Mississippi Casinos Revenues Are Down Yet Again
Here at Casinos Online we try and keep you up to date with all the latest news on which companies are making money and which ones are not. Over the past couple of weeks we have brought you news on record figures for 32Red, while we reported Bwin had announced lower than expected figures for the first part of the year. Today we can bring you news on casinos in Mississippi and the figures are disappointing as they are down on the same period as last year.
The Mississippi Department of Revenue Figures have today released the latest figures for June and they do not make for good reading. The overall casino revenue is down 7% on the same period last year and currently stands at $174.5million. Over the last year 11 out of 12 months have been down on the previous year, with just May as the exception as figures were up 3% during this period.
The 12 coastal casinos in Mississippi reported overall figures of $85.2million for June, a figure that is down 5.2% on the $89.9million from the same period last year. The 18 river casinos fared no better as they reported revenues of $89.3miilion, but that was down an even bigger 8% on the same time as last year.
While $174.5million may seem like a huge sum of money to some people, and it is, the percentages show the decline is quite alarming and something will need to be done and done soon in order to arrest the sharp decline. A year is a long time in business, but this time next year casinos in the state of Mississippi could be forced to close their doors for good if nothing is done to arrest the current decline in figures.