As the busiest part of the gaming season begins, recent revenue reports have some concerned the economic downturn may affect the industry.
"The summer is going to be a snapshot of what we're going to be looking at for the next few quarters," said Larry Gregory, executive director of the Mississippi Gaming Commission.
April marked only the second time since December 2006 that the state's Gulf Coast casinos earned less than $100 million.
Revenue was $97.1 million in April, a 9.4 percent drop from $107.2 million a year earlier, according to the Mississippi Tax Commission.
April is typically a slow month for casinos since children are still in school and families aren't yet able to travel, Gregory said.
Revenue at the state's casinos through April was $949.1 million compared to $999.9 million a year earlier.
"Clearly, the downturn in the economy is indicative of those numbers. Mississippi is a driving market from the Florida Panhandle and Louisiana. The dollar has tightened. Where (people) cut is the entertainment dollar," Gregory said.
For the full story, please see Jeff Ayres, Declining revenue for gaming industry triggers fears of slow summer season, Clarionledger.com, June 1, 2008.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment