Mississippi casino revenues dip sharply in May

It's the 21st month out of the last 23 that Mississippi casinos have won less money from gamblers compared to the same month of the previous year. June could see even sharper drops in the river region, with Caesars Entertainment closing its Harrah's casino in Tunica County on June 2nd. About 1,000 workers lost their jobs in the shutdown, which left Caesars with two smaller casinos in the struggling eight-casino market.

The numbers exclude Choctaw Indian casinos, which aren't required to report winnings to the state. Revenue at Gulf casinos are down 2 percent over the last 12 months, reflecting a pattern where winnings have actually risen in a few months and remained flat in others. The river casinos have seen revenues fall 7 percent over the last 12 months, where Tunica and Lula casinos have suffered in part from competition from expanding gambling at two racetracks in Arkansas.

Revenues in Arkansas increased almost seven-fold from 2007 to 2013, rising by more than 10 percent from the earlier year for 55 straight months. But rapid growth has shown signs of leveling out in the first half of 2014. Arkansas casino winnings rose 1.5 percent in April to $18.8 million.

In Louisiana, the 21 state-licensed casinos took in 202.5 million statewide in May, nearly even with winnings from a year before. The total dipped $317,000 — one-tenth of one percentage point down from May 2013. Winnings were downs in New Orleans, Baton Rouge, Lake Charles and Morgan City, but rose in Shreveport-Bossier City and Opelousas.