Terrible's

revenue

remains solid

Terrible's St. Jo Frontier Casino took in nearly $3 million in November, equal to what it was a year ago, as its revenues continued a strong year-end showing.

Despite navigating a recession, Terrible's gross revenue has grown 3.3 percent to nearly $34 million in the first 11 months of 2009.

Its only bad month was in August, when revenue dropped 3 percent. All figures are in comparison to the same period in 2008.

Terrible's attributes its steady roll to three factors: riverboat casinos being a good source for affordable hometown enjoyment, more people taking "stay-cations" rather than traveling out of town, and the repeal of a $500 loss limit in November 2008.

The loss limit was unique to Missouri. It involved a computer system tracking gamblers' movements and capping their losses at $500 per two-hour boat excursion. Supporters of the repeal said it had made Missouri casinos less competitive than those in bordering states.

The latest figures from the Missouri Gaming Commission also show that the St. Joseph casino tallied 49,808 patrons in November, or an 11 percent increase over November 2008 when 44,971 patrons entered Terrible's.

Severn gets

cable honor

CableFax Magazine has named Bill Severn, chief operating officer of NPG Cable, as one of the top regional executives in the country.

The magazine said: "An indie cable stalwart, Bill leads NPG Cable, which won our '09 Independent Operator of the Year Award. Severn literally rebuilt a string of small, acquired systems by deploying advanced services."

NPG Cable includes St. Joseph Cablevision.

Foreclosures,

prices both up

There was a mix of good and bad news last week in St. Joseph's real estate sector.

Local Market Monitor, a real estate forecasting company, released its fourth-quarter Home Price Forecast that listed St. Joseph as one of 10 communities expected to post strong gains in home prices over the next 12 months.

The group, which tracks 300 local markets, expects 2 percent to 4 percent price increases in St. Joseph. The Market Monitor said St. Joseph is in a smaller market that will probably have higher prices because of less excessive home building.

Other communities on this list includes: Abilene, Brownsville-Harlingen, Odessa, Texarkana and Waco, all in Texas; Florence-Muscle Shoals, Ala.; Kennewick-Pasco-Richland, Wash.; Lake Charles, La.; and Muncie, Ind.

At the same time, foreclosure rates in St. Joseph have increased for the month of October over the same period last year, according to First American CoreLogic, a collector of data on home prices, foreclosure and delinquency activity.

The rate of foreclosures among outstanding mortgage loans is 1.16 percent for the month of October, an increase of 0.49 percentage points compared to October 2008.

Foreclosure activity in St. Joseph is lower than the national foreclosure rate, which was 3.02 percent for October 2009, representing a 1.86 percentage point difference.

Also in St. Joseph, the mortgage delinquency rate has increased. In October, 5.45 percent of mortgage loans were 90 days or more delinquent compared to 3.41 percent for the same period last year, according to First American CoreLogic.

- News-Press reports