Page 6 - Mississippi/Louisiana Gaming News - Spring, 2022

Mississippi casinos see record Q1 revenues
Official Newsmagazine of the Mississippi Gaming Industry
SPRING 2022 Volume XIX Issue 2
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Mississippi Gaming News
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MISSISSIPPI — The American Gaming Association (AGA) recently reported that commercial gaming in the United States is off to
the best start of a year ever in 2022 as the industry hit $14.31 billion in revenue in Q1, narrowly missing the all-time quarterly record. March, with $5.31 billion in revenue, marked the highest- grossing month in industry history.
It is the same story for the Mississippi Gulf Coast casinos,
which saw record revenue each
month in January, February and
March to make for a record-
shattering $407 million first quarter. The performance of Gulf Coast casinos combined with increased revenue at river casinos ($250 million) made for a banner first quarter for the Mississippi gaming industry statewide. Revenue for Q1 in 2022 versus 2021 was up by 8% on the Gulf Coast, 4.3% at river casinos and 6.9% statewide.
The best first quarter ever for U.S. casinos follows a record year for commercial gaming revenue nationwide. The recently released AGA State of the States report details the remarkable industry performance from last year. The record year for commercial gaming revenue ($53.03B) also set a record
for gaming tax revenue at $11.69 billion paid to state and local governments nationwide.
The success of gaming industry properties, as illustrated by the tax revenue figures, directly benefits
the communities in which casinos
are located. “Our industry’s success goes beyond the bottom line and into communities across the country,” said Bill Miller, AGA president and CEO. “The record state and local tax contributions fund vital services from infrastructure and education to healthcare and emergency services.”
Notably in the State of the States report was the fact that the Gulf Coast ranked as the fifth highest-grossing market in the country, with revenue totaling $1.61 billion in 2021. Only
the Las Vegas Strip, Atlantic City,
Chicagoland and Baltimore-Washington DC ranked higher. More insights into the success of the Mississippi gaming market include:
In 2021, Mississippi’s Gulf Coast and Tunica/Lula regions were the two fastest growing commercial casino gaming markets in the country when compared to pre-pandemic revenue totals for 2019, growing 22.3% and 17.8% respectively.
In 2021, total Mississippi commercial casino gaming revenue was $2.67 billion, up 48.7 percent versus 2020 and 21.3 percent from the pre- pandemic 2019. It was the Mississippi commercial casino gaming market’s highest annual revenue total since 2008 and came despite the closure of most Gulf Coast casinos for several days in August due to Hurricane Ida.
Total Mississippi statewide revenue from electronic gaming devices as reported by the Mississippi Gaming Commission was $2.18 billion, up 49.9 percent versus 2020, while table game revenue was $368.0 million, up 39.2 percent. Sports betting revenue was
a record $65.9 million, an increase of 50.6 percent from the prior year.
In 2021, Mississippi commercial casinos generated approximately $311.5 million in direct gaming tax revenue, an increase of 45.7 percent versus 2020, according to statistics by the Mississippi Gaming Commission.
While these numbers are great news for the gaming industry here, it
6MISSISSIPPI GAMING NEWS SPRING 2022