Casino Census: Big changes on the way to South Mississippi casino market
COURTESY OF HARRISON COUNTY TOURISM COMMISSIONCasino Row in Biloxi before Hurricane Katrina shows clockwise from top, Palace Casino, Isle Casino, Casino Magic and Grand Casino Biloxi.
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#1 Jun 6, 2012
All they're doing is super-saturating the market. The article notes 2 million fewer ppl come each year. That's because a lot of the ppl who left here & New Orleans after Katrina who came to the casinos, never came back.
Gaming revenue still hasn't returned to the 2007 levels when it 'peaked'. And that's BEFORE we adjust for inflation. If we adjust for inflation its much much worse.
And now they've ADDED casinos -- meaning the pie gets cut that much smaller with each slice.
Its over-saturated, & from what I'm told by someone I know who works @ Margaritaville -- after the Buffett concert & the glitzy opening, tips/revenue is already collapsing @ Margarita.
By next year don't be shocked if they make less than the Palace. Its hard to find, hard to get to, & they don't have a hotel.
Same with the one opening in D'Iberville -- it'll just take more revenue from the Biloxi casinos. The pie is smaller, & its getting cut in a lot smaller slices these days. All the while taxes are going to go up -- long term this won't be good.
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