River casinos log a drop in monthly revenue

Published 11:39 am Wednesday, November 23, 2011

A 9 percent decline in winnings at 19 casinos on the Mississippi River in October contributed to a 5 percent drop statewide compared to this time last year.

Gross revenue for October was $94 million, down from $103.5 million in October 2010, according to a monthly report released Tuesday by the Mississippi Department of Revenue.

Total revenue for Mississippi’s 30 casinos declined by 5 percent to $182.2 million in October compared to 2010.

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Casinos on the Gulf Coast balanced the state’s gaming outlook for the month, winning $88.2 million, up from $88.1 million last October. South Mississippi casinos have topped 2010 levels six times this year. River casinos topped a prior-year mark once, in July.

Revenue-based taxes paid by the state’s gaming venues totaled $24.4 million in October, up by $3 million from September and up from $20.8 million from October 2010.

Money paid by Vicksburg’s five casinos to local government and public schools rose in September compared to 2010, the latest figures from the City of Vicksburg show. The city’s take was $467,269, up 9 percent, while Warren County collected $229,349, up 12 percent. Combined revenue was down 4.5 percent for the fiscal year. Casinos here pay a 3.2 percent tax to the state, divided three ways — 65 percent to the city, 25 percent to the county and 10 percent to public schools.