Coastal casinos in Mississippi have posted second-highest monthly revenue in March, only after July 2007. The revenues for the 12 coastal casinos was up 13 percent to 124 million.
The increase in revenues is largely attributed to March Madness, NCCA’s college-level basketball tournament, which saw record betting across the country.
In what seems like sports betting is boosting revenues at Mississippi casinos, casinos in other parts of the state have also registered moderate growth.
Overall, licensed operators in Mississippi generated $8.4 million in sports betting revenues. While bettors lost $212 million in March this year for the previous year, it was $201 million for the same period.
Jay McDaniel, deputy director of the Mississippi Gaming Commission, has attributed the revenue increase to March Madness. While the gaming commission is yet to come with a precise estimate, it is clear that sports betting has driven the revenues at least for March.
Though customer spending on other facilities at the gambling venues has not been taken into account, it may have contributed towards the performance.
Following the US Supreme Court’s orders last year, Mississippi had legalized sports betting along with other US states.
Mississippi casinos are also facing competition from gambling expansion in the neighboring states. Earlier, Arkansas legalized casino operations at two of its racinos and experts say that it could have had an impact on the gambling revenues in Mississippi.