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Gulf Coast Casino Revenue Hit by Hurricanes
BILOXI, MISSISSIPPI --
Revenue numbers from the Gulf Coast casinos were down as expected in September, hit not only by the slumping economy but also the busy hurricane season. Mississippi casinos hit a three-year low in total winnings, dropping below the $200 million mark.
However, earnings had been forecast to be even lower at several coastal casinos, as hurricanes forced intermittent closures. Most were shuttered for four days due to Hurricane Gustav. The Sliver Spoon Casino closed for a week for Gustav, and another week for Hurricane Ike.
The surprising news was how badly the storms affected casinos along the Mississippi River. River casinos revenues were down 14.7 percent. Tourists apparently avoided entering an area where a storm was even deemed possible, not wishing to get stuck in evacuations that may be called.
Even though a casino was added during the year, Mississippi Gaming Commission figures show 263 fewer people employed by the industry than the previous year.
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