Mississippi casinos followed in the footsteps of the national gaming industry, bringing a slight revenue decrease in the second quarter of the year.
The Magnolia State kicked off 2024 on a high note, generating nearly $20 million more than it had in the final quarter of 2023. However, the state has since seen a 2.3% decline in the amount of money its casinos brought in compared to Q2 of 2023. Furthermore, Mississippi’s gaming facilities hauled in $603.7 million in the months of April, May, and June — an $18.4 million drop from the $622.1 million earned in the first three months of the year.
Likewise, at the national level, a whopping $17.63 billion was tallied from commercially operated land-based casinos, sports betting, and iGaming in Q2. That figure marked a $40 million reduction from the $17.67 billion generated at the beginning of the calendar year.
The silver lining is, that despite the drop in revenue between the first two quarters, the industry recorded its 14th consecutive quarter of year-over-year growth and its highest-grossing Q2 revenue performance on record. Mississippi, on the other hand, was unable to eclipse the gains it amassed in Q2 of 2023.
“Traditional brick-and-mortar casino gaming revenue expanded annually by 1.8% in the second quarter, with slot machines and table games generating $12.49 billion in revenue,” a portion of the latest American Gaming Association report reads.
“Individually, both slot and table game revenue expanded in the second quarter from the previous year. Nationwide, casino slot machines generated $9.06 billion in Q2, up 1.9% from the previous year, while table games produced $2.52 billion, a 2.5% year-over-year increase. The separate slot and table game figures do not include data from Louisiana and Michigan, where traditional casino gaming data is reported in aggregate rather than as separate verticals.”
As markets continue to expand across the map, experts say Mississippi could be more competitive and immediately see a boost in revenue if the state legislature legalized mobile sports betting instead of forcing people to bet on games, races, and events at sportsbooks in person.
Legislation that would have legalized mobile sports betting in the Magnolia State failed this year, despite stipulations added that would have protected brick-and-mortar casinos. Various lawmakers have since told SuperTalk Mississippi News that they plan to rediscuss the topic during the 2025 session.
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