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Decrease by 2% of casino revenue in June - Mississippi
The Mississippi Gaming Commission have just reported the figures in June of the State casinos. Their revenue was down of 2% on a year, from $ 176.1 million in June 2014 to 172,800,000 in June 2015. The 11 coastal casinos have decreased by $ 3 million on income 95.5 million in June 2014 while the decline in the income of the 17 casinos along the Mississippi River is lower with only a loss of $ 260,145 in one year. The revenues for the first five months of 2015 remained at the level of the same period of last year, but remains alarming as the figures for the first five months of 2014 are the lowest on record since 1997.
If the casino industry peaked in 2007 with $ 2.89 billion of revenue, the figures are no longer stopped tumbling to $ 2.07 billion in 2014, against 2.136 billion in 2013 and 2.251 billion in 2012. Within a decade, the Mississippi casino industry was in continual decline from the third to the sixth largest country market. Several reasons are behind this decline, including economic conditions in the United States, increased competition from neighboring States and the absence of State aid to support the activity. According to the President of the House Gaming Committee, Richard Bennett, gambling industry is not treated in the same way as other industries in the State. Some measures such as tax relief is required, for example in times of crisis to support it.
Source: James WILLIAMS
Wednesday, 29 July 2015
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