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Louisiana Casino Industry Recovering from Katrina

Tuesday, November 07, 2006

NEW ORLEANS, Louisiana – As reported by the New Orleans City Business: "Harrah's New Orleans Casino general manager Jim Hoskins points to a pile of suitcases stacked next to a $1 slot machine

as another sign of recovery in New Orleans. It also marks the gambling industry's recovery more than a year after Hurricane Katrina.

"…September revenues at New Orleans' three area casinos have all increased compared with September 2004:

"-At Boomtown Casino in Harvey revenue rose to $15.2 million, 73.1 percent above its September 2004 earnings of $8.8 million.

"- Harrah's revenue is up 30 percent to $33 million compared with $25.4 million in September 2004.

"-Revenue at Treasure Chest Casino in Kenner increased 17.1 percent to $10 million from $8.6 million in 2004.

"…In September 2005, Katrina temporarily shut down all three establishments. Boomtown was the first to reopen Sept. 30.

"The three casinos took in a combined $58.4 million in September, down from $59.3 million in August.

"Statewide, gamblers lost $209.1 million at Louisiana's state-licensed casinos, off from $209.5 million in August…"

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