March data from the Mississippi Gaming Commission (MGC) and Mississippi Lottery Corp. showed dramatic declines in revenue due to Covid-19.
According to the MGC, casino profits fell by nearly 50 percent. The state’s 12 coastal casinos—eight located in Biloxi—earned $67 million in March, compared to $124 million in March 2019. Casinos across the state were ordered to close March 16 to stop the spread of Covid-19 among employees and visitors.
Biloxi Mayor Fofo Gilich said the city budgeted $20 million in gaming revenue for 2020, which would be used to fund public schools, public safety programs and more. “It was off to a great year. It really was. We were hitting our stride, I think, for the rest of the year. Gaming is very important and we want to make sure that it gets back and recovers as best as it can in the next several months. We’re concerned about getting back to business as almost normal and we fear that it won’t be normal until this virus passes,” Gilich said.
Governor Tate Reeves stated, “We’re going to work with the commission to find ways to allow for a safe reopening of those entities. The casino industry employs tens of thousands of Mississippians. It’s critically important to our economy and it’s certainly critically important to the revenue streams, particularly of the local governments.”
The Mississippi Lottery Corp. said net proceeds from lottery games played in March totaled $9.9 million in March, compared to 11.6 million in February, $8.4 million in January and $7.6 in December. The state lottery has generated more than $37.5 million since it launched in November.
Lottery President Tom Shaheen said he expects ticket sales to continue to fall during the pandemic. “May and June transfers may also decline, as a result,” Shaheen said, adding TV and radio advertising have been suspended indefinitely.
