Mississippi Casinos Down 3.2% To $2.07bn In 2014

Mississippi Casinos Down 3.2% To $2.07bn In 2014The Mississippi Gaming Commission has released its gambling figures for December 2014, revealing statewide casinos generated $168 million in revenues last month, lower by 0.2% compared to the $168.3 million taken in the same month last year. From that tally,  coastal casinos generated 1% less revenues at $84.6 million, while the state’s 17 river casinos won $83.4 million, higher by 1% compared to the same month in 2013. Commenting on a disappointing 2014, Tunica Convention & Visitors Bureau CEO Webster Franklin said:
“The best thing about 2014 was December, and where we finished up over December from the year prior.”
Overall, statewide revenues for the whole of 2014 fell by 3.2% to $2.07 billion, lower by roughly $70 million from the $2.13 billion taken in 2013, and representing the lowest tally since 1997, when ‘The Magnolia State’ generated $1.98 billion in revenues. Mississippi’s casino revenues have now shrunk in seven out of eight years since reaching a peak of $2.89 billion in 2007, with much of the blame explained by increased competition from neighboring states. As Webster Franklin commented:
“How can we remain competitive in an ever-changing environment?”
In 2014, the state’s river casinos generated 7.8% less revenues at $988 million, although the Gulf Coast actually reported a 1.4% rise in revenues last year to $1.08 billion, and commenting on the results, Alan Godfrey from the Mississippi Gaming Commission described South Mississippi as “the shining star” of the state’s casino market in 2014. Despite Mississippi over the past decade dropping from the USA’s third-biggest casino market to its sixth-biggest, Godfrey said Mississippi casino industry still remained a solid, well-respected market. Godfrey’s comments were made during the Mississippi Gaming Commission’s meeting this month, which took place at the Island View Casino Resort, whose restored hotel tower will reopen in April at a cost of $58 million.

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