Harrah's to announce Biloxi plans

2007-04-12 16:44:01

Harrah's Entertainment plans to open a new land-based casino in Biloxi, Mississippi.

The company offered few details regarding the forthcoming gaming centre, but an announcement is expected soon.

Harrah's, whose floating Grand Biloxi Casino was destroyed in Hurricane Katrina, mentioned the project during a conference call on Gulf Coast redevelopment.

Gary Loveman, Harrah's CEO, told other conference participants that his company "will announce relatively soon a new project" near their existing Biloxi facility.

Gaming analyst Dennis M Farrell Jr of Wachovia Capital Markets told the local Sun Herald that gaming operators "must see some upside in the market".

Mr Farrell said that many "people were believing they were not going to come back to Biloxi and build" after Katrina.

Loveman's announcement shows, however, that "they are committed to coming back to Biloxi and building shows they believe there is a substantial upside in the Biloxi market", according to Farrell.

Hurricane Katrina struck in 2005 and destroyed all twelve floating casinos then located on the Gulf Coast.

Reconstruction work has been continuing slowly and it is hoped that gamers may once again travel from afar to try their luck in the Gulf Coast's renewed gaming scene.



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