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Mississippi casino revenue surge in August

Mississippi casino revenue surge in August

The Mississippi casino registered a sharp growth in August. This surge can be attributed to initiation of sports betting in the state. State revenue department of the state released some figures on Thursday which showed that gamblers lost $181 million in bets placed in August, which marked an increase of 8 per cent from $168 million in August 2017.

Casino executives and regulators hope that sports betting would mean that gamblers lost more money on casino games and more players staying in casino hotels and eating in restaurants. Reports suggest that $645,000 of the amount lost was on sports betting with $7.7 million in bets placed in August. 

The figures are expected to be sharper this month in September as football season will get in full swing this year. McDaniel said that commission plans analyse if sports betting is creating increases in sectors too and if it is then by how much.

The verdict released by the US Supreme Court decision allowed states to join Nevada by making betting in other states legal.

Overall, revenue rose 10 per cent to $108 million at the 12 coastal casinos, up 10 per cent from August 2017.

Revenues of16 river casinos rose $73 million which is 4 per cent more from the previous year.

The Numbers however exclude Choctaw Indian casino that do not make the state aware of the winnings.

The state collects approximately 8 percent tax on revenue which includes casino winnings from sports betting. That was good for about $52,000 in August.