Rosy Picture for Katrina Coastal Casino Rebuilding
Casinos made the commitment to rebuild on the Coast soon after Katrina struck because of the state's push to legalize onshore gambling and keep their taxes unchanged. So said Jerry St. P?, chairman of the state agency that oversees the industry, at the Southern Gaming Summit on Friday.Gambling revenues are likely to exceed pre-Katrina levels by the end of 2007 , he said, but had Gov. Haley Barbour and the Legislature not allowed casinos to move 800 feet ashore, the scenario would be different."I am satisfied that in the absence of that decision, the industry would have returned in some fashion, but only a fraction of itself," St. P? said.U.S. Rep. Bennie Thompson, who delivered Friday's keynote address, encouraged casinos to spread goodwill in their communities and engage state leaders to fend off any tax increases that could hamper economic growth.Other obstacles lie ahead in rebuilding the Coast's tourism economy, especially housing.
May 8, 2006
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com
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