B
iloxi’s eight casinos reported Monday a record of $1.02 billion in gross casino revenue in the last fiscal year, only the second time in 29 years that revenue reaches a seven-figure number. The fiscal year ended September 30, 2021.
According to The Sun Herald, April was the best month for casino revenue this year, with $111 million, followed by July with $106 million. Gross casino revenue is the amount the casinos collect after they pay winners. Casinos pay 12% tax on winnings before they deduct the cost of wages and other expenses and the state, city, county and local school districts split the tax money from the record year. Tax revenue is divided like this:
- Mississippi: $81.6 million (accounting for 8% of the gaming revenue tax)
- Biloxi: $22.9 million (accounting for 3.2% for public safety and 40% as a general fund)
- Harrison County: $9.52 million (accounting for 10%)
- Biloxi Public Schools: $6.53 million (accounting for 20%)
- County schools: $3.26 million (accounting for 10%)
Fiscal year 2021’s numbers are similar to 2007’s figures, when revenue was $1.006 billion and disaster workers and volunteers were still in Biloxi following Hurricane Katrina in 2005. 2021’s figures come despite mask mandates for part of the year to protect staff and guests from COVID-19, and significant damage to several of the casinos during Hurricane Zeta in October 2020.
The Mississippi Gaming Commission will report gross casino revenue mid-October. The Coast casinos had a revenue of $1.08 billion through August, which was the same total for all of 2020, when the casinos were closed for two months during the coronavirus pandemic.
Original article: https://www.yogonet.com/international//noticias/2021/10/12/59705-biloxis-casinos-report-record-102-million-in-fy2021-revenue
