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Gulf Coast's Best Revenue Since Hurricane Katrina Seen in July
Since Hurricane Katrina during July of 2005, Gulf Coast gambling casinos have had their best revenues during the month of July. The casinos made $74.4 million in gross gambling revenue, a 15% increase or $9.8 million increase since June.
Anthony Sanfilippo, President of Operations in the Central United States for Harrah's Entertainment asserted, "That's a great statement about what's happening in this market."
The highest percentage of this year thus far was presented this month, showing that the Coast market is getting back on its feet. The 5 casinos that reopened already generated 73% of what 12 casinos made last year.
July of last year was the Coast casinos' worst month ever after 7 years in the industry. The properties in Harrison County were closed from Saturday afternoon until Monday morning due to the Hurricane that spared the Biloxi area and made the landfall in Florida.
The casinos accounted for 65% of the market share compared to July 2 years ago. In addition, for Boomtown Casino, July is the first month to fully operate the casino that brought 1,111 slot machines and 22 table games into the market.
A prediction of $75 million is made by Scott King, who teaches Casino Management at Tulane's Biloxi campus. As for August, the revenue is expected to rise as a result of the reopening of the Grand Casino Biloxi on Thursday and the Beau Rivage later this month.
According to King, the state should watch out for the impact of these 2 properties that will open.
Thursday, February 15 , 2007
Gerald Kernighan