The Mississippi Gaming Commission (MGC) recently reported a positive trend in casino revenue for the state, with a year-on-year increase. In April, the state’s 28 casinos collectively generated $211.2 million in revenue, showing a notable growth of 2.4% compared to the same month in the previous year.
Casino Revenue Breakdown:
The revenue boost was primarily attributed to the coastal and central region casinos, which contributed $131.2 million to the overall figure. Northern casinos followed with $49.5 million in revenue, while central casinos reported $30.5 million. This breakdown reflects the distribution of economic activity within the state’s gaming industry.
Sports Betting Activity:
While the casino sector saw positive growth, Mississippi’s sports betting handle exhibited a different trend. In April, the total sports betting handle was $31.8 million, marking a 10.4% decline from the previous year when it was at $35.5 million. Furthermore, it experienced a more significant drop of 31.9% from March 2023 when it reached $46.7 million.
Revenue from sports betting in April amounted to $4.3 million, showcasing a slight increase from the previous year’s $4.2 million. However, it was down by 14% from March 2023 when it stood at $5 million.
Regional Variation in Sports Betting:
The distribution of sports betting revenue across different regions of Mississippi is noteworthy. Coastal casinos reported $2.5 million in revenue from a total handle of $19.1 million. Central casino venues managed to generate $1.2 million in revenue from an $8.3 million handle. Meanwhile, northern casinos secured $603,430 from a total handle of $4.4 million. These statistics demonstrate the diverse appeal of sports betting within the state.
Popular Sports for Betting:
Basketball emerged as the favorite sport among Mississippi bettors, with a total of $13.5 million in bets. A significant portion, $7.9 million, was wagered at coastal casinos, underscoring the sport’s popularity in this region.
The Mississippi gaming industry has shown resilience and growth in its casino sector, as evidenced by the increase in revenue. However, the sports betting sector has faced some challenges, with declining handles and revenue. This balanced analysis provides insight into the dynamics of Mississippi’s gaming and betting landscape, highlighting the importance of regional preferences and the impact of specific sports on the market.