CASINOS TO LOSE MONEY WITHOUT SLOT MACHINES

Sixteen gambling casinos in Missouri reported revenues of $15.3 million in April while Illinois' revenues for nine casinos topped $20.9 million for the same month.

If you add revenues from slot machines, the totals jump to $65 million in Missouri and more than $90 million in Illinois.

But slot machines, which account for almost 70 to 75 percent of gambling revenues, are suddenly on the endangered list in Missouri.

"You can't make money if don't have slot machines," says a representative for the gambling industry.

Last week, the Missouri Gaming Commission voted to begin action to remove slots and other games of chance from so-called "boats in moats."

However, the ruling will not have any immediate bearing on the games of chance. Casinos have 30 days to appear for an administrative hearing. Each case will be heard separately, before any recommendation is made to the commission.

Nearly 10 of the 16 riverboat casinos operating in Missouri are moored in man-made basins off the Missouri and Mississippi rivers, including the Riverport Complex at Maryland Heights, a four-casino operation by Harrah's and Players.

The Riverport revenues during April were $14.7 million -- $7.5 million by Harrah's and $7.2 million by Players.

Of those totals, only $3.7 million came from table games. The remaining $11 million were from the more than 2,700 slots in the four casinos.

If the boats in the moats lose their slot machines, their owners are blunt about what they will do ... leave Missouri.

The Missouri Gaming Commission ruling will have no effect on Casino Aztar, located along the Mississippi River at Caruthersville.

Casino Aztar, which has 27 table games, reported only $469,000 from the table games, but tripled the revenue take on 432 slots, at $1.4 million.

Ironically, the recent ruling came from the same five-member commission that approved the slot operations in the first place.

But the Missouri Supreme Court ruled voters had approved games of chance only for casinos that float on the rivers, not those in artificial basins.

That ruling forced the Gaming Commission, a group that regulates gambling in Missouri, into the position of rescinding approval to operate.

"It was this commission that authorized these boats to be where they are, the very folks that are now authorizing discipline," said Mike Ryan, director of the Missouri Riverboat Gaming Association.

Robert Wolfson, commission chairman, said the commission had no choice but to see to it that the Supreme Court's interpretation is enforced.

This marks the second time in Missouri gambling history that the Supreme Court has entered into a decision.

When the original riverboat gambling issue passed in November 1992, more than 2.2 million voters turned out, with 1.4 million casting ballots for gambling.

The Missouri Supreme Court later ruled only games of skill could be played in riverboat casinos. That eliminated slot machines, which account for two-thirds to three-fourths of the revenues generated at casinos.

Missouri voters went back to the polls. This time they voted against slots.

After a petition drive, the issue was again placed on the November 1994 ballot. Slots were approved.

Somewhere along the way, the ballot wording did not specify that "boats in moats" could have slots. Thus, the Supreme Court ruled that voters approved games of chance only for casinos that float on the river.

Even if the gaming commission upholds the decision to withdraw the slot machines, the casinos could appeal to the courts.

Meanwhile, the gambling industry is close to gathering the 107,000 signatures needed to send the measure to the voters again for the Nov. 3 election, making it likely voters will decide the issue before the commission or the courts get the chance.