And the bills keep storming in?- 2005-09-01

Take a class 5 hurricane, harsh weather conditions and a strip of casinos - what do you get? $500,000.00 daily tax revenue losses recorded by the state of Mississippi, significant material damages incurred by these exclusive gambling resorts, as well as millions of dollars vanished everyday of inactivity.

With top winds close to 140 mph hitting along the shore of Mississippi, no one knows yet the full extent to which the 12 gulf coast casinos were hit and will emerge from this tropical depression. One thing is for sure, the magnitude and effects of Katrina are still being felt and are guaranteed to have tremendous detrimental economic and financial repercussions on the region.

Thus far, it is being said that fourteen thousand gaming industry employees have had their jobs and activities suspended until further notice. It is now time for casino operators, insurance companies, the State and contractors to estimate the time and money it will take to restore everything back to its original condition, and turn this nightmarish scenery into the paradisiacal oasis it once was.

This third quarter promises to be a hard one for implicated stakeholders and victims of Katrina. Certain gaming companies will have to manage harder hits than others depending on their percentage of total gross profits derived from this now decimated area. As always with casino and gambling, the tide can turn very quickly for the best or the worst. Experts nonetheless believe that a fast recovery and greater protective measures in the future can only benefit the site.

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