August Revenue Drops
Baffle Mississippi Casino Officials
- TUNICA, MS - /Sun Hearld/ - Casino officials and analysts
are baffled by Mississippi’s August revenue figures,
which indicate double-digit declines from July’s
record winnings and from last August. "I’m shocked
by the size of the drop," says Brian Richard, senior
research analyst with the Mississippi Gaming Association.
Winnings at the 29 state-regulated casinos were $213 million,
the worst August since 1998. The Coast's 12 casinos reported
a 9 percent drop in revenue from August 2001. Statewide,
revenue fell by 10 percent. In comparison, Louisiana's
state-licensed casinos reported a 2.4 increase in winnings
over the same time. Richard speculated the drop might
have been caused by a casino incorrectly reporting its
winnings. Casinos submit their gambling revenue figures
to the State Tax Commission, which compiles the numbers
and releases a report every month. Rich Westfall, senior
director of marketing for the Isle of Capri, said the
Biloxi resort saw about a 7 percent increase in revenue
and gamblers during August. Westfall said the numbers
indicate that the Coast casino market hasn't been affected
by the Rebel flag controversy. "It seems like our
casinos in the rest of the state are holding steady or
increasing," he said. "I can't figure out what
caused this change."
Park Place Proposes
London Casino
- LONDON - Park Place Entertainment, the world's most
powerful gambling organisation and owner of Caesars Palace,
is in talks to open a huge casino at the controversial
Millennium Dome site in south London.
Senior
officials from Park Place flew into London last month.
They were led by Peter George, once chief executive of
the British hotels-to-betting combine Hilton Group, now
head of Park Place's international division.
George
met Anschutz Entertainment Group, which, together with
property firm Quintain and Australian retail developer
Lend Lease, this year won a 999-year lease on the Dome
and surrounding land. It is understood that Anschutz is
keen for Park Place to run a casino to complement its
plans for a massive hotel, sports and concert venue.
Park
Place's interest in the Dome depends on government plans
to liberalise restrictive gambling laws. Legislation is
expected in the 2003 Queen's Speech.
