Casinos in Mississippi began 2017 on the wrong foot, having won almost 7% less from gamblers this past January when compared to the same month last year. The Mississippi Department of Revenue reported that for January 2017, the state earned only $99 million, which was much lower than the $101 million earned during the same time frame in 2016. Revenues for February have now been released by the State Revenue Department which show the casinos of the state continue to underperform, with even bigger losses taking place last month.
The 12 coastal casinos of the state posted revenues of $95 million which is a 9% drop from the $105 million earned in February of 2016. This is the second-sharpest drop in monthly revenue to take place along the Gulf Coast in a four-year time frame.
When looking at the 16 Mississippi River casinos, the revenues were down 10% when compared to year-on-year totals, with only $77 million in earnings compared to $86 million from a year prior. Gamblers visiting the venues lost $172 million for the month, which is much less than the $190 million in February 2016.
The region has continued to see falling revenues over the past few years and this is just another blow to the overall gambling industry of the state. When looking at revenues from the Gulf Coast Counties and Mississippi River combined, the total comes to $171,855,674.57 for the month. On a positive note, this amount is much higher than the total amount earned in January of this year, which came in at $165,752,096.48.