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Sharp increase in Mississippi casino revenue in August thanks to sports betting

Overall casino revenue rose sharply in Mississippi in August with the start of sports betting in the state.

State revenue department figure released thursday show gamblers lost $181 million statewide in august, up 8 percent from $168 million In August 2017.

Only $645,000 of the amount, lost was on sports wager, though with $7.7 million in best placed in the first month of sports wagering in Mississippi.

Casino executives and regulators hope the lure of sports betting will mean more money lost on other Casino games and more gamblers staying in casino hostels and eating in restaurants. After September is over, Mississippi gaming commission Deputy Director Jay McDaniel said the commission plans analyze whether sports betting is creating increases in other revenue, and by how much.

McDaniel said that though Sept 19, bettors wagered $17.8 million, suggesting the total will be between $25 million and $30 million for the month. Over the long term, Jacobs said officials expect casinos to win 6 percent to 7 percent of what Is wagered.

A May U.S. Supreme Court decision allowed states nationwide to join Nevada in legalizing sport betting.

The Strong month tipped Mississippi’s Casino revenue into positive territory for the past 12 months, leaving the state with a gain of less than 1 percent.

Number exclude Choctaw Indian casinos, which don’t report  winnings to the state.

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Caleb Jose

Caleb Jose

Caleb is based out of Kansas City and he is responsible for overseeing day-today processes of Casino Buzz. He takes care of the backend technology, along with being the main data collector and reporter for Casino Buzz. He can be reached out at cj@casino.buzz

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