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Mississippi Casino Market place Down 2% to $2.08BN in 2017
January 24, 2018 11:57
Mississippi's casino industry suffered a two% income drop to $2.08 billion in 2017, with business down by close to $40 million in contrast to the preceding yr. Regardless of the unimpressive end result, the figures were slightly buoyed by a good ultimate month of the 12 months in which gamblers lost much more than $176 million, up by three% versus the $171 million collected in December of 2016.
The Magnolia State has the third-lowest casino tax rate across the complete country, and this was reflected in the sum of income funnelled into state coffers last year which amounted to close to $250 million. By way of comparison, Pennsylvania's casino market generated revenues of $three.22 billion in 2017, of which $one.33 billion was collected by way of tax revenues by the government.
When again, Mississippi's casino sector was a tale of two markets, with the state's twelve coastal casinos posting a roughly 1% revenue boost to $one.19 billion in 2017, and marking 4 consecutive many years of development for people casinos. In addition, the 12 months finished on a sturdy note with December's income rising by seven% to $99 million, representing the second-highest growth charge of the 12 months.
Meanwhile, Mississippi's 16 river casinos continued their losing streak with revenues falling by five% to $885 million for the 12 months. As a end result, the marketplace has now posted declining revenues for each and every 12 months but one particular because 2006, with Tunica County and Lula particularly impacted by the enhanced competitors coming from the two racinos located in Arkansas. On a somewhat more good note, the river casinos ended the 12 months with revenues declining by a less significant one. https://gumroad.com/8215822417831/p/merits-of-enjoying-on-the-internet-poker Source Link https://pbase.com/topics/pathregret7/baccarat_online_play_badv four% to $77 million in December.
Other information: Palm Seaside Kennel Club reopening FridayFinally, Mississippi is 1 of just six states with out a lottery sector, the others currently being Alabama, Alaska, Hawaii, Nevada and Utah. According to state economist Darrin Webb, Mississippi residents buy between $5-$10 million worth of lottery tickets from Arkansas each and every year, and close to $thirty million from Louisiana. Needless to say, some lawmakers have been eyeing the industry as a possible much-required money spinner for state coffers, and as Rep. Mark Baker said lately:
If that funds is going to go to educate young children and it is going to go to correct roads and bridges, then it ought to be in Mississippi. I am just becoming a realist about it."