Casino Gambling

Coast casino revenue is flat but there are some high notes

Before he “folds ‘em” and retires, Country Music Hall of Fame member Kenny Rogers played his final concert in Biloxi in August at the Beau Rivage Resort & Casino. While casino revenue was flat in August, people attending Rogers’ and other concerts and conventions, hit a high note for the month.
Before he “folds ‘em” and retires, Country Music Hall of Fame member Kenny Rogers played his final concert in Biloxi in August at the Beau Rivage Resort & Casino. While casino revenue was flat in August, people attending Rogers’ and other concerts and conventions, hit a high note for the month.

After posting the best July revenue in five years, Coast casinos saw revenue go flat in August as many summer vacations ended when the kids went back to school.

The 12 Coast casinos reported a gain in gross casino revenue of $200,000 for August, or two-tenths of one percent. Revenue increased to $98.4 million from $98.2 million in August 2016.

Year-to-date Coast casino revenue remains slightly behind last year but well ahead of 2015 numbers. From January through August, total revenue stands at $808 million this year compared to $810 million at this time in 2016 and $781 million in 2015.

Casino operators reduced the number of employees and slot machines in response to the drop in revenues, according to reports from the Mississippi Gaming Commission. Total casino employees decreased by 283 from last August, and there are 574 fewer slot machines.

Just as casino revenue has gone flat, so have hotel occupancy and rates. Bright spots for August were the jump in the number of people at Coast casinos for conferences and concerts.

Casino revenue fell by about $3 million in August at Mississippi’s river casinos and for the state.

August numbers for all Coast casinos

Category

2017

2016

Employees

9,394

9,677

Slot machines

13,970

14,544

Hotel room occupancy

89%

87%

Average hotel daily rate

$72.79

$72.47

Conferences

130

97

Conference attendees

14,368

8,298

Concert attendees

16,661

9,212

Visitors

$1.2 million

$1.2 million

Mississippi Gaming Commission

Casino revenues in millions

Gross revenues

Aug. 2017

Aug. 2016

% change

Coast

$98.4

$98.2

+ 0.2%

River

$69.6

$72.8

- 4.4%

State

$167.9

$171.0

- 1.8%

Source: Mississippi Department of Revenue, Gaming Commission

  Comments