Casinos.co.uk: Casino News Archive
Tuesday 23rd August 2005
Hurricane Dennis shatters Mississippi Casinos’ profits
Casinos along the Mississippi Gulf Coast have reported their worst July in seven years in the wake of Hurricane Dennis.
While buildings and homes were left unscathed by the hurricane, casinos lost profits due to the mandatory evacuation imposed on what should have been a busy weekend.
Casinos closed on a Saturday afternoon and did not reopen until the Monday morning. Total revenue for the month on the coast was US$102.3 million compared to $113.7 million in July 2004.
There are no figures available at the time of writing to confirm a surge in online casino activity due to the losses felt by bricks and mortar casinos, although they remained unaffected by the events. The global iGaming market is projected to reach a value of US$9.8 billion by the end of this year, while industry analysts predict the online poker market, with 1.8m online players worldwide, will become the first online gambling product to overtake its land-based equivalent by the start of 2006.
Source:OnlineCasinoNews
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