Minimal Revenue Decline At Mississippi Casinos In July

The month of July is always better for casinos around the US than the month of June when it comes to gambling revenue. That was particularly the case this year in Mississippi, where casinos experienced a large month to month gain.

In July, revenue for the thirty casinos in Mississippi was $224.3 million. That is an increase of nearly $35 million from June. In June, revenue from the casinos was $189.4 million. In July of 2009, the casinos won $224.8 million.

"While the year over year revenue was down in July, it was not as bad as has been seen in previous years," said Gaming Analyst Steve Schwartz. "Whether or not that trend will continue depends on how far and how fast the US economy can recover from the economic recession.

The Gulf Coast started having trouble with revenue even before the recession. Hurricane Katrina devastated the area and many of the casinos in the Gulf Coast were closed for extensive periods of time. Once the area had almost recovered, the recession hit, causing revenue to drop to all-time lows.

It was not just the Gulf Coast that was dealing with dropping revenue figures. Las Vegas and Atlantic City, considered to be two of the biggest gaming destinations in the world, have experienced major losses that have even caused some casino resorts to close.

Competition is becoming intense all across the US with lawmakers using casino expansion as a way to help deal with the budget deficits that have accrued during the recession. Pennsylvania, West Virginia, Florida, and California are among the states that have made major changes to their gaming laws in the past couple of years.

August 21, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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