Caesars to close money-losing casino in Tunica, Miss.

Gaming Guru

Caesars to close money-losing casino in Tunica, Miss.

28 March 2014

By Howard Stutz

LAS VEGAS -- Caesars Entertainment Corporation said Wednesday it would close one of its three casinos in Tunica, Miss. on June 2, saying “persistent declines in business” made the market’s largest hotel-casino unprofitable.

John Payne, president of Caesars Central Markets, said the decision to close the 1,360-room Harrah's Casino Tunica was “difficult but necessary.” The casino employs about 1,300 and operates 1,340 slot machines and 70 table games.

The company called it another step in ongoing efforts to increase free cash flow and improve the balance sheet.

Caesars will continue to operate two casinos in the Northern Mississippi market — the 510-room Horseshoe Casino Tunica and the 130-room Tunica Roadhouse.

In a statement, Caesars Entertainment said it will attempt to find new jobs for as many employees as possible. The employees will receive preference at other Caesars Entertainment properties, including the two remaining in the Tunica area and those under development in Las Vegas.

Caesars said it will collaborate with local officials to identify alternative uses for the facility and site while upgrading the Horseshoe property.

Tunica draws customers from communities surrounding Northern Mississippi, including Memphis, Tenn.

Harrah’s Tunica will remain fully operational until its closure and will honor all room reservations and events until that time. Customers with reservations after June 1 will receive assistance in finding alternate accommodations.