Gulf Coast Casino Boom Post Katrina

The Gulf Coast casino industry is enjoying its biggest boom ever, all thanks to the double punch of hurricanes Katrina and Rita.

But Mississippi, with a reconstruction plan featuring shoreside casinos that are attracting billions of dollars in investments, will be back in the hunt soon and positioning itself to reclaim its gambling dominance in the South, industry analysts say.

Flocks of gamblers have provided a revenue boost for Louisiana, which faced dire predictions of deep cuts in spending after the storms. Through the first 11 months of the current fiscal year, the state's take was $473.8 million, up sharply from $413.9 million a year ago.

Most of the increase has been centered in New Orleans and Baton Rouge, which both saw big population shifts because of Katrina, and in Lake Charles, where an influx of workers repairing Rita damage has joined regular throngs from nearby Texas.

How long the boon will last, however, is anyone's guess.

Analysts and industry figures suggest the planned $5 billion of investments to rebuild Mississippi's coastal casino resorts will again relegate Louisiana's gambling outlets to second-class status.

June 27, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!