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Coast casino winnings fall in October | Business

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Casino Industry

JULIE JACOBSON/ASSOCIATED PRESSCasino revenues increased this year in 18 of the 21 states that allow it, but revenue was down at Mississippi casinos in October.

Julie Jacobson — AP

Casinos in South Mississippi and across the state saw lower winnings in October than a year ago.

With one more casino open in South Mississippi than in Oct. 2011, revenue at the Coast casinos was down more than 5 percent from last year. Winnings at the 12 casinos were $83.5 million compared to $88.2 million in October 2011.

The October report issued Wednesday by the Mississippi Department of Revenue showed winnings at the river casinos fell 11 percent to $83.9 million.

Mississippi's casino revenue was 8 percent below a year ago.

It's been an up and down year for the Coast casinos, which five times had better revenue than the same month in 2011 and five times had lower winnings.

Revenue is $6 million behind the pace for the first 10 months of 2011 at the Coast casinos. Revenue is $923.2 million year-to-date compared to $929.5 million for January through October 2011.

The entire state is still ahead of last year, with revenues of $1.898 billion compared to $1.886 billion at this time in 2011.

The casinos paid $24.5 million in taxes on winnings in October, with $8.3 million of that amount transferred to Coast cities and other local governments.

Read more http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGQseTxTamN-lI8hc6D9LqwaravEQ&url=http://www.sunherald.com/2012/11/21/4318039/coast-casino-winnings-fall-in.html

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