Revenue Drops At Tropicana’s Lumière Place

Fri, May 16, 2014

St. Louis casino market revenue dropped about 5 percent in April compared to 2013. Part of that decline included Lumière Place, where revenue fell 15 percent, or $11.1 million, in its first month as a Tropicana Entertainment company. Tropicana purchased Lumière Place casino and two on-site hotels from Pinnacle Entertainment for $260 million.

In its first month as a Tropicana Entertainment company, revenue at Lumière Place in St. Louis, Missouri dropped 15 percent, or .1 million, since March, according to Missouri Gaming Commission figures. Compared to April 2013, April 2014 revenue was down 14 percent—partly due to the one-day shutdown on April 1 when systems were switched to Tropicana from Pinnacle Entertainment, which completed its sale of the casino and its two hotels, HoteLumière and the upscale Four Seasons, to Tropicana for 0 million on that day. Gambling revenue had been declining for more than a year under Pinnacle’s ownership.

The Federal Trade Commission required Pinnacle to sell Lumière Place as part of its $2.8 billion purchase of rival Ameristar Casinos. That deal was completed in August and included Ameristar Casino in St. Charles.

Overall revenue in the St. Louis area casino market fell by 5.2 percent, to $83.2 million, from April 2013 to April 2014.

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