Biloxi Casinos Recovery
It was a record-breaking year for the Coast casinos, when Hard Rock Casino opened two years later than expected, Jimmy Buffett brought Margaritaville to Biloxi, Emeril kicked it up a notch in Gulfport and new projects were measured “with a B.”
Billions have been invested in Coast casinos since the storm. The goal for this year’s state gross gaming revenue is $3 billion, and a billion-dollar casino is proposed in Biloxi that will test the 800-foot rule for onshore gambling.
At the Southern Gaming Summit in May, Gov. Haley Barbour said he doesn’t want gambling to expand beyond the current seven counties. That statement didn’t stop opponents of a proposed Choctaw casino in Jackson County from worrying when Beasley Denson was elected the new Choctaw chief in July. Denson said he would look to the will of the tribe rather than this November’s non-binding referendum in Jackson County to determine if the Choctaws will pursue a Coast casino.
When the Isle of Capri celebrated the 15th anniversary of casinos in August, Biloxi Mayor A.J. Holloway said the state far surpassed the original projections of six casino boats and $10 million in revenue for the state.
“We don’t have paddlewheelers. Nor do we have casinos. We have casino resorts. We have a multibillion-dollar industry.”
Casinos contributed more than $800 million in tax revenue to the state and cities in 15 years and Holloway said, “I hate to think where we would be today in this post-Katrina world were it not for the revenue and jobs created by this industry.”
Larry Gregory, executive director of the Mississippi Gaming Commission for the past 12 years, thinks of the casinos as children he has watched grow. The state has evolved to one of the top 10 gambling markets in the country, and he’s expecting more casinos to come.
Biloxi growth
Casinos have driven the Coast’s post-Katrina economy, especially in Biloxi. Every casino in the city expanded or updated, and Hard Rock Casino, two days from opening when Katrina hit, finally got its debut.
Competition was keen for celebrity partnerships, promotions and expansions, yet cooperation among the casinos brought people back to work and moved the Coast to recovery. Players rewarded the casinos with record earnings.
Harrah’s Entertainment and singer Jimmy Buffett are partnering to build Margaritaville, with construction to begin in August. Bacaran Bay plans to break ground before the end of 2007 and summer 2008 is the target for groundbreaking at Bayview Casino Resort next to Boomtown on the Back Bay. The Broadwater property has more than 200 acres to develop and spokesman Mark Calvert said they are looking for the right joint venture or sale. A $1 billion casino is proposed on the site of the old Tivoli Hotel, but that location faces rezoning by the Biloxi City Council and having the property declared a suitable site by the Mississippi Gaming Commission.
Source: Sun Herald