Mississippi gambling revenue eclipses $2 billion for the second straight year. In other words, in-person gambling is helping fuel Mississippi casino revenue.
According to the MS Department of Revenue (MDR), through the first 11 months of 2022, the state’s 29 casinos generated roughly $2.3 billion in gross revenue. This is a significant milestone considering the state does not offer any form of online gambling.
Revenue numbers for December will not be available until at least Jan. 20, 2023.
Mississippi casino industry drives big tax revenue year
As for tax revenue, the state collected $122,565,317 in revenue generated from gaming in FY2023. Taxes on gambling revenue in Mississippi is broken down as such:
- 4% for the first $50,000 in gross revenue
- 6% for the next $84,000 in gross revenue
- 8% for all gross revenue over $134,000
Data from the department of revenue shows from July through November, $65,852,246 in gambling taxes went into the state’s general fund. Another $15 million went into the Special Bond Sinking Fund.
Meanwhile, over $41,700,000 was directed to local governments.
March Madness and Super Bowl, most popular for Mississippi gambling
The end-of-year results are in line with post-pandemic numbers. In 2021, a year after a total industry shutdown, Mississippi casinos generated a total of $2.67 billion in gross gaming revenue.
From January to December of 2021, casino breakdown by region looked like this:
- Costal: $1,608,527,271
- Northern: $696,130,936
- Central: $364,528,387
The $247.97 million generated in March was the highest month for gambling at Mississippi casinos. March tends to be the highest-grossing month for many states with legal gambling thanks to the NCAA Men’s Basketball Tournament.
In comparison, the single biggest gambling day is in February during the Super Bowl. In November, casinos generated $194.63 million, helping push the industry over $2 billion.
Over the years, lawmakers have tried to expand Mississippi sports betting to include online bets. Unfortunately, each attempt has failed.
Technically online sports betting does exist in the state. However, it can only be done while on casino grounds. But to date, no casinos have online sports betting apps.