10 July 2008

Meeting market slow to recover in hurricane-damaged Gulf

Gaming revenues are up in the hurricane-damaged Mississippi Gulf Coast and there are signs that the convention business may also be on the mend.

Last year, gross gaming revenues exceeded pre-storm levels for the first time since Hurricane Katrina tore through the region in August of 2005.

ââ¬ÅâœThe success of 2007 is attributed to the Gulf Coast rebounding after Katrina,ââ¬~ said Larry Gregory, executive director of the Mississippi Gaming Commission. Last year, gaming revenues had a 43% increase to $1.3 billion.

The convention business, however, has been slower to rebound.

Pre-storm, the area had 17,000 hotel rooms; now it has 11,000 said Meetings and Conventions.

But 400,000 square feet of meeting space should come online in the next few years, say tourism officials. Much of that will come from the $1 billion, 800-room Margaritaville Casino & Resort now under construction and due to open in 2010.

Report by David Wilkening

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