The Mississippi Gaming Commission, also known as MGC, has published numbers for April 2024. They have served two purposes: one, they have shown that there is a decline in comparison to the previous month and the same month for the previous month; and, two, they have triggered a round of discussion about the potential of online casinos in the region.
For starters, the revenue comes to approximately $192 million. This is a decline of 18.3% in comparison to March 2024. The number that month was $235 million, an increase of 13.8% over February 2024. It represents a $27 million decline from April 2023, reflecting how 25 casinos performed during the timeline in Mississippi.
There is a major decline in the northern region, with revenue dropping by 22.5%. The Central region and the Coastal region saw a dip of 19.3% and 16.6%, respectively. Experts claim that the monthly decline of 18.3% represents the largest decline since April 2023. Notably, numbers have always declined in April over the last four years.
The trend started in April 2021, when GMC reported revenue worth $261.3 million. It then went on to report $206.1 million, $209.4 million, and 192 million for April in the following years. If there has been an increase, it has been minor and is nonetheless worth mentioning. It is still riding high on the post-Covid pandemic boom, as the figure before the epidemic was $180 million.
Online casinos may not make an appearance in Mississippi anytime soon, but industry experts believe that having them will be more fruitful than damaging. Experts estimate that the segment will generate millions of dollars in revenue and provide residents with an extended entertainment option.
Online casinos are not legal in Mississippi. They are legal in seven US states: Delaware, Michigan, Connecticut, Pennsylvania, New Jersey, West Virginia, and Rhode Island.
The concern that brick-and-mortar casinos may lose a portion of their revenue to online venues is what holds online casinos back. Every state has extensively debated this issue, which has hindered the rapid expansion of online casinos nationwide. There are also concerns about problem gambling, for casinos will be in everyone’s pocket if the online segment is legalized. Some of the USA online casinos have been able to deal with the concern and prove that they take enough measures to prevent it.
Mississippi does have in-person sports betting. This could eventually work in favor of online casinos when the time comes to legalizing them. Earlier attempts failed due to issues such as in-person registration and the minimum age requirement for daily sports fantasy.
Online casinos do have issues, but they also enhance engagement in their home states. It now remains to be seen how physical venues perform in the months to come.
