Mississippi On line casino Income Highest Since 2008, Win Almost $2.7B
Mississippi on line casino income final yr totaled $2.669 billion, the state gaming business’s highest haul in additional than a decade.
The Beau Rivage performed a big position in Mississippi on line casino income hitting its greatest mark since 2008. Gross gaming income in 2021 totaled $2.66 billion. (Picture: TheKnot)
Mississippi is residence to 26 casinos. These properties in 2021 generated extra gross gaming income (GGR) than they’d since 2008.
Regardless of the pandemic nonetheless interrupting each day life all through a lot of final yr, the state’s casinos noticed play at ranges not seen since earlier than the Nice Recession.
The gaming business is a particularly necessary a part of our state’s financial system,” mentioned Massachusetts State Gaming Fee Govt Director Jay McDaniel. “We estimate that greater than 20 million guests got here to the state’s casinos final yr, with greater than 50% of these from exterior the state.”
Together with using 13,700 individuals, the Mississippi casinos delivered substantial tax income to the state. Mississippi imposes a graduated tax on gaming income that’s depending on every on line casino’s complete win.
In 2021, the state collected roughly $311.5 million from land-based gaming.
Business Helps COVID Restoration
State financial leaders in Mississippi say the significance of on line casino playing within the Magnolia State shined final yr because the state launched into financial restoration from COVID-19.
“Mississippi’s gaming business continues to function a catalyst for driving the state’s financial system and creating avenues for reinforcing tourism. Whereas COVID-19 introduced unexpected challenges, it was a possibility to double down and exhibit the business’s worth in offering significant careers, rising tax income, and in being a fascinating vacation spot for vacationers,” mentioned Scott Waller, president and CEO of the Mississippi Financial Council.
The Gulf Coast is the place the majority of the Mississippi on line casino income was incurred final yr. Coastal casinos reported a GGR of $1.6 billion in 2021 — or about 60% of your complete win. The Gulf Coast casinos simply eclipsed their earlier yearly file of $1.3 billion, set solely in 2019.
Northern casinos received $696.1 million, and Central casinos have been chargeable for the remaining $364.5 million in 2021 GGR.
2022 Slowdown
2021 was the very best yr for Mississippi casinos since 2018. However 2022 is exhibiting indicators of a slowdown. Document inflation has induced a lot unrest in US markets and is prone to ease the pandemic pent-up demand for journey and leisure.
By way of six months, GGR totals $1.318 billion. By way of the primary six months of 2021, on line casino win totaled $1.369 billion — about 4% larger.
The Mississippi Tourism Affiliation stories {that a} current ballot discovered that summer time vacationers say inflation is impacting their planning selections. However solely 7% are going so far as to cancel their holidays.
Go to Mississippi Director of Tourism Craig Ray believes excessive costs may really profit the state. Ray mentioned that Mississippians are nonetheless taking their summer time holidays. However some are opting to remain nearer to residence.
[Some people are] simply going to maintain it right here in Mississippi, and possibly not journey as lengthy… So, you’re simply seeing the traveler modify their schedule a bit and their territory the place they really feel comfy touring,” Ray defined.
One phase that hasn’t returned is worldwide journey. About 185,000 foreigners visited Mississippi in 2019, Ray mentioned.
“If you’re taking 185,000 individuals out of your market, staying right here for one to 2 weeks at a time and spending nearly $200 million, we miss that,” Ray mentioned.
