Mississippi Casinos Encouraged by May Earnings

Saturday, June 29th, 2013 | Written by John Marsh
Mississippi Casinos Encouraged by May Earnings

May proved to be a good month for casinos in the state of Mississippi. According to the casino revenue report for the month of May, Mississippi earned $192.7 million in net revenues from gambling establishments. This was 3% more than what they earned in April 2013, which is a good sign, as most casinos across the country have been reporting a decline in their revenues. Mississippi State has a number of small and big casinos including those operated by Indian tribes, and almost every one of them posted an improvement in the revenue.

First Month of Growth This Year

Since the beginning of the year, casinos across Mississippi and the rest of the US had been reporting a decline in their revenues, as compared to what they earned last year. May, however, proved to be a good one for many casinos in the country, especially those in south Mississippi.

The growth in the revenue reflected the strength of the casinos in the region and a sign that good times could be ahead for them in the summer months.

South Mississippi Casinos Benefit More

When compared to May 2012, Mississippi casinos generated more than $192.7 million in revenues in May 2013. The 12 casinos in the south Mississippi region generated total revenue of over $95 million, which is a 4.5% increase from last year. Along the coast, this was the second time during the year that these casinos had reported a year on year increase in the revenues, the first being in March. While the revenue increased by a decent percentage, the net revenue were at a 2000 low, when the casinos were severely affected by the hurricane Katrina.

Tunica Casinos Report Revenue Growth

The Mississippi riverside casinos, which include 9 Tunica casinos, have also reported year on year improvement in their revenue during May. The Tunica Casinos reported revenues of $97.6 million for the month, which was more than $96.05 million these casinos earned in May 2012.  Tunica casinos also reported an increase in revenue from the month of April 2013, when the casinos earned a total of $90.5 million. The first three months of the year were good for casinos in Mississippi, when they reported an increase in revenue. In April however, the revenue dropped a little, but May was encouraging.

The gulf coast also saw an increase in casino revenues to $95.1 million this May from $90.9 million in May last year.

Figures Encouraging, But Future Not Certain

The figures for May are certainly encouraging, but that is not enough to predict a positive future for casinos in Mississippi. Deciding how the future can be hard based on just one month’s performance. The deputy director for Mississippi Gambling Commission, Eddie William said they hoped the casinos would deliver similar performance consistently through the rest of the year, like they did from January to April earlier this year. While experts are not making any predictions, they sure are hoping it is a trend that stays strong through summer, when the state gets tourists from across the country. In any case, experts believe that it could take years for the casinos to grow.