Mississippi Hits $3B in Gaming Revenue for First Time

Thirty years after the number one casino debuted inward Mississippi River and helped the commonwealth garner $122 meg in yearly gaming revenue, that amount has increased nearly 30-fold.

The sum was $3.3 billion. Larry Gregory, director of the state’s gaming and hospitality association, made the proclamation on Wed at a group meeting of the Vicksburg-Warren Chamber of Commerce.

That’s huge,” Gregory XVI said, as reported past the Vicksburg Post. St. Gregory of Nazianzen clarified that 144 gaming revenue totaled $2.5 billion, while $800 zillion was nongaming, which he called “just as important — the hotels and the intellectual nourishment and all the other things that our manufacture provides statewide.”

In 2021, the last-place year covered by uncommitted statistics, only when triad states topped $3 1000000000 inwards gaming revenue: New island of Jersey ($4.7B), PA ($4.8B), and Battle Born State ($13.4B).

Mississippi earned somewhat to a lesser extent than $2.7 one million million that twelvemonth and found itself beaten past New House of York and Indiana, both of which earned somewhat more than $2.7 billion. In 2022, IN earned $2.4 billion, and New House of York $1.6 billion.

Mississippi is rest home to 26 casinos that employ 13,700 people.

Mississippi Earning

Modern gaming inwards MS launched in 1992 when the Isle of Capri Biloxi opened its world-class gambling casino aboard the historic former Diamond Lady Riverboat, which had also launched gaming inwards Iowa the yr before.

Mississippi successfully patterned its gaming after Nevada’s, offering a favorable task rate: 8% for the state’s full general fund and 4% for the locals. The connection with Battle Born State may have worked a little too well.

“Back when legalized play was existence introduced, it was very difficult for people to have gambling,” Gregory XII said. “They just thought it was sledding to work organised law-breaking at the time.”

Since then, Gregory of Nazianzen said, the gaming industry inward Mississippi has proven itself to follow a standup collective citizen. “We’ve through substantially inward our communities, we’re proud,” he said.

And its taxation grade is allay the same as it was inwards 1993, Gregory said — 8% body politic and 4% local.

Biggest Setback

After Hurricane Katrina devastated the Gulf Coast inwards 2005, Gregory XVI told the chamber of commercialism meeting, “We just now didn’t think we could come up back.”

When then-Gov. Alex Haley Barbour sent officials to talking to gambling casino executives around returning to the Coast after the storm, Saint Gregory I reported that from each one I said, “‘Yes, we’re committed, we’re coming back. However, we’re non coming backwards to the same go down of circumstances, which is on water. Y’all are going to feature to alteration that law.’”

So, the body politic changed its gaming laws to reserve landside casinos.

“I guess it saved the Coast,” Gregory Nazianzen said. “Everything came rearward larger and meliorate for what it was.”

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