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With limited growth opportunities within the United States for public gaming companies, Mississippi and Pennsylvania are favourites for expansion. Following the hurricane devastation along the Gulf Coast last year, Mississippi legislators were quick to act to facilitate the return of the battered casino industry as quickly as possible. People living in the area remember how things were in Mississippi before the advent of gaming brought employment and boosted the economy of the region.
The first thing legislators achieved was an alteration in the law to enable casinos to be built on land close to the shore instead of over the sea. Casino operators now aim to bring new life to the area with larger casino resorts offering more entertainment amenities. It is anticipated that what existed before the arrival of Hurricane Katrina will be surpassed by future development.
Three casinos have reopened successfully in Biloxi, contributing around 70% of the tax revenue generated by ten casinos previously. Biloxi City Council was quick to remove red tape to speed up the reopening of a fourth, the Treasure Bay Casino. At the end of last month the council rezoned the property and removed the usual waiting period for it to become effective.
The recovery of the Gulf Coast will take time; almost 17,000 jobs were lost overnight on 29 August 2005 and tax losses were around US$500,000 a day. Debris still litters the region, housing remains a problem, and it may be that the three reopened casinos are doing a roaring trade because of the influx of construction workers and the lack of alternative entertainment since Katrina. Gaming operators, however, are coming back with bigger and better projects for rebuilding, and Mississippi is putting out the welcoming flags. (E-06.08.06)
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