June is a big winner for Coast casinos

July 22, 2014
By Mary Perez at Sun Herald

BILOXI, MS- Coast casinos had their best June since 2008, the The Mississippi Department of Revenue reported Tuesday.

After Monday's announcement of the closing of Margaritaville Casino in Biloxi, this report shows continued strength in the Gulf Coast market, said Allen Godfrey, executive director of the Mississippi Gaming Commission.

"It's still a strong and viable gaming market," he said. Operators continue to invest and reinvest in casino properties in South Mississippi, which he said demonstrates the interest in the local industry.

Revenues at the 12 casinos were $95.7 million in June -- a resounding $11 million more than the $84.7 million reported for June 2013 and a 13 percent increase.

That puts Mississippi's Gulf Coast casino revenue for the first six months at $540 million. That is $1.5 million ahead of where they were for the first half of 2013 and on pace to break again break $1 billion for the year.

Competition continues to affect river casinos, where June revenue dropped to $78.7 million from $89.1 million a year ago, a 12 percent decrease.

Because of the strong performance on the Coast total casino revenue in Mississippi was $649,000 higher than a year ago, an increase of four-tenths of a percent, and the first year-over-year increase for 2014.

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