Mississippi Gambling Revenues Still SlumpingRevenues Worse In 11 Out Of The Past 12 Months |
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Commercial casino revenue in the state of Mississippi is reportedly still struggling.
According to the most recent numbers released by Mississippi officials, revenue in June 2013 fell seven percent compared to the same month last year. The total figure this year was $174.5 million.
The Associated Press reported that casino revenue in the state has been worse 11 out of the past 12 months, when compared to the figure from the previous year. This past May was the exception, as revenues rose by three percent during that period.
Mississippi has 30 commercial casinos, according to the most recent information provided by the American Gaming Association, the commercial casino industry’s top lobbying group on Capitol Hill. Casinos were legalized in the state in 1990, with the first one opening about two years later. The best year ever for casinos in Mississippi was 2007.
The decrease in revenues can be at least partly attributed to increased casino competition in the region. Compared to other states, Mississippi still brings in quite a bit of money from casinos – about $2.2 billion a year. Nevada, for example, sees its properties win about $10 billion annually. Other states with strong commercial casino industries include New Jersey and Pennsylvania, though New Jersey, like Mississippi, is struggling.
For more news from Mississippi, check out its state page.
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