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Mississippi Casinos Report A Drop In Revenue

Mississippi Casinos Report A Drop In Revenue

In one year the total collection of Mississippi’s revenue has dropped by 2% from $171 million last year to $168 million.

Considering the individual markets the 12 coast casinos reported a less than 1% year over year at $98 million, showing five out of six monthly increase for the Magnolia state. Around 16 river casinos witnessed their winning drop by more than 4% from $73 million to $70 million for August 2016.

Due to this Coast casinos revenues are right now at $808 million for the initial eight months of 2017 which is a massive lag behind last year number of $810 million by more than 2% but an improvement on the $781 million taken in 2015. The overall state revenue is down by 1% since the past one year.

Due to this sudden fall casino operators have decided to reduce the number of their employees since last August by 283 to 9,394. Currently, 13970 slot machines are displayed on casino floors or 574 less than how much they were 12 months ago.

Mississippi was one of the first US states aside from Nevada to legalise casino gambling in 1992. Remembering the day executive director of Mississippi gaming association, Allen Godfrey said that he was there when the first boat opened for business and sailed from Mississippi River from Iowa to Biloxi and expressed that it was an amazing run.

Mississipi’s casinos generated revenues of $2.12 billion in 2016 up by 1% from last year. However, this did not change the downfall of business since the industry hiked$2.89 billion in 2007.