Land-based future for Miss. casinos unlikely despite flooding
“Despite the flooding, it’s unlikely the [Mississippi] Legislature will accept land-based gaming [for river casinos],” Gregory told attendees at last week’s Southern Gaming Summit held at the Mississippi Coast Coliseum and Convention Center in Biloxi, Miss. He explained that the Legislature is very conservative, and is unlikely to further alter the intent of original enabling laws that mandated casinos be operated on water.
“It took Katrina to convince legislators to bring the 800-foot rule [to the Gulf Coast] and that barely passed,” Gregory added.
The Mississippi River is currently suffering its worst flooding since the 1920s, with water expected to crest 48 feet above normal early this week. The Mississippi Gaming Commission has ordered the state’s river-based gaming properties to close as the crest advances, and remain shuttered until the flooding subsides and clean-up takes place, a process that can take anywhere from three to six weeks, according to published reports.
Tunica, Miss.-based properties have been closed since Monday, May 2. Casino barges and riverboats in Lula, Greenville, Vicksburg, Natchez and elsewhere downriver were expected to suspend operations by Friday, May 6, according to Gregory. “This is the worst flooding we’ve had in a very, very, long time,” he said. “It will have a significant economic impact on our state. In Tunica alone, the state receives $10 million in gaming tax revenue per month, not to mention taxes derived from hotels and other gaming related business."
“The river casinos also employee 13,000 people, who will be out of work for… we just don’t know how long at this point,” Gregory added.
The Southern Gaming Summit is an annual trade show and conference that takes place each May in Biloxi and is presented by the Mississippi Casino Operators Association and BNP Media, the parent company of Casino Journal. This year’s event had over 100 exhibitors and attracted 3,000 attendees. For more information on the event, visit www.sgsummit.com.