The Gaming Summit in Biloxi may have drawn to a close yesterday but Mississippi remains welcoming to the gaming industry. According to Don H Barden, owner of casinos in Mississippi, Nevada, Colorado and Indiana, the state’s policy of maintaining low and reliable tax rates ensures that casino investment continues. Latest projects include the $235 million Hard Rock Casino & Hotel, due to be completed by the autumn, an Isle of Capri barge development which is even larger, and the $50 million Silver Slipper Gambling Hall and Saloon.

Gaming in Mississippi provides nearly 30,000 jobs, and the Hard Rock and Silver Slipper projects will add at least 2,100 more. Mississippi was named alongside Nevada and New Jersey as the three most gaming-friendly states in America, and only Nevada and New Jersey have more people employed in the gaming industry. The state has 29 dockside casinos.

In contrast, Missouri is debating putting a $500 cap on player losses. Iowa took that route several years previously, but abandoned the measure in 1994 after casino closures. Michigan put up casino taxes by 33% last year and was faced with possible withdrawal by major casino companies. In Mississippi’s 29 casinos 2004 revenues were $2.781 billion compared to Missouri’s $1.473 billion from 11 riverboat casinos. However, gaming tax revenues told another story. Missouri benefited by $333.01 million from an 8% tax while Missouri made $403.13 million for the state coffers from a 20% tax and casino admission fees.

No wonder, then, that gaming operators are happy to do business in Mississippi and that investment there continues with the knowledge that the state will not be seeking higher taxes to fill budget deficits, as happens in many other states. Economic growth in gaming-friendly Mississippi is boosted by its billion dollar casino industry. (E-05.06.05)

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