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November 30, 2009

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Hurricane closes Biloxi casinos

Monday, Sept. 28, 1998 | 11:08 a.m.

The imminent approach of Hurricane Georges forced the closure of all Gulf Coast casinos Friday night, officials said.

"We are closed," said Jaye Snyder, spokeswoman for Grand Casinos, which has casinos in Biloxi and Gulfport, Miss. "The Mississippi Gaming Commission closed all 11 casinos on the Gulf Coast at 8 p.m. Friday."

Biloxi, with eight casinos, is the country's third-largest gaming community behind Las Vegas and Atlantic City.

Snyder said initial inspections of Grand's Gulf Coast casinos found no storm damage so far. Major Gulf Coast buildings are built to withstand hurricanes, she said.

"They're built to withstand pretty substantial tides as well as winds," Snyder said.

However, the casinos' temporary closure is likely to impact Grand's earnings, she said.

"We do anticipate that being closed will impact both third and fourth quarter earnings," Snyder said.

Grand is insured against business losses from a hurricane, but Snyder was unsure how extensive the insurance coverage is.

Grand's Tunica, Miss., casino, located near Memphis, Tenn., remains open, Snyder said. Grand's Gulf Coast properties are in the process of being acquired by Hilton Hotels Corp.

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