Mississippi Casinos Post 7.1% Growth in March

The state of Mississippi generated casino revenues of $201.7 million in March, marking a 7.1% improvement over the $188.3 million that was taken in the same month last year. From that tally, the coastal casinos accounted for $110.1 million, up by 6.7% compared to March of 2016, while the river casinos also noted a solid 7.6% increase in revenues to $91.5 million, according to the latest statistics released by the Mississippi Department Of Revenue.
The latest figure was welcome news after the Magnolia State saw its casino market plummet by 10% year-on-year in February to $171.8 million. Nevertheless, a spike in earnings was expected as March is customarily the busiest month of the year for the state’s casinos, as players often take their income tax refunds to the venues to gamble.
Furthermore, the Scarlet Pearl Casino Resort of D’Iberville enjoyed its second-best month to date since opening in December 2015, according to its CEO LuAnn Pappas.
In 2016, Mississippi’s casinos generated revenues of $2.12 billion, up 1% from the previous year, and marking only the second year of growth following seven years of decline. The numbers are still a far cry from their peak of $2.89 billion in 2007, though.
In less welcome news, a recent study produced by WalletHub has found that Mississippi was the fifth ranked state in the country in terms of gambling addiction, behind Nevada, South Dakota, Montana, and West Virginia. As explained in an article featured in Scientific American:
“Just as substance addicts require increasingly strong hits to get high, compulsive gamblers pursue ever riskier ventures. Likewise, both drug addicts and problem gamblers endure symptoms of withdrawal when separated from the chemical or thrill they desire.”
Mississippi also currently appears to be the No. 1 legal daily fantasy sports market in the US, although the state is still in the minority by not having launched a state lottery. Commenting on the issue, House Speaker Philip Gunn, R-Clinton stated:
“I don’t think it’s the golden egg everyone thinks that it is.”