Hurricane to Hurt Casinos

29 Aug 2005

NEW YORK – As reported by Reuters: "Hurricane Katrina may cause casinos in the affected areas to lose millions of dollars each day they are closed, analysts said Monday.

"Casinos on the Gulf Coast and in New Orleans were ordered to shut down on Sunday, as the hurricane approached landfall. Harrah's Entertainment has the highest exposure in the affected region, with nine casinos there.

"…Deutsche Bank analyst Marc Falcone expects Harrah's to lose $1.8 million to $2.5 million in revenue for each day its casinos in the area remain closed. He expects them to stay closed into Tuesday and "potentially beyond."

"…Falcone also expects MGM Mirage, which has two casinos in Mississippi, to lose $700 thousand to $1.1 million in revenue each day the casinos remain closed.

"He also expects big daily losses at Pinnacle Entertainment, Boyd Gaming and Isle of Capri Casinos…"

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue Related Links Louisiana Online Gambling
	Hurricane to Hurt Casinos 29 Aug 2005 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> NEW YORK – As reported by Reuters: "Hurricane Katrina may cause casinos in the affected areas to lose millions of dollars each day they are closed, analysts said Monday. "Casinos on the Gulf Coast and in New Orleans were ordered to shut down on Sunday, as the hurricane approached landfall. Harrah's Entertainment has the highest exposure in the affected region, with nine casinos there. "…Deutsche Bank analyst Marc Falcone expects Harrah's to lose $1.8 million to $2.5 million in revenue for each day its casinos in the area remain closed. He expects them to stay closed into Tuesday and "potentially beyond." "…Falcone also expects MGM Mirage, which has two casinos in Mississippi, to lose $700 thousand to $1.1 million in revenue each day the casinos remain closed. "He also expects big daily losses at Pinnacle Entertainment, Boyd Gaming and Isle of Capri Casinos…"

Related Links

Hurricane to Hurt Casinos