Casino tax collections down in May, following April dip|[06/07/08]
Published 12:00 am Saturday, June 7, 2008
Gaming tax revenues were down from a year previous in May, leaving the total collections this fiscal year to date about $212,000 shy of what was brought in during fiscal year 2007.
Each week, casinos pay 3.2 percent of revenue to the Mississippi State Tax Commission, which in turn rebates the money each month. Totals in Warren County are divided, with 65 percent going to the city, 25 percent going to the county and 10 percent going to the public school district. Additionally, a 0.8 percent share added to the state’s 8 percent revenue tax on casinos is split based on population proportions between the city and county. The city also imposes a $150-per-gaming-device fee on each casino.
In May, the 3.2 percent tax alone brought in $653,187 total, compared to $690,280 in 2007. With the 0.8 percent tax and device tax added, the city of Vicksburg collected $527,508, while the county benefitted $240,514 and the school district $65,319, for a total of $833,341.
Fiscal year to date, total taxes received from the four casinos are $7.03 million, while $7.24 million was collected in 2007.
At a glanceGaming revenue tax collections from Vicksburg’s four casinos in May:Total – $833,341City – $527,508County – $240,514Schools – $65,319Tax revenue collections in the county in April were the lowest since November 2006. Total collections on all Mississippi casinos in April were down 12.8 percent in the state from 2007, with $210 million paid compared to $241 million in 2007.
Casino revenue is the net amount won from gamblers, and is not profit.
Riverside gaming first came to Vicksbug in 1993. The city now has four casinos and one on the way. Riverwalk, off Warrenton Road, is set to open in November. Ameristar, the city’s largest, just completed the first phase of a $100 million expansion, which includes a eight-story parking garage, live poker room and expanded gaming floor. Other additions, to be completed this year, will include two restaurants, an upscale lounge, retail space and a Starbucks coffeehouse.