June Gambling Revenue Flat in Mississippi

Written by:
Published on:

JACKSON, Miss. (Associated Press) - Mississippi's casino revenues were basically flat in June, as a recovery at gambling halls along the Mississippi River barely made up for losses on the Gulf Coast.

Overall revenue rose less than 1 percent from June 2011, to $186.9 million, according to Mississippi Department of Revenue figures released Tuesday. Statewide revenue was basically flat with May, down less than $150,000.

In June, the 12 coastal casinos won a total of $89.9 million from gamblers, down 4.3 percent from the $94 million that they won in June 2011.

The 17 river casinos from Tunica to Natchez won $97 million, up 5 percent from $92 million in June of last year. That month, riverfront casinos were still recovering from the flood that led to widespread shutdowns in May 2011.

The numbers exclude Choctaw Indian casinos, which aren't required to report their winnings to the state.

The coast's lower total comes despite June being the first full month at the Margaritaville Casino & Restaurant in Biloxi. The Mississippi Gaming Commission, when it licensed the Jimmy Buffett-themed casino, had voiced confidence that it would help expand the overall gambling market in Mississippi.

Margaritaville said Tuesday it would open a branch at the Resorts Casino Hotel in Atlantic City, N.J., in 2013. That would be its fourth casino. It's building a third in Bossier City, La., in addition to locations in Biloxi and Las Vegas.

Mississippi's gambling halls have struggled to regain momentum after the recession, with revenue sliding for four straight years after hitting a high of $2.89 billion in 2007. Revenues are 1.44 percent higher over the first six months of 2012, but less than 1 percent down on a rolling 12-month basis.

Some investors are still interested in casino expansions in Mississippi. Tuesday, the Biloxi City Council agreed to exempt a new 154-room hotel tower at the Hard Rock Casino Biloxi from some property taxes for 12 years. The exemption is meant to encourage Leucadia National Corp., which owns the Hard Rock, to build the $32.5 million structure. At least three other ownership groups on the coast are trying to win Gaming Commission approvals and raise money to build gambling halls.

Along the river, a second casino is under construction in Natchez.

Next door to Mississippi, Louisiana's state-licensed casinos took in nearly $203 million from gamblers in June. That's a 3 percent growth in winnings from June 2011 but a slight dip from May 2012.

Gambling News

Gifcoin.io, Vitalbet.com Makes Waves in Crypto Gambling Community

Gifcoin.io, Manny Pacquiao Backed Vitalbet.com Makes Waves in Crypto Gambling Space

"GIFcoin Shares Profits from Online Betting Through Successful VitalBet Platform", this is the headline prominently featured on the Bitcoinist.com website.

Man Arrested for Stealing Food From Casino, Punching Employee in the Face

Man Arrested for Stealing Snacks From Casino, Punching Employee in the Face

A 25-year-old man has been arrested after allegedly trying to steal snacks meant for casino customers then attacking an employee who tried to stop the theft.

White Man in Black Face Robs Strip Casino

White Man in Black Face Robs Strip Casino

Authorities in Las Vegas have been on the lookout for an African American man who is accused of stealing $23,367 from a casino cage at the New York-New York Hotel & Casino on Jan. 10.  But that African American man turned out to be a Caucasian in black face.

Aide to Top Vegas Prosecutor Stole $42K to Fuel Gambling Addiction: Blames Dogs

A longtime aide to the top prosecutor in Las Vegas blamed a gambling habit for taking nearly $42,000 from her boss's campaign and was permitted to repay the money instead of facing criminal charges.

SBC to Host 5th Annual Betting on Football Conference: Focus on Affiliates and Regulators

SBC to Host 5th Annual Betting on Football Conference: Focus on Affiliates and Regulators

This year's 5th installment of Sports Betting Community (SBC)'s Betting on Football Conference, to be held at Stanford Bridge, will feature a handful of bootcamps including one that focuses on the explosive eSports wagering sector and another that looks to better prepare affiliates for further government regulatory enforcements.