Mississippi is home to one of the largest casino industries in the Southern United States. Many of the state’s casinos are based in Biloxi. New reports have surfaced this week showing that the casinos in Biloxi posted record-breaking revenue figures over the past fiscal year.
This proves how successful the US casino industry has been throughout 2021. The casino companies in Mississippi have to be pleased to see the progress being made.
Here’s what we know about this situation.
Revenue Reports on the Casinos in Biloxi Have Just Surfaced
Many states in the Southern US are known for their harsh anti-gambling laws. That is certainly not the case in Mississippi, though. This state is known as one of the country’s true gambling hubs and is home to a huge number of popular gambling venues.
Biloxi, Mississippi, is currently home to eight major casinos. These properties have been known to draw in a huge number of gambling fans from nearby states. This week, the casinos in Biloxi officially released their revenue reports for the past fiscal year.
Incredibly, these properties revealed that they posted $1.02 billion in gross gaming revenue over the past twelve months. That marks just the second time in history that these casinos passed the $1 billion in revenue mark. This past April proved to be the most successful month for these casinos, as they brought in $111 million in GGR.
Most of the casinos in Mississippi have seen impressive revenue gains over the last fiscal year. It’s reasonable to assume that 2022 will be an even more impressive year for the state’s industry. We’ll be sure to offer more updates on the casino revenue figures here as the months go on.
Mississippi was one of the first states to truly embrace the sports betting industry. Here’s a look at how the sportsbooks in this state have been faring lately.
Mississippi’s Sports Betting Revenue Likely Surged in October
As many are aware, Mississippi has one of the largest sporting fan bases in the United States. That is a little surprising, as there are no professional sports teams based here. Several popular college sporting programs are up and running, however, and neighboring states are home to successful NFL, MLB, and NBA franchises.
Back in August of 2018, Mississippi’s first regulated sportsbooks went live. The sports betting operators here have seen mostly consistent rises in revenue since that time. Through July and August, however, Mississippi’s sports betting revenue saw large dips.
The state reported just $2.9 million in sports gambling GGR over the month of July. The state’s handle also saw a drop to just $30.7 million.
August also proved to be a difficult month for Mississippi’s sports betting industry. It was this month that the sports betting companies managed to bring in just $1.8 million in total gross gaming revenue. The state’s sports betting handle also dropped considerably to just $21.4 million.
For now, Mississippi is one of the few states in the Southern US with a large sports gambling industry. That may change in the near future. Here’s a look at some of the other states in this region that could launch sportsbooks soon.
More Southern States Look Toward the Legalization of Sports Betting
Just a few years ago, only Nevada was legally able to offer sports betting options. That all changed when PASPA was removed in May of 2018. This decision immediately gave every state around the country the ability to legalize and regulate this form of gambling.
Today, more than half the country now has at least some form of regulated sports betting available. That includes a few states in the Southern US. Several more states in this region have recently begun showing an interest in legalizing sports betting.
Georgia is one such state that appears interested in doing so. That is a shock when considering this is one of the most anti-gambling states in the country. Certain lawmakers are now pointing toward the demand and large potential for tax revenue to fund various social programs.
Oklahoma is another state that is looking more at legalizing sports betting. Governor Stitt has been working to come up with specific agreements with various tribal groups. Many are hopeful to see sports betting become available here in 2022.
Stay tuned for more information on legalizing sports betting as time goes on.
The casinos in Biloxi continue to see impressive revenue gains. How do you think the casinos here will fare in 2022? Let us know in the comments section below.