Treasure bay Biloxi Picture

Here is a recent picture of the Treasure Bay Casino Pirate Ship in Biloxi Mississippi.

This is a sad picture, I was scheduled to be at the Treasure on Sept. 8th – 11th.

Source: AP Image

In the eye of the storm (Biloxi Casino Article)

Interesting article about Harrahs..

By Michael Cox/ Townsman Staff
Thursday, September 29, 2005

Between taking phone calls from distressed employees and Gulf Coast legislators and working on plans to secure his Lake Charles Casino in anticipation of Hurricane Rita, Gary Loveman had a chance to take in a few minutes of his daughters’ Wellesley High School soccer games on Friday. But you’ll have to excuse the resident if his mind was elsewhere.

As the largest employer in New Orleans and the second largest in all of Mississippi, these have been busy times for the chief executive officer of Harrah’s Entertainment Inc., a company that now has thousands of displaced workers scattered across the South, two Mississippi casino barges in ruins and a large casino complex in New Orleans facing an uncertain future.

“The facilities in Mississippi were destroyed entirely,” Loveman said of the massive three-story, football-field sized barges in Biloxi and Gulfport washed away by Katrina. “The barge in Biloxi was actually lifted off of its moorings, taken out to sea a couple of times and then it was pushed up and over the road. It landed a quarter-mile from where it had been moored.” The hurricane also took the hotels, entertainment complexes and retails shops that supported the casinos, he said.

During a visit to the region, Loveman saw the damage firsthand. Read the rest of this entry »

Biloxi insured for casino losses from Katrina

JACKSON, Miss. (AP) — The city of Biloxi, home to a dozen floating casinos smashed by Hurricane Katrina, took a gamble that paid off.

Two months before the storm struck August 29, the coastal town of 50,000 secured an insurance policy against a catastrophic event like a hurricane disrupting its stream of gambling revenue.

At Mayor A.J. Holloway’s suggestion, Biloxi spent $92,000 on a “business interruption” policy that pays out $10 million.

Casino proceeds account for about a third of Biloxi’s budget. The $10 million policy will cover about six months of lost revenue.