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Harrahs Plays Hardball With Gulf Coast Governments, Subtly

By Chuckmonster on Monday, 12th September 2005 10:14pm
  » filed under Las Vegas  comments: 0

   

Harrah's Entertainment Inc. (HET.N: Quote, Profile, Research) won't decide whether to rebuild its Mississippi Gulf Coast casinos until the state decides whether or not to allow land-based construction, Chief Financial Officer Chuck Atwood said on Monday.

Harrah's, the world's largest gambling company, also said its Grand Casino Biloxi and Grand Casino Gulfport were "significantly damaged" by Hurricane Katrina, and it cannot provide estimated reopening dates for the properties.

Officials in Mississippi, which relies on casino taxes for about 10 percent of state revenue, have said the issue of allowing casinos on land is likely to be addressed by the state legislature.

"We are counting on the fact that the government will act quickly to give us that clarification," Atwood said.


[ This is another subtle threat from Harrahs. "You don't let us build on land (and in turn build massive casinos all over the place) and we won't rebuild - and you won't get your tax dollars." The question really is, does the state have the cojones to call Harrah's hand - Ed ]



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