Mississippi casinos dread August families stay home, kids go back to school, and the roulette wheels spin less and less. However, 2018 saw a surprising reversal of this tradition. Casino revenue increased from July to August for the first time ever in Mississippi when sports betting first became legal.
The total casino gross revenue in August was $181 million - a sharp increase from a year earlier when it was $168 million and coincidentally the first month when sports betting was legal. Prior years saw a large drop from July to August:
2017: -$20 million
2016: -$18 million
2015: -$17 million
2014: -$5 million
2013: -$12 million
2012: -$26 million
2011: -$20 million
2010: -$11 million
2009: -$28 million
2008: -$21 million
This is the first time that casino revenues have increased from July to August. The average decrease from July to August for the last ten years has been $18 million. However, the casinos enjoyed a $27 million swing in the other direction last month.
September will be the first month sports betting will be legal in Mississippi during football season.
8 comments:
Wow. I guess now legalized sports gambling is going to be the liquor of the fool.
Probably much more related to the DOR 'accounting' - they have an uncanny ability to move revenues in and out of months/quarters, depending on the politics (small "p") of the times. Need to show good revenue, slide some next month into today; need to show needs; delay opening some envelopes or entering some data. Generally only takes a day or two of 'ajustments' It increased by $13 million in a month, with average daily income of $6 million? That's only two days worth of September slid into August. But damn what it shows to the legislature as to the benefits of sports betting.
It would be greater if we could bet statewide on our phones. Until then, most will just opt to continuing using an offshore gambling app/ website.
@3:46 - I can bet nationwide on my phone, I just call my bookie!
Most casinos are making their money on crab claws anyway. All these people who sit for hours at the penny and quarter slots are spending a running ton on crab claws. It's a cultural thang.
I like my Claws they let you eat as much as you spend too.
We are beginning to rue the day that our legislature voted to approve 'riverboat gambling'. We thought that sounded so romantic. A chance to dress up, take a riverboat out into the gulf (or out from Natchez), have a fine, elaborate dinner with cocktails and play an hour of poker before docking. We would all be back on verandas, in white silk jackets, sipping on fine whiskey if only for a brief while. How romantic that seemed. Now we are circling the shit bowl. Vicksburg is ruined. Greenville is no better off. Tunica is one giant whore-house. Half the rednecks in Leake and Scott Counties have hocked their bass boats.
@ Roll Them Bones
You're just a big ol' bag of sunshine, huh? Its safe to assume you've never been to Vegas and if you have you were probably walking up the strip with a bible in your hand and wagging your fingers telling people they were going to hell!!!
Post a Comment