Not including the period immediately after Hurricane Katrina in 2005, it was the worst month for the 11 Mississippi Gulf Coast casinos in over a decade. It was also their worst month since 1996, not including May and June, when the state’s 19 river casinos, most notably the Tunica casinos, were damaged by flooding.
Mississippi casinos won $165.8 million from gamblers in November, down almost 8 percent from $179.6 million in November of 2010.
“I don’t think there’s any hiding or glossing over the fact that 2011 has not been a good year for casinos,” said director of research for the Mississippi Gulf Coast Business Council Scott King. Casinos, particularly those along the coast, had been showing signs of recovery in late 2010 and early 2011, but the momentum has dissipated.
Mississippi’s casinos are on course for the fourth straight year of declining revenue since 2007’s all-time high of $2.89 billion. Though they are closely watched, gambling revenues are a small slice of the state’s over $4 billion in revenue.