Mississippi casino revenue fell from $198 million in March 2015 to $188 million in March 2016, after Gulf Coast properties such as Harrah’s Gulf Coast and Hollywood Casino Bay St. Louis recorded a slowdown of 4% y-o-y.
These numbers were revealed last week by the state’s Revenue Department and show that the overall casino revenue declined for 5%. Mississippi River gaming properties generated $85 million, meaning their revenue dropped at about 7% in comparison to the same period last year. These numbers, however, aren’t surprising considering the fact that River casino revenues have been falling for years. In fact, the drops seem to have become smaller in the past few months.
The problematic 12 Coast casinos at least managed to top $100 million in revenues three months in a row. In March, they reported revenue of $103.2 million, 4% less than last year’s $107.4 million. Nonetheless, it should be noted that in January the revenue was better for 15% and in February it went up for 10%; thus, y-t-d revenue is $18.6 million ahead of the same period in 2015. Plus, this drop in revenue for Gulf Coast casinos is only the third one in the last year.
Since Choctaw Indian casinos don’t report their winnings to the state, their performance and numbers weren’t included in the calculations.
In 2015, Mississippi gaming revenue noted a rise, which was the second one recorded in eight years. In 2016 this segment has grown for about 2% so far.