Mississippi Casino Revenue Rebounds to $200 Million in June

Mississippi’s casino industry has bounced back strongly after a dip in April, achieving consecutive months with over $200 million in revenue. This recovery highlights the resilience and popularity of the state’s gaming sector, despite ongoing challenges in expanding to online platforms.

In April 2024, Mississippi casinos experienced a significant drop in revenue, bringing in only $192 million. However, May and June marked a robust recovery, with June’s revenue reaching $202.1 million. Although this figure is slightly down from May's $209.6 million, it represents a notable improvement over April’s numbers and an annual increase from June 2023's $198.2 million.

Mississippi’s three gaming regions – Central, Coastal, and North – contributed to June's total revenue of $202.1 million. Here’s the regional breakdown:

• Central: $26.1 million
• Coastal: $131.8 million
• Northern: $44.1 million

Mississippi

MS Online Casinos

MS Sports Betting

Gambling Laws

MS Online Poker

MS Land Casinos

33 Casinos

All Casinos

Despite a 3.6% month-on-month decrease, the revenue reflects a 1.95% increase compared to the same period last year. This trend underscores the steady demand for gaming in the state, even amid minor monthly fluctuations.

While physical casinos continue to thrive, the prospect of legalizing online casinos in Mississippi remains distant. The state has not yet embraced online gaming, and the regional environment is generally unfavorable for such a shift. No Southern state below the Mason-Dixon Line, apart from West Virginia, has legalized online casinos.

However, the potential financial benefits of online casinos are significant. Estimates suggest that Mississippi could generate at least $50 million monthly from online gaming, potentially making it the fourth-largest market in the country. Taxing this revenue at 15% could bring in approximately $7.5 million monthly, a compelling argument for lawmakers considering the state's financial future.

“Mississippi casinos achieved over $200 million in revenue for two consecutive months, highlighting the sector's resilience despite seasonal fluctuations.”

Mississippi’s gaming revenue has shown a declining trend since 2021, contrasting with the broader national recovery. Annual revenues have fallen from $2.67 billion in 2021 to $2.57 billion in 2022, and $2.48 billion in 2023. If current trends continue, 2024 is expected to close at around $2.45 billion, reflecting ongoing challenges in the post-pandemic market.

Year-to-date, casinos have generated $1.23 billion, slightly below the $1.25 billion recorded by June 2023. This performance indicates a need for strategic adjustments and potential exploration of new revenue streams, such as online gaming, to sustain and boost the industry’s growth.

Conclusion