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Mississippi Casino Revenue Keeps Dropping

Mississippi casino income continued to tumble in January, with gamblers losing significantly less than in any other January due to the fact 1997.

Statewide casino revenue fell 9 % to $161.two million, according to Mississippi Division of Income figures.

The state’s gambling halls eked out a 1 percent acquire in 2012, since revenue rebounded soon after most Mississippi River casinos have been affected by 2011’s floods. But year-over-year casino income has fallen in every month considering the fact that July.

The 18 river casinos from Tunica to Natchez won $77.9 million, down 13 percent from the $89.2 million they won in January 2012. The 12 coastal casinos won $83.three million from gamblers, down 5 % in the $87.8 million they won in January 2012.

The numbers exclude Choctaw Indian casinos, which are not expected to report winnings towards the state.

Revenues rose at Mississippi casinos in 2012 right after falling every year given that peaking in 2007. But even together with the slight rise, they remained 22 percent beneath the leading level.

Income was greater at coastal casinos in January than at river casinos, though the river market place is traditionally larger. January is usually among the weakest months at the river casinos, even though it is somewhat stronger along the Gulf of Mexico.

Part of the recent weakness at Tunica and Lula casinos has been competitors from expanded gambling venues in Arkansas. But, Mississippi Gaming Commission Chairman John Hairston mentioned it’s incorrect to chalk up all of the casinos’ issues to rivals in other states.

“We are inside a recessionary period,” Hairston mentioned following the Gaming Commission meeting Thursday. He stated competition “is not the only factor” and he believes that the casino sector could resume growth.

Next door, Louisiana’s state-licensed casinos won $185 million from gamblers in January, basically flat from the very same month in 2012.

 
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