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Casino Revenue Growth Slowing In Mississippi22 August 2000JACKSON, MISSISSIPPI – Aug. 22, 2000 – As reported by The Associated Press: "Mississippi casino revenues are slowing, figures for July show, but analysts say that's the result of increased advertising and marketing costs. "Casino revenues along the coast grew 5.6 percent during July compared with the same time last year. "Mississippi's 29 state-regulated casinos won $252.2 million for the month, more than $5.5 million more than the $246.7 million they won in the same period a year ago. "…The weak revenue growth is forcing Coast casinos to spend more on advertising and marketing, a strategy that is cutting into profits, said Jay Osman of Osman Holding Co. Inc. of Biloxi. "Grand Casino Biloxi reported an 11 percent dip in cash flow for the three months ending in June compared with the same period last year, Osman said, while cash flow at Casino Magic Biloxi for the quarter fell 20 percent. Results at several other Coast casinos were relatively flat. |