Missi Casinos
23rd January, 2009
Along with everyone else another state added itself to the long list after reports Casino Revenue in Mississippi dropped by around 5.9 percent.
The drop was clearly not unexpected however, with industry insiders and regulators expecting this result after reduced numbers of customers spending. It is though, above the national average. According to the American Gaming Association (AGA), casinos across the country had reported losses in profit averaging at 3.6 percent.
The State Tax Commission of Mississippi figures that were released on Wednesday, showed that coastal casinos racked in only $1.26 billion in comparison to $1.3 billion in 2007, while along the Mississippi river casinos reported revenue of $1.46 billion compared to $1.59 the year before.
Scoot King, director of research and policy at the Gulf Coast Business Council in Gulfport, “Notably overall numbers at the midway point (June 2008) were actually up slightly over 2007. This under scores what other indicators, such as sales tax diversions and employment levels are suggesting that our slowdown really started to impact us closer to September.”
Mr King was also quoted as saying, “Our year-on-year data for earth month wll continue to see slight declines leading up to the summer months.”
By Rommon
