BUSINESS

Mississippi gambling revenues fall in September

TAGs: Business, casinos, gambling, mississippi, revenue

mississippi gamblingThe state of Mississippi’s overall statewide gambling revenue of $177.9 million for September 2012 is down 4.3% from their previous figures in the same time back in 2011. Responsible for dragging down that number are the 17 river casinos running in locations from Tunica to Natchez, all of whom reported a total revenue of $91.2 million, a full 10% drop from the numbers they win – $101.6 million – in the same time last year.

It could’ve been worse too if the state’s 12 coastal casinos also netted smaller revenues. Fortunately, these establishments generated a total of $86.7 million in revenue for the state, an improvement of 2.8% from the $84.3 million in revenue they won back in September. Despite the marked improvements in revenue from the 12 coastal casinos, the relatively significant drop in revenue from the 17 river casinos resulted in the state seeing its revenue figures from September 2012 fall from the numbers they posted in September 2011.

While the revenues are still modest, to say the least, the state is showing optimism of rebounding in 2013 when its newest gambling establishment, the Magnolia Bluffs Casino in Nanchez will already be in operation. The casino is scheduled to open its doors on December 21. More than just being a brand-spankin’ new tourist destination, the Magnolia Bluffs Casino will be offering a bevy of gambling options, includingĀ  601 slot machines, 12 table games, and 20 poker games, among others.

But for now, casinos in the state are bracing themselves for a a stretch of lean months brought about by the autumn season. Some have even taken the steps to drop some employees, including the Fitz Casino & Hotel Tunica, who according to the Associated Press, laid off an number of employees because of the “soft economy, seasonal fluctuations and increased competition”.

The Margaritaville Casino & Restaurant in Biloxi, Mississippi also trimmed its staff by dropping 50 full-time and 150 part-time employees for reasons stated as slimming down their staff due to the end of the traditionally hectic summer tourist season.

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