The Mississippi Revenue Department has posted information about the revenue generated at the state’s casinos, both land-based and riverboat ones, in May. Results differed significantly between the state’s gambling markets.
Overall revenue from Mississippi’s gambling venues amounted to $177 million last month, down 4% as compared to the amount of $185 million posted for the same month of the previous year. The decrease was mainly attributed to the fact that revenue from Mississippi’s riverboat casinos plunged more than 14% year-on-year.
There are sixteen casinos to be floating on Mississippi River. Those generated the amount of $73 million in May. The amount of $85 million was posted for the same month a year ago. The considerable drop in revenue came after analysts had expressed hopes that the market would eventually stabilize.
As for the twelve land-based casinos within the state’s borders, they generated a total of $104 million in May, reflecting a 4% increase from the $100 million reported for the same month of the previous year.
Revenue from Mississippi’s land-based casinos increased for the fourth time within this year’s first five months. It is also important to note that this has been the most profitable May for the local gambling venues since 2008, when they hit $107 million. According to the figures posted by the state Revenue Department, year-to-date results from land-based gambling facilities are $26 million ahead as compared to the figures posted for the same reviewed period of 2015.
There were as many as eleven land-based casinos in Mississippi this time last year. However, late in December, D’Iberville saw its long-awaited first-ever gambling venue open doors. Featuring a number of gambling options and other state-of-the-art amenities the hotel and casino resort attracted quite a lot of attention and quite expectedly contributed a lot to the increase in revenue registered over the past several months.
The $290-million luxury Scarlet Pearl complex has a 68,000-square-foot casino with 1,300 gaming machines, 300 hotel rooms, an events center, numerous entertainment and food and beverage options, and a 36-hole mini-golf course with a specially designed erupting volcano at its center. First plans about the hotel and casino resort emerged back in the 1990s.
