Mississippi casinos saw a slight decline in revenue in the third quarter of this year as the nation’s gaming industry saw an uptick overall in earnings.
Magnolia State has now amassed back-to-back quarters that are not on par with revenue generated over the same period in 2023. After starting 2024 on a high note, generating nearly $20 million more than it had in the final three months of last year, Mississippi’s casinos have experienced a 2.3% drop in annual revenue in the second quarter and a 3.5% decline in the third quarter.
In July, August, and September of 2023, Mississippi’s gaming industry hauled in $627.3 million. In those three months this year, the state earned $605.8 million — a difference of $21.5 million.
On a national level, U.S. commercial gaming revenue expansion continued in the third quarter, driven by sports betting and iGaming while traditional brick-and-mortar revenue declined slightly. The industry brought in $17.71 billion, an 8.1% bump from one year ago.
Data compiled by the American Gaming Association shows the third quarter of 2024 was the industry’s 15th consecutive three-month span of year-over-year growth and its highest-grossing third-quarter revenue performance on record.
A big push in sports betting was carried out at the tail-end of the quarter with college football and the NFL kicking off a new season on the gridiron. In Mississippi, sports betting is legal but must be done within the confines of a brick-and-mortar casino.
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 requiring people to bet on games, races, and events in person at sportsbooks.
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.
