Information on revenues earned during the month of May by casinos in the state of Mississippi has been revealed and findings show the state has seen a decrease in overall gaming revenues. The results of both land based casinos as well as riverboat venues showed a 4% drop from May 2015 to this May. In 2015, the state earned $185 million for the month while this year that amount dropped to $177 million. The decrease was reportedly to be due to the riverboat gaming venues drop in revenue of over 14% when considering year-on-year results.
Along the Mississippi River, there are sixteen casinos, which generated $85 million in May 2015. This year, the riverboat casinos only earned $73 million which is a considerable drop from just one year ago. The land based casinos in the state amount to twelve, all of which earned a total of $104 million, which was a 4% increase from the same month last year, when the land based venues earned $100 million.
While analysts have been hoping that riverboat casinos would stabilize, they continue to see a drop in revenue earnings. However, the land based casinos have seen an increase in revenues for four out of the five months of 2016, actually reporting the most profitable month of May since 2008 when $107 million was earned.
So far, the year-to-date earnings for land based gaming revenues are ahead at $26 million more than anticipated, when considered based on figures posted for the same period of last year. Last year at this time, the state had only eleven land based venues until December when a venue in D’lberville opened. The Scarlet Pearl venue offers several gambling options as well as amenities that were estimated to help the industry bring in additional revenues once opened.