Mississippi Casino Gambling Revenue Down In August

The Mississippi State Tax Commission released casino gambling revenue for the month of August and the news was not good. After a strong July, revenue dropped by almost ten percent in August.

The Mississippi casino industry was hoping that July would begin a turnaround after months of struggling through a rough economy. The strong July made the figures from August even more sobering.

In August, revenue was $206 million at state casinos. That figure represents a nine percent decrease from the $224.4 million they won in July. When compared to August of 2009, the figures look even worse. In August last year, casinos won $238.2 million, and that was in the face of the economic recession.

"What casinos are finding out around the country is that it is going to be a slow process for gaming revenue to go back to where it was before the recession," said CGW Gaming Analyst Brad Dawkins, "Hurting these casinos even more these days is an increase in competition."

Many states have used the recession as a reason to expand their casino gambling laws. States that have never had casinos now do, and others where casinos already existed have added new casinos in different areas of their state. It has made it difficult on the existing casinos.

Location was not much of an issue in Mississippi. Gulf Coast casinos' revenue was down to $96.4 million in August from $104.1 million in July. Casinos along the Mississippi River had revenue of $120.6 million in July and that figure fell to $109.6 million in August.

September 23, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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