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December 3, 2009

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Flooding hurts Indian casino profit

Thursday, Dec. 6, 2001 | 10:08 a.m.

JACKSON, Miss. -- An April flood may have hurt Silver Star Resort & Casino's yearly earnings more than the terrorist attacks in September as the state's highest-grossing casino saw a 4.2 percent revenue decrease.

The Choctaw Resort Development Enterprise reported earnings of $237.7 million for the 2001 fiscal year compared with $248.2 million for the fiscal year ended Sept. 30, 2000. The Choctaw Resort Development Enterprise operates Silver Star in Neshoba County.

Jay Dorris, president of the CRDE, said heavy rains in April caused damage at the casino and led to a decrease in gamblers.

As many as 2,110 slot machines and six table games were inactive in April for periods, ranging from several hours to several days, Dorris said.

"When there are unexpected events like we've seen in the last months, I think the strength and quality of our operations is evident," Dorris said.

Silver Star was forced to close a portion of its gaming floor, retail outlets and restaurants due to flooding. The restoration process significantly affected casino revenue for weeks, Dorris said.

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