Isaac hurt Coast casinos, boosted locally
Published 11:10 am Wednesday, September 26, 2012
JACKSON — Hurricane Isaac’s drenching rains dampened August casino revenues in Mississippi, but Vicksburg’s four casinos showed an increase during the same period.
Statewide casino revenues fell 3.4 percent from last year, to $178.4 million, according to Mississippi Department of Revenue figures.
Vicksburg’s total tax revenue totaled about $687,455 for August, about 48 percent, or $219,690, more than August 2011.
“It would seem that most of the people who were gambling at the Coast casinos came here to play,” city accountant Doug Whittington said.
In August, the 12 Coast casinos — all forced to close as Hurricane Isaac made landfall on Aug. 29 — won a total of $86.3 million from gamblers, down 5.1 percent from the $90.9 million they won in August 2011. Coast casinos were closed from Aug. 28 until the evening of Aug. 29 or Aug. 30.
The 17 river casinos from Tunica to Natchez won $92.1 million, down 2 percent from the $93.8 million they won in August of last year.
The numbers exclude Choctaw Indian casinos, which aren’t required to report winnings to the state.
Overall, the August collections put the City of Vicksburg’s casino revenue total over budget for fiscal 2012 with about $6.03 million, about 2.6 percent more than 2011’s $5.9 million with September collections remaining.
According to statistics from Warren County, the county’s revenue from casino taxes totaled $287,564, about 24 percent, or $57,437 more than the $230,127 it received in August 2011.
Vicksburg receives extra revenue from a $150 tax on each casino gaming device used by the casinos, and gets a share of a .8 percent state tax on gross casino revenues.
Mississippi’s Gulf Coast casinos won more money from gamblers in July than in any month since August 2008. The dip in August 2012 put them back into negative territory, down 1 percent for the last 12 months. But considering that Isaac’s approach and aftermath influenced the last week of the month, only a 5 percent decrease from the year-earlier period may actually be a good outcome.
“I know we missed some days,” said Allen Godfrey, executive director of the Mississippi Gaming Commission. “You probably are looking at that Saturday and Sunday before, we lost some revenue because people didn’t come.”
Because of the recovery from the 2011 floods, the Mississippi River casinos have won 2 percent more money from gamblers in the most recent 12 months than in the preceding year. The state as a whole has seen revenue increase by less than 1 percent in the most recent 12 months.
Next door, Louisiana’s state-licensed casinos took in $188 million from gamblers in August, winnings that were on par with a year earlier but a 5 percent drop from July.