Mississippi revenues up despite tropical storm

Barbara Powell

Friday, Oct. 18, 2002 | 9:53 a.m.

JACKSON, Miss. -- Mississippi casino gaming revenues for September enjoyed a healthy increase despite Tropical Storm Isidore, which shut down coast casinos for two days.

Gulf Coast and Mississippi River casinos posted revenue increases for September, according to the Mississippi State Tax Commission.

The 12 state-regulated coast casinos -- which lost an estimated $5 million from a 43-hour shutdown in September -- reported that revenue last month increased 4.6 percent to $95.7 million.

Revenue for the 18 state-regulated casinos along the Mississippi River rose 5 percent in September to $131.4 million.

Total gross revenue for the first nine months of the year for all 29 casinos was $2.09 billion, or flat compared to the first nine months of 2001.

The growth rate for gaming revenues, which has averaged 2-3 percent a year, has slowed as the economy faltered.

Now, gaming industry analysts are wondering what to make of September's surprising strong showing, coming on the heels of unexpectedly weak August revenues.

"We've seen these two strange months and until I see two or three more months I would hate to make any predictions," said Brian Richard, director of research for the Mississippi Gaming Association, an industry trade group.

The last three months of the year are traditionally the slowest for Mississippi's casino industry.

In addition, October revenues could be lower than normal because of Hurricane Lili, which struck earlier this month.

The Mississippi Gaming Commission ordered all the state's regulated casinos to close for several hours as Lili moved through the state.