Revenues decrease at city casinos
Published 6:00 am Thursday, November 25, 2010
Revenue reported by the state’s 19 licensed casinos on the Mississippi River, including five in Vicksburg, fell by $2 million in October compared with last year, mirroring a similar drop in the statewide take and local tax revenue from gaming.
Casinos from Natchez to Tunica took in $103.5 million from gamblers last month, down from $105.5 million in October 2009, according to figures from the Mississippi Department of Revenue. The 11 on the Gulf Coast won $88.1 million in October, up $2 million from the same period a year ago.
The revenues reported are gross figures, without deductions for operating costs or other expenses. Hotel, restaurant and bar revenues generated also aren’t included in the gross. Figures don’t include the state’s Indian tribal casinos, which aren’t required to report winnings publicly. The department reports revenue on a calendar year basis, while taxes are reported on the state’s July 1-to-June 30 fiscal year.
Gaming taxes paid by the facilities during the state’s fiscal year to date totaled $94 million, down from $94.9 million a year ago. Revenue and population-based taxes paid to Vicksburg and Warren County from its local casinos also took a dip from last year, with the city’s take at $461,732, down 16 percent from last year. Warren County’s share fell 17 percent, to $188,269 from $226,857 a year ago.
Vicksburg’s five casinos pay a 3.2 percent revenue tax to the state that is divided locally, with 10 percent going to schools, 25 percent to Warren County and 65 percent to the city. A second revenue tax is an 0.8 percent share of the state’s 8.8 percent revenue tax, divided based on population proportions between the city and county.
Sales tax shares collected by the city on businesses inside city limits were also down for the most recent month and for the past fiscal year.
Receipts on the 18.5 percent the city receives from all sales taxes collected fell 2.4 percent in September to $567,957. For the 2009-10 fiscal year, collections reached $7.2 million, down about 2.9 percent from the $7.4 million collected in 2008-09.
Revenues to the city lag actual sales tax collections by two months, meaning receipts for September reflect sales taxes collected on sales in July.
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The Associated Press contributed to this report.