Vicksburg tax revenues climb
Published 12:00 am Tuesday, April 21, 2009
Numbers suggest the Vicksburg casino market may be faring a shade better than the rest of the state, which saw March revenue increase over February but trail figures posted a year ago.
Revenue-based gaming taxes paid to Vicksburg, Warren County and the Vicksburg Warren School District from Vicksburg’s five casinos increased in March compared to a year ago, and the year-to-date numbers, which start each Oct. 1, are up slightly as well.
However, Vicksburg is the only market in the state that saw the addition of a casino over the past year, with the opening of Riverwalk Casino six months ago.
Gamblers left behind $232.9 million at Mississippi’s state-licensed casinos in March, an increase from February, but a total that lagged about $28 million behind March 2008, according to the Mississippi Tax Commission. In February, the casinos won $216.5 million, while the March 2008 tally was $260.6 million.
Casinos along the Mississippi River won $131.1 million last month, up from $116.9 million in February and down from $139.8 million in March 2008, while those on the Gulf Coast took in $101.8 million last month, compared with $99.6 million in February and $120.8 million in March 2008.
Mississippi’s state casino tax total was $31.8 million in March. Casino developments also pay property taxes and collect sales taxes along with local tourism and bed taxes. For the city, about one-third of all revenue comes from casinos operating here since 1993.
Vicksburg’s five casinos pay a 3.2 percent revenue tax that is split, with 10 percent going to public schools, 25 percent to Warren County and 65 percent to the city. A second revenue tax is a 0.8 percent share of the state’s 8.8 percent revenue tax. It is split based on population proportions between Vicksburg and Warren County. Each casino is also required to pay $150 for each gaming device annually to the city. Two casinos have paid the device fee thus far this year. These are the latest receipts.
March 2009
City……………..$651,124.29
County……….$306,073.32
Schools……….$83,234.57
Fiscal year to date 2009
City…………..$3,582,402.50
County……….$1,504,308
Schools……….$408,508
March 2008
City…………..$642,927.94
County……….$302,518.80
Schools……….$82,212.76
Fiscal year to date 2008
City………….$3,512,401.08
County………$1,501,937
Schools………$407,947