The Casinos in Biloxi Just Posted Record-Breaking Revenue Figures

Mississippi State Seal Biloxi Casinos

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.

$48M in Building Permits Filed For Repair of Gulf Coast Casinos

Poker Chip and Roulette and Casino Card Background
A recently published report revealed the severity of the damage caused by Hurricane Zeta to Biloxi casinos.

The city of Biloxi has issued several permits to repair the damages caused by the October storm. These repairs include exterior damages to buildings, electrical and plumbing systems, and damages to parking garages that were flooded during the storm.

Most of the casinos in the area were closed during the storm. Some were closed for several days until power was restored. The casinos have since reopened but some have been undergoing repair while continuing to serve their patrons.

Damage in the Gulf Coast

Mississippi has a total of 26 casinos and 12 of these are in the Gulf Coast, including eight in Biloxi. Of the eight Biloxi casinos, four have contracted the Mississippi based Yates Construction to do fix damages caused by Hurricane Zeta.

According to the Biloxi Sun Herald, Yates has filed building permits totalling $48M to repair damages suffered by the said Biloxi casinos. The permits were issued for repairs to Beau Rivage Casino and Resort ($20M), Hard Rock Hotel and Casino ($20M), IP Resort Casino and Spa ($5M), and Harrah’s Gulf Coast Hotel and Casino ($3M).

Record Breaking Hurricane Season

Hurricane Zeta landed in the early morning of October 28 South of New Orleans, near Cocodrie, Louisiana. With winds stronger than 100 mph, the storm battered the Crescent City, killing six people before moving east to Mississippi and beyond. Zeta was one of the five storms to hit Louisiana during this year’s hurricane season. It caused significant damage to the four casino mentioned earlier.

The 2020 Atlantic Hurricane season has produced 30 named hurricanes so far and is one for the record books. Storms Ion, Delta, and Eta had winds that intensified by 100 mph in three or fewer hours. According to experts, that has happened only once in the last 169 years. The hurricane season ends on November 30 but that doesn’t mean that there won’t be any major storms after that.

Sports Betting Revenue in Mississippi Surges in September

Mississippi is one of the 19 US states with an active sports betting market. This industry is proving to be massively successful here, particularly with the help of the NFL’s 2019/2020 season. New reports indicate that sports betting revenue in Mississippi surged during the month of September.

Hundred Dollar Bills Laid Out

It’s great news for betting operators here. Mississippi has always been thought of as a US casino hub and is now beginning to gain a reputation as a major sports betting destination. Let’s look at exactly how much sports betting companies managed to bring in last month.

Mississippi’s Gambling Market Continues to Expand

For centuries, all forms of gambling were banned in Mississippi. The state took this matter seriously, issuing harsh punishments to anyone caught playing inside an illegal gambling house. In 1990, lawmakers here decided to make a change.

State politicians decided to legalize traditional casino gambling. Within just a few years, several land-based and riverboat casinos began operating here. Today, there are a huge number of land-based gambling venues, most of which are very successful.

It’s clear that lawmakers wanted to bring in more revenue from the gambling industry. In 2018, shortly after PASPA was removed, Mississippi officially approved sports betting. Two MGM Resorts-owned casinos took the state’s first sports wagers in August of that year.

Since this time, almost all casinos in this state have begun offering sports gambling options. Many of these casinos are earning millions in additional revenue from this industry.

September was a massively successful month for sports betting operators in this state. Here’s how much money was brought in.

September Brings an Increase in Sports Betting Revenue in Mississippi

This state continues to rack in money from its sports betting market. New reports indicate that that September was one of the biggest months of the year in terms of revenue. There are clearly a huge number of passionate sports fans here.

The state’s Gambling Commission claims that sports betting revenue in Mississippi increased by 19.2% year-on-year to $37.9 million. The state itself took in $5.6 million in tax earnings. Interestingly, most of the year-on-year growth came from the state’s central region.

Handle from this region increased by 75.6% in this area compared to the same month last year. The state earned $780,798 in taxes from this region, with bookmakers recording a 15.29% win rate.

Unsurprisingly, the Coastal region contributed the most to sports betting revenue in Mississippi last month. This area brought in $25.4 million, representing a 14.7% increase from the same month last year.

This industry is showing no signs of slowing down. Last month, casinos in this state brought in massive revenue earnings, as well.

Soon, Mississippi could have one of the most lucrative sports gambling markets in the country. The rise in sports betting revenue could push other nearby states to legalize and regulate this market, as well.

Nearby States Considering Sports Betting Legalization

As of today, 19 states have legalized sports gambling. Many more have pending legislation to open their sports gambling markets. Several states in near proximity to Mississippi are currently considering allowing this form of gambling.

Several already have, too. Lawmakers in both Tennessee and North Carolina have both recently passed sports gambling legislation bills. The “Tennessee Sports Gambling Act” became legal on May 25th of this year. On July 26th North Carolina approved a bill that “allows sports and horse race wagering on tribal lands.”

Several other nearby states are working to legalize sports betting. Politicians in Louisiana and Alabama have both recently presented sports betting bills. Unfortunately, none of them have been approved during their state legislative sessions.

In time, it’s likely that almost every US state will allow sports betting. It’s a massively profitable industry that’s popular with individuals across the country.

Sports betting revenue in Mississippi continues to increase. We’ll need to wait and see whether or not October brings even better results.

Stay tuned for more US sports betting news over the next few months!