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Round Up: Gulf Coast Casinos Suffer Extreme Hurricane Damage

By Chuckmonster on Tuesday, 30th August 2005 10:05pm
  » filed under Las Vegas  comments: 0


From The Clarion Ledger:
Damage to the 12 casinos along the Mississippi Gulf Coast still is being assessed, but early reports say it is severe.

According to The Sun Herald's Web site, half of the $235 million Hard Rock was destroyed, although its 112-foot-tall guitar-shaped sign survived the lashing.

A barge from Grand Casino Gulfport is reportedly blocking U.S. 90, and Treasure Bay's pirate ship is said to be beached.

From USA Today:
Hurricane Katrina dealt Gulf Coast casinos a devastating hand, destroying several properties and crippling the region's gambling industry for months, if not years to come until the companies can rebuild their operations.

In Mississippi, some of the hardest hit were in Biloxi, where the Grand Casino, Hard Rock, Treasure Bay, Palace Casino, Boomtown and President Casino felt the brunt of the powerful hurricane, according to company officials and witnesses.

Gary Loveman, chairman of Harrah's Entertainment Inc., the world's largest gambling company, told CNBC its Grand Casino that is built on a floating barge was "probably ruined." Aerial footage showed the ravaged casino had washed ashore and landed on the other side of a busy highway.

"I think it will have to be cut into pieces simply to be moved out of there," Loveman said.



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