SEARCH NEWS:

 

Mississippi Casino Revenue Still Down

BILOXI, Mississippi – As reported by the Biloxi Sun Herald: "Comparing hurricanes

"The decrease in casino revenue caused by Hurricane Ivan is similar to what occurred in 1998 when Hurricane Georges made a direct hit on the Mississippi Gulf Coast.

"Hurricane Georges: 7.1 percent decrease from September 1997, 4.8 percent decrease from October 1997.

"Hurricane Ivan: 7.8 percent decrease from September 2003, 4.4 percent decrease from October 2003. Hurricane Ivan may have veered past the Mississippi Coast, but its impact on casino revenue is almost the same as a direct hit.

"October revenues, which were just under $93.5 million, dropped 4.4 percent from the same period a year ago. The reduction follows a 7.8 decrease in September. The back-to-back decreases are within one percentage point of the dips caused by Hurricane Georges in 1998.

"…'I think the casinos are still feeling the effects of the damage in Florida, just because that's such a big market,' said Brian Richard, director of research for the Mississippi Gaming Association. 'It's been slow to come back. People are more worried about fixing their houses than getting away for the weekend.'

"…Ivan caused little damage to the casinos. All were back open the day after the storm came ashore in Gulf Shores, Ala., and hit the Florida Panhandle with its more powerful right side…"

< Gaming News