Insurance coverage for coastal casinos, whose claim paymentsafter Hurricane Katrina are helping them stage resurgence, will behigh priced and hard to come by, according to a broker.
In a report issued by Standard & Poor's today, the NewYork-based rating service said the casino industry is poised for astrong comeback in Mississippi, with most of the state's casinosreadying to reopen by the end of this year and more gaminginterests looking to take root in the state.
The state's gaming industry was centered in Biloxi, with twocasinos in Gulfport and one in Bay St. Louis, employing 16,000workers. S&P said there are only three casinos in operationtoday, employing 4,600 people but generating 55 percent of revenuesthe 12 did before Katrina. The industry generated $1.2 billion ingaming revenue before the hurricane.
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