With 11 Casinos, July Revenue Almost Breaks All-Time Record
Today marks the start of the Gulf Coast Poker Championship, a 10-event series at the Beau Rivage that’s capped by a $10,000 championship that will be filmed and broadcast by the World Poker Tour.
It also marks the two-year anniversary when an estimated 90 percent of Biloxi’s buildings were destroyed by Hurricane Katrina. Images of the barge-casinos that were washed ashore — their slot machines planted on the beach — were shown over and over on national news. It was just another example of how vicious the storm was.
On this same day last year, the Beau Rivage, which is an MGM/Mirage property, joined three other casinos that managed to open at the end of 2005. The new casinos marked the start of a frantic boom that saw another seven casinos open for business. The 11 casinos that operate in Biloxi and Gulfport are only two shy from the 13 that operated before the storm. There are plans to build at least four more casinos in the area in the coming years. Atlantic City, by comparison, also has 11.
The casino industry in Mississippi has recovered so completely that the gambling revenue for this July fell only $100,000 short of the record month of July, 2002, when Gulf Coast casinos brought in $266.3 million.
n the first seven months of 2007, Gulf Coast casinos have generated a gambling revenue of $1.7 billion.
One of the reasons for the boom is Katrina changed the way casinos could be built in Mississippi. Before the storm, the complexes had to be near the water, and the actual casino floor had to be a “riverboat,†which was always a moored barge. The hotels, if the casinos had them, were allowed to be land-based.
After the storm, casino owners convinced lawmakers that for the industry to return, they must be allowed to build on land. Casinos can now be built up to 800 feet onshore, allowing developers to go bigger.
The resurgence of the casino industry has put a fast track to the recovery of Biloxi. Biloxi Mayor A.J. Holloway has repeatedly told reporters that the casino industry is fueling the recovery of the area, as well as statewide, because state income from casino-generated taxes had already reached pre-Katrina levels.
The WPT Gulf Coast Poker Championship, which takes place so close to the anniversary of the horrible storm, will undoubtedly serve as a sort of way to show that the casino industry in the Gulf Coast is back. And it continues to grow.
Satellites to the Gulf Coast Poker Championship started today, and the full schedule kicks off tomorrow.
Source: Card Player
BILOXI, Mississippi — As reported by the Biloxi Sun Herald: “Two years after Hurricane Katrina shut down the casino business on the Coast, gross gaming revenue soared to a record high of $122.4 million in July, 11 casinos are open compared with 12 before the stormand it’s difficult to keep count of how many more are proposed.
“Developers Donald Trump and the Golden Nugget have come and gone, but others – including singer Jimmy Buffett – are investing in the Coast.
“…Hard Rock Casino opened in June with huge numbers, continuing the Coast’s record of expanding its market share with the opening of each new hotel/casino/resort. Casino executives and Mississippi Gaming Commission Chairman Jerry St. Pé said a year ago on the first anniversary of Katrina they expect this trend to continue.
“St. Pé said the $500 million invested by MGM Mirage to reopen Beau Rivage a year ago is an indicator of what’s to come on the Coast…”
Source: Casino City TimesÂ
Treasure Bay is pretty much the favorite casino of the Biloxi Blog. Of course the Beau Rivage is also on top of the list. But the Bay has always treated me so good, that they get the nod. I am glad to see the hotel finally open. Here is the article from the Sun Herald..
BILOXI – Earlier this summer the expanded casino floor and buffet opened, and now Treasure Bay Casino is welcoming its first overnight guests since Hurricane Katrina.
Erik Johnson, director of advertising, said several floors of the hotel tower opened this week and more will be available within about a month.
Adding to these first 91 rooms will be 70 more rooms and suites at the end of September. An additional 90 pool terrace rooms will then be renovated and ready for guests near the end of the year, Johnson said.
Completely renovated since the storm, the tower rooms were designed with plush fabrics and imported furnishings in keeping with the decor of the resort. The guest rooms feature pillowtop mattresses, high-definition TV, a choice of tub or walk-in shower and sweeping views toward the Gulf of Mexico or overlooking the swimming pool and the city.
Also coming in September will be the debut of the CQ fine-dining restaurant and adjoining Blu ultra-lounge on the ninth floor, along with retail and four conference rooms to accommodate weddings and small conferences. Joining Executive Chef Tim Miller are “a number of chefs coming back from Captain’s Quarters.” That restaurant was destroyed during Katrina along with the Treasure Bay pirate-ship casino. Treasure Bay management chose to bring back several of the most popular dishes from the original restaurant while giving the new steak and seafood restaurant a different name and updated style.
The infinity swimming pool area is also getting a complete makeover. A rock waterfall will spill into a lower pool and there will be cabanas, a fire pit and poolside bar. “The whole area’s being landscaped,” Johnson said, and they hope to use the area for events.
I will be keeping my eye out for fresh reviews about the Treasure Bay hotel, I am also trying to make a trip in the very near future so I can offer my own review.
