Missouri is starting to become one of the hottest and fastest growing gambling destinations in the US - albeit, Missouri will never be a Las Vegas or Atlantic City.  Rather, the St. Louis area is known for its horde of riverboat casinos and slot parlors that are ever-more-frequently dotting the Mississippi River.  With such an increase in gambling revenue (as well as more demand), the competition amongst casinos and gaming companies is at an all time high, which some industry professionals are beginning to question if it is too high.

The statistics on Missouri's gambling industry show massive growth since the first Missouri casino (Alton Belle) opened in 1991.  Since that time, Missouri has added an additional two casinos, while nearby Illinois (considered the St. Louis gambling market) has opened two of their own.  With an increase in revenue by over 13% in 2005, it is expected the industry will bring in over $1 billion in 2006 (Last year's total was approximately $960 million).

It is clearly evident that St. Louis is hungry for casinos.  However, considering all of the new gambling projects scheduled in the area, there is concern that even with such a large demand, the supply is beginning to overtake the demand.  For instance, Pinnacle Entertainment is planning to invest $800 million in building two casinos (one in Lemay and one in downtown St. Louis) over the course of the next 2 years, while Ameristar Casinos Inc. is adding a $240 million resort style hotel to its existing casino in St. Charles.  In the midst of all this, the Casino Queen St. Louis riverboat casino is investing $150 million to renovate its site into a floating barge with an inland moat.  As for Harrahs Casino St. Louis, they completed building a $65 million addition to their Maryland Heights Casino no too long ago.

Despite the flurry of activity, most investors think the St. Louis gambling market is a safe bet.  The demand has stayed consistent all of these years, with steady growth in all areas across the board.  Now that more residents feel safer gambling in Illinois and Missouri, and that more visitors are making the trek from other states to get a taste of Midwestern slots and casino action, as it were, the heat is on for gaming companies and casinos to tap the market.