Biloxi casinos have their best year ever, topping $1 billion in revenue
Biloxi’s eight casinos posted a record $1.02 billion in gross casino revenue in the last fiscal year, only the second time in 29 years that revenue topped $1 billion.
The city reported the numbers Monday for the fiscal year, which ended Sept. 30.
It comes despite mask mandates for part of the year to protect staff and guests from COVID-19, and significant damage to several of the casinos during Hurricane Zeta in October 2020.
The only other time revenue topped $1 billion was in 2007, when revenue was $1.006 billion and disaster workers and volunteers were still in Biloxi following Hurricane Katrina in 2005.
Included in the numbers for 2021 but not 2007 is revenue from sports betting, which was legalized in Mississippi in 2018.
April was the best month for casino revenue this year with $111 million, followed by July with $106 million.
Gross casino revenue is the amount the casinos collect after they pay winners. Unlike most businesses, which pay taxes on profits, casinos pay this 12% tax on winnings before they deduct the cost of wages and other expenses of doing business.
Where the taxes went
The state, city, county and local school districts split the tax money from the record year.
Here’s who received tax revenue:
- Mississippi: $81.6 million
- Biloxi: $22.9 million
- Harrison County: $9.52 million
- Biloxi Public Schools: $6.53 million
- County schools: $3.26 million
How are the other casinos faring?
All 12 Coast casinos are on pace for a banner year in 2021. Mississippi Gaming Commission will report gross casino revenue for October about the 15th of the month.
The Coast casinos had revenue of $1.08 billion through August, which was the same total for all of 2020, when the casino were closed two months during the coronavirus pandemic.
This story was originally published October 12, 2021 at 5:50 AM.
