Following the opening of Scarlet Pearl Casino in D’Iberville in December 2015, the South Mississippi casino market saw a significant increase in the overall revenue generated by the region’s 12 coast casinos in January. Proceeds from the venues amounted to more than $100 million for the very first time in eight years.
All 12 gambling venues generated a total of $100.5 million last month, up 15% or $13.2 million than the $87.3 million reported for the same month a year ago. Commenting on the results, Michael Bruffey, Deputy Director of the state’s gambling regulator – the Mississippi Gaming and Hospitality Association, said that the establishment of Scarlet Pearl Casino has obviously resulted in a growth in the local casino market rather than stealing revenue from the other facilities in the region.
Scarlet Pearl Casino is the first gambling venue to be built in D’Iberville and the first one to be established under Mississippi’s newest requirements for the construction of such properties. Under the said requirements, a casino complex must feature at least 300 hotel rooms and a certain amenity that will attract visitors to the state. In Scarlet Pearl Casino’s case, that amenity is a miniature golf course with an erupting volcano as its centerpiece.
According to a report compiled by the Mississippi Gaming and Hospitality Association, the South Mississippi casino industry is on a roll after reporting a 1.4% revenue increase in 2014 and a 6% one in 2015, although the number of visitors has been declining since Hurricane Katrina.
Mr. Bruffey, who was among the report’s editors, pointed out that the number of people visiting the region has dropped from 20.7 million in 2004 to a total of 14.6 million in 2015. The official also noted that usually, the launch of a new casino draws interest and results in more visitors coming to the region. The opening of Scarlet Pearl Casino last December indeed brought more people.
During the fourth quarter of 2015, the number of visitors in South Mississippi increased to 3.7 million compared to the 3.4 million reported for the same period of 2014. However, the posted figure was still well below the pre-Katrina count of 5.4 million people for the three months ended December 31, 2004.
Commenting on the increase in revenue, despite the drop in the number of people, Mr. Bruffey said that there might be fewer visitors but they tend to spend more and to stay longer at local casino complexes.
