Mississippi Casino Revenue Slips In September
September was a month that many states looked to with the hope that casino revenue may finally turn around. Mississippi, however, became the latest state to announce that revenue declined in September from the same period a year before.
Last year at this time, the recession was in full swing and the economy in the US was crashing. It was the middle months of what has been one of the worst economic meltdowns in US history. The casino industry was ravaged by the economy and had revenue declines in nearly every state.
That would have made it easier for casinos across the country to improve their revenue this year, but so far it has not happened. In Mississippi, casino revenue was down 2.8% compared to September of 2009. The total revenue was $186.6 million, compared to $192.2 million the year before.
"The casino industry is slowly recovering and figures are starting to look better than they were in the early part of the year," said Gaming Analyst Steve Schwartz, "But it still is going to take some time to fully recover. Casinos may not see revenue increases again until early next year."
While Mississippi casino revenue was down in September, it was hardly as bad as it has been in other areas of the country where casino gambling is prevalent. Atlantic City has experienced double digit revenue decline for many months in a row.
One area of the world where casino gambling is still thriving is Macau. The new gambling capital of the world has posted some gaudy numbers in the past few months, and their third quarter revenue figures far exceeded expectations.
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