Gaming Missouri July Casino GGR +5% Y/Y

Research evidence excerpt

J P M O R G A N

North America Equity Research

10 August 2026

Gaming

Missouri July Casino GGR +5% Y/Y

Missouri July casino GGR of $176.8m was +5.4% y/y. Slot revenues were

+5.3% y/y, while table revenues were +6.7% y/y. July 2026 had nine weekend days

while July 2025 had eight.

BYD. July GGR across BYD properties was +6.3% y/y. At BYD’s Ameristar

St. Charles, GGR of $27.1m was +5.8% y/y, while Ameristar Kansas City GGR

of $18.7m was +7.0% y/y. For 3Q, we forecast GGR +2% y/y across the

properties.

Gaming & Lodging

Daniel Politzer, CFA AC

(1-212) 622-0110

Samuel Nielsen

(1-212) 622-1366

Michael Hirsh, CFA

CZR. July GGR across CZR properties was +3.6% y/y. At Harrah’s North KC,

GGR of $15.6m was +7.5% y/y, while Horseshoe St. Louis GGR of $14.6m

was +1.1% y/y, and Isle Boonville GGR of $8.4m was +0.9% y/y. For 3Q, we

forecast GGR +3% y/y across the properties.

(1-212) 622-0295

J.P. Morgan Securities LLC

PENN. July GGR across PENN properties was +7.2% y/y. At River City, GGR

of $24.4m was +9.5% y/y, while Hollywood Casino St. Louis GGR of $23.3m

was +5.4% y/y, and Argosy Riverside GGR of $14.5m was +6.3% y/y. For 3Q,

we forecast GGR +2% y/y across the properties.

The authors wish to thank Kartik Sood of

the J.P. Morgan Global Research Center

for contributions to this report.

Keep going… Our detailed charts and tables follow in the body of this note.