It wasn’t too long ago that Mississippi was the third most frequented gambling destination in the United States behind New Jersey and Nevada. Now, the once-popular gaming state has dropped to fifth behind Indiana and newcomer Pennsylvania.
The entire casino industry has been hit hard by the recession, but casino-friendly cities in Mississippi such as Biloxi, Tunica and Vicksburg have also had to deal with nearby competition and still haven’t completely recovered from the several-month shutdown following Hurricane Katrina in 2005.
Overall, gambling earnings are down roughly 9 percent for August compared to the same month in 2010, when casinos took in $201.7 million. This year, that number dropped to $185.1 million.
The state must also factor this drop in revenue into their yearly budget, because gambling taxes make up roughly 3 percent of their take. New properties in Louisiana, Missouri, Florida and even Arkansas have been making up a good chunk of the competition.
