Coast casinos lead state in gaming revenue, earning $147 million in June
April and June were the most profitable months Coast casinos have seen to date.
BILOXI, Miss. (WLOX) - Business is booming for Mississippi casinos with casinos on the Gulf Coast having two record-setting months so far this year.
Casinos on the Coast brought in more than half of Mississippi’s total gaming revenue, earning $147 million in June and $141 million in April. It’s the most profitable two months that casinos in South Mississippi have ever seen.
Business insider Michael Sunderman says he is not shocked by the surge, noting that while the Coast leads the state in gaming revenue, other casinos throughout Mississippi are also raking in the profits.
”Well, it is a continuation of a great trend we have seen in the last several months. It is not just on the Coast; it is statewide,” said Sunderman.
Chett Harrison, the general manager at Golden Nugget, says a lot of their revenue comes from casino guests who are over the age of 55.
”They are up double digits,” he said. “While you’re down in the 35 below, the discretionary spend of the 55-plus far exceeds them. So you’re seeing a market that is, I guess, returning back to the entertainment portion of their lives.”
The sky high numbers have been a happy surprise for casino executives and a good sign for the Gulf Coast’s economy.
”I triple-checked my numbers because I didn’t believe it,” said Scarlet Pearl CEO LuAnn Pappas. ”Rising tides float all boats. Everyone is enjoying this and it is well deserved after what everyone went through for so long.”
While the casinos may help draw travelers in, the beauty of the Coast and other amenities that are offered throughout South Mississippi keep them coming back.
”If you look at the average number of time spent gambling each day, it is only about two and a half hours so you are looking for other things to do,” said Harrison. “So people go to Ocean Springs, they go to downtown Biloxi, they go fishing, they go to play golf. There is a lot of things to do so it benefits everyone.”
The Coast casinos are on pace to shatter last year’s total revenue. Just six months into 2021 and Coast casinos have already made a profit of $820 million. That’s significantly better than 2020 when gambling revenue hit its lowest point since 1995, grossing just over $1 billion.
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