{"id":274294,"date":"2023-05-19T16:24:20","date_gmt":"2023-05-19T21:24:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=274294"},"modified":"2023-05-22T12:29:27","modified_gmt":"2023-05-22T17:29:27","slug":"mississippi-hits-3b-in-gaming-revenue-for-first-time","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mississippi-hits-3b-in-gaming-revenue-for-first-time\/","title":{"rendered":"Mississippi Hits $3B in Gaming Revenue for First Time"},"content":{"rendered":"

Some 30 years after the first casino debuted in Mississippi and helped the state earn $122 million in annual gaming revenue, that amount has increased nearly 30-fold.<\/p>\n

\"Isle
The Isle of Capri, Biloxi, Mississippi’s first casino, shows the damage it suffered after a direct hit from Hurricane Katrina in 2005. (Image: Quad City Times<\/em>)<\/figcaption><\/figure>\n

The total was $3.3 billion. Larry Gregory, director of the state\u2019s gaming and hospitality association, made the announcement on Wednesday at a meeting of the Vicksburg-Warren Chamber of Commerce.<\/p>\n

That\u2019s huge,\u201d<\/strong> Gregory said, as reported by the Vicksburg Post.<\/em> Gregory clarified that gross gaming revenue totaled $2.5 billion, while $800 million was nongaming, which he called \u201cjust as important \u2014 the hotels and the food and all the other things that our industry provides statewide.\u201d<\/strong><\/p><\/blockquote>\n

In 2021, the last year covered by available statistics, only three states topped $3 billion in gaming revenue: New Jersey ($4.7B), Pennsylvania ($4.8B), and Nevada ($13.4B).<\/p>\n

Mississippi earned slightly less than $2.7 billion that year and found itself beaten by New York and Indiana, both of which earned slightly more than $2.7 billion. In 2022, Indiana earned $2.4 billion, and New York $1.6 billion.<\/p>\n

Mississippi is home to 26 casinos that employ 13,700 people.<\/p>\n

Mississippi Earning<\/b><\/h2>\n

Modern gaming in Mississippi launched in 1992 when the Isle of Capri Biloxi opened its first casino aboard the historic former Diamond Lady Riverboat, which had also launched gaming in Iowa<\/a> the year before.<\/p>\n

\n

Mississippi successfully patterned its gaming after Nevada\u2019s, offering a favorable tax rate: 8% for the state\u2019s general fund and 4% for the locals. The association with Nevada may have worked a little too<\/em> well.<\/p>\n<\/div>\n

\u201cBack when legalized gambling was being introduced, it was very difficult for people to accept gambling,\u201d Gregory said. \u201cThey just thought it was going to bring organized crime at the time.\u201d<\/p>\n

Since then, Gregory said, the gaming industry in Mississippi has proven itself to be a standup corporate citizen. \u201cWe\u2019ve done well in our communities, we\u2019re proud,\u201d he said.<\/strong><\/p>\n

And its tax rate is still the same as it was in 1993, Gregory said — 8% state and 4% local.<\/p>\n

Biggest Setback<\/b><\/h2>\n

After Hurricane Katrina devastated the Gulf Coast in 2005, Gregory told the Chamber of Commerce meeting, \u201cWe just didn\u2019t think we could come back.\u201d<\/p>\n

\n

When then-Gov. Haley Barbour sent officials to talk to casino executives about returning to the Coast after the storm, Gregory reported that each one said, “‘Yes, we’re committed, we’re coming back. However, we\u2019re not coming back to the same set of circumstances, which is on water. Y\u2019all are going to have to change that law.’\u201d<\/p>\n<\/div>\n

So, the state changed its gaming laws to allow landside casinos.<\/p>\n

\u201cI think it saved the Coast,\u201d Gregory said. \u201cEverything came back bigger and better for what it was.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Some 30 years after the first casino debuted in Mississippi and helped the state earn $122 million in annual gaming revenue, that amount has increased nearly 30-fold. The total was $3.3 billion. Larry Gregory, director of the state\u2019s gaming and hospitality association, made the announcement on Wednesday at a meeting of the Vicksburg-Warren Chamber of […]<\/p>\n","protected":false},"author":78,"featured_media":274295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810,84799],"tags":[86404,83367,83480,84148,83482,82122],"acf":[],"yoast_head":"\nMississippi Hits $3B in Gaming Revenue for First Time - Casino.org<\/title>\n<meta name=\"description\" content=\"Some 30 years after the first casino debuted in Mississippi and helped the state earn $122 million in annual gaming revenue, that amount has increased\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/mississippi-hits-3b-in-gaming-revenue-for-first-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mississippi Hits $3B in Gaming Revenue for First Time - 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