Hurricane Katrina is making life tough for many people right now including casino owners. It's been reported that this Hurricane will cost U.S. Casinos millions of dollars. Owners had to shut down their gambling operations due to this horrible storm. Most of these casinos are floating on barges and they are built to withstand this type of weather. Unfortunately, Hurricane Katrina didn't get the office memo. She still caused some pretty decent property damage to them. Many owners are glad they have insurance policies in place to cover these types of losses. In total, the Mississippi Gaming Commission shut down 17 casinos in the Gulf Coast and River County areas as of early Sunday morning. The city of New Orleans also shut down their casinos. Harrah's Entertainment has the highest exposure down south. They have nine casinos that are in the path of the hurricane. Analysts expect Harrah's to lose almost $2.5 million in revenue for each day its casinos remain closed. MGM Mirage has two casinos in Mississippi and they're expected to lose about $1.1 million in revenue each day. To make matters worse, the state of Mississippi is losing half a million dollars in tax revenue each day due to the casinos being shut down. Not only are the residents of these towns suffering but so is the economy. Click on the links for more details.
1. When did New Orleans become a state?
Posted at 6:06PM on Sep 1st 2005 by doogs