native American tribes. The other four are actually owned by the state and are hugely popular with many local residents.

New reports are shedding light on how much money the casinos in this state managed to bring in last year. According to these reports, the casinos across Kansas City, Mulvane, Dodge City, and Pittsburgh managed to bring in just $300 million in 2020. That represents a 28% drop when compared to 2019.

Stephen Durrell, executive director of the Kansas Lottery, spoke about the situation here to the media this week.

“It’s been a really difficult year for a lot of businesses and obviously, our casinos are part of that,” Durrell said. “Two months out of the 12, not being there revenue-wise . . . is obviously going to make a giant impact on what your bottom line is.” 

The casinos here brought the state just $80.9 million in gambling revenue. The Hollywood Casino at the Kansas Speedway in Kansas City experienced the largest overall drop in revenue at 35%. This property managed to bring in just $99.4 million in 2020.

All of these casinos are still operating at a limited capacity. That is unlikely to change anytime soon. As a result, most analysts expect another major drop in gambling revenue in 2021, as well. Stay tuned for more updates over the next few months!

Kansas Continues to Look Close at Sports Betting Legislation

Since May of 2018, every single state across the country has been able to legalize and regulate sports betting. 26 states have now officially chosen to do so. Many more are in the process of drafting legislation to approve this new form of gambling.

That includes Kansas. This state is already home to a large and fairly successful gambling industry. Even with the drop in casino revenue in Kansas, this state has a more successful gaming market than many other nearby states.

This week, lawmakers in the state met to discuss sports betting legislation. The discussion centered around Senate Bill 84, which would officially legalize online sports betting in Kansas. Many officials in the state seem to be happy with the details of this new bill.

Heads of different sports betting companies are expressing their support for this new bill. These companies clearly recognize the huge sports betting market that exists in Kansas. State officials also seem happy with the idea of earning revenue from this industry.

If all goes according to plan, sports betting will become legal here before the end of 2021. That will be a huge move forward for the state’s gambling industry. It could also lead other nearby states to make the same decision.

Are you surprised to see how far casino revenue in Kansas dropped last year? When do you expect this trend to change? Let us know in the comments section below.

Casino Revenue in Kansas Dropped Once Again in July

Lawmakers in Kansas recently began allowing their casinos to reopen to the public. Unfortunately, the gaming venues here are earning considerably less than they did prior to the shutdowns. New reports from the Kansas Racing and Gaming Commission show that casino revenue in Kansas fell considerably in July.Kansas Casinos

Some of the casinos here saw a revenue loss larger than others. With September approaching, now is a great time to look at how much some of these gaming venues managed to bring in.

Let’s get into it!

The US Casino Industry is Slowly Returning to Life

It’s been months since state leaders across the country began ordering casinos to shut down. The impact of these shutdowns was immediate in many areas. Places like Las Vegas and Atlantic City quickly began looking at ways to safely get their casinos operational again.

It has been a difficult road for casino companies in the US. Even now, most are seeing massive dips in their revenue earnings. Regulations continue to change from state to state and some commercial casinos may be forced to close down again in the near future.

Online gambling operations have been skyrocketing for the past few months. Fewer people are willing to visit a land-based gambling venue and now prefer to make their casino bets over the internet. This has brought many casino companies some much-needed revenue.

Each state sets its own timetable to reopen casinos. Kansas started allowing its major commercial gaming properties to open in early June. It was great news for gambling fans and employees within these venues.

Things haven’t completely recovered in this state, though. Kansas is home to some world-class casinos, yet these properties are still struggling to earn revenue. Reports have recently surfaced that show how much money the different casinos here brought in last month.

Here’s where things stand.

Here’s How Much Casino Revenue in Kansas Fell in July

As we’ve already mentioned, the past few months have been extremely difficult for US casino companies. Some parts of the country have seen their revenue earnings slowly increase. Over in Kansas, some casinos are faring better than others.

The Kansas Racing and Gaming Commission has just released a report showing how much the state’s different gaming venues managed to bring in. Many are focusing on the Hollywood Casino & Resort, which earned just over $8,511,480. That represents a 32% drop from the same month in 2019.

Over in Mulvane, the Kansas Star Casino & Resort brought in $13,811,839 during the month of July. In July of 2019, this venue managed to bring in $15,603,150.

It’s clear that casino revenue in Kansas is lower than it should be. Fortunately, things seem to be improving month-to-month. Most of the casinos here saw their revenue jump when compared to June.

We’ll soon see how much casinos here were able to bring in during August. Most analysts feel that things will improve. Make sure to stay tuned for updates!

Will Kansas Begin Regulating Other Forms of Gambling?

Prior to 2020, the land-based casino industry in Kansas was surging. Many felt this state could become the next major gambling destination of the Midwest. Now, several lawmakers here are taking a closer look at other forms of gambling regulation.

We’re seeing states with regulated sports betting options earn a tremendous amount of money right now. It’s no surprise that so many states are now looking at this industry, as well. Many feel that several more sports betting bills will be approved before the end of 2020.

Kansas has not yet approved any measures to legalize sports gambling. Several bills have been presented over the years, yet none have made it through the House and Senate. This may still change before the year is over.

Online casinos in Kansas are already growing more popular. This trend is likely to continue as time goes on and many feel it’s time for the state to regulate this industry. We’ll continue offering updates on this situation over the next few months.

It could be months before we see casino revenue in Kansas increase to 2019’s level once again. In the meantime, casino companies will be looking at new and exciting ways to draw in players.

Are you surprised at the revenue reports here? Let us know in the comments section below!