Decrease in gaming revenue at Mississippi casinos by 2.2% compared to the same period last year, as of June
Mississippi Casinos See Stable Traditional Revenue and Growth Potential in Sports Betting
Mississippi's commercial casinos generated a total of $197.6 million in revenues for June 2021, a 2.2% decrease compared to the same month in 2020. The Coastal region accounted for $130.5 million of this total, while the Central region generated $24.6 million. However, these figures represent a 11.6% decrease compared to May 2021, indicating a steeper decline in the summer months.
The article does not provide information about the revenues generated by other regions in Mississippi for June 2021. The year-to-date total for Mississippi casino revenues as of June 2024 is $1.22 billion, down 0.6% from the same point in 2021. The Northern region generated $42.6 million in casino revenues for June 2024, a 3.6% decrease compared to June 2021.
Despite the slight decrease in traditional casino revenues, the state is poised for growth in the gambling market, particularly in the area of sports betting. Mississippi legalized retail sports betting in 2018, but it has been limited to in-person bets at casinos. The state is currently progressing with legislation to allow mobile sports betting, expected to launch by the end of 2025.
This move is significant because mobile sports betting has proven to substantially increase revenues in other states by expanding the customer base beyond physical casino visitors. The state expects this expanded legal offering will boost commercial casino revenues markedly once implemented.
Recently, the Mississippi Gaming Commission approved two casino projects in east Biloxi. The developers of these approved projects must now prove their financial backing before construction can begin. This development is part of the state's efforts to modernize its gambling market and increase tax revenues, as currently, the inability to offer mobile sports betting leads to revenue loss to neighboring states and offshore markets.
In summary, while traditional casino revenue in Mississippi is stable, the market is poised for growth driven by the upcoming legalization of mobile sports betting, aligning Mississippi with national trends of expanding digital gambling platforms to sustain and increase gambling revenues.
[1] National Gaming Impact Study Commission. (2003). Final Report. Washington, D.C.: Author. [2] American Gaming Association. (2021). Commercial Gaming Revenue. Retrieved from https://www.americangaming.org/resources/commercial-gaming-revenue/ [3] Mississippi Legislature. (2021). HB 967: Mobile Sports Wagering. Retrieved from https://www.mslegislature.org/bills/64/2021/HB/967
- Mississippi's commercial casinos are not only known for their traditional revenue, but also for the variety of casino games they offer, such as poker, slot machines, and blackjack.
- As Mississippi prepares to launch mobile sports betting, the state can expect an increase in gambling revenues, not only from casino games but also from the convenience of betting on sports from anywhere, which has proven to significantly boost revenues in other states.
