|JEFFERSON CITY, MISSOURI – The Missouri casino industry generated $508 million in gaming tax revenue for Missouri last year, according to the 2013 Missouri Gaming Association Annual Report. More than $371 million went to the state’s School Foundation Formula to fund education.|
Missouri’s casino industry provided more than 10,000 local jobs in 2013 with a payroll of $328 million. Forty-seven percent of Missouri casino workers were minority and 37 percent were women.
More than $81 million of gaming tax revenue went to local “home dock” communities in 2013. Local communities with casinos allocate gaming fund to a variety of projects ranging from roads and bridges to parks, police departments and fire protection.
Since gaming began in Missouri in 1994, host communities have received a total of $1.36 billion in gaming tax revenue, including:
Casinos also contributed $1.7 million in cash and in-kind donations, and volunteered thousands of hours to local charitable organizations in 2013.
The St. Louis/Southwestern Illinois metropolitan region is the 7th largest casino market in the U.S. while Kansas City, Missouri is the 11th largest. Missouri ranks 7th in total state gaming tax revenue among casino markets nationwide, and 8th in consumer spending on commercial casino gaming.
Missouri casinos operate in one of the highest-taxed casino jurisdictions in the country, paying an effective tax rate of nearly 27% off the top, in addition to other business, real estate and sales taxes.
The Missouri Gaming Association (MGA) is the statewide trade association of the Missouri casino entertainment industry and its related professionals. Formed in 1993, the Missouri Gaming Association provides research and information to increase awareness of the economic benefits of Missouri’s casinos. For more information, visit www.missouricasinos.org.
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Source: Missouri Gaming – news