As Biloxi celebrates 25 years of casinos this week, Vincent Creel, the city’s public affairs director, compiled the amount of taxes on gross casino revenue paid to the city, county and state by Biloxi casinos since the Isle of Capri opened Aug. 1, 1992.
Creel said the new revenue stream from gross casino revenue funded hundreds of millions in new public facilities, including a new public safety center, three new fire stations, recreation centers and ball fields. The revenue also paid for more police officers and firefighters and enhanced city services while cutting the tax rate in half, he said.
Biloxi hadn’t built a new school in 32 years when the casinos opened and the new casino taxes helped build a $35 million high school and three elementary schools and equip the schools with computers.
“Nobody imagined the real impact and the impact that was to come over the next 25 years,” Mayor Andrew “FoFo” Gilich said. “It’s bigger than anyone ever imagined, and by the same token, I believe that the next 25 years are going to be even bigger than we can imagine.”
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Biloxi’s casinos — now eight of them with IP Casino, Boomtown, Palace, Golden Nugget, Harrah’s Gulf Coast, Hard Rock, Beau Rivage and Treasure Bay — have paid $2.2 billion in taxes on gross casino revenue to the state and local governments and schools since 1992, in addition to property taxes, sales tax, wage taxes and use taxes.
Biloxi casinos by the numbers
Over 25 years from August 1992 to June 2017, the Biloxi casinos alone paid $604 million in casino taxes to Biloxi and Harrison County and $177 million to Biloxi and Harrison County schools.
$18.5 billion: Total gross casino revenue
$2.2 billion: Total taxes paid on casino revenue
$1.5 billion: State’s share of taxes paid
$435 million: Taxes paid to Biloxi
$118 million: Taxes paid to Biloxi schools
$169 million: Taxes paid to Harrison County
$59 million: Taxes paid to Harrison County Schools
City of Biloxi