Harrah's Sees Slow Gulf Coast Gambling Recovery - Thursday 16th of February 2006

NEW ORLEANS, Louisiana As reported by Reuters: "Harrah's Entertainment Inc., the world's top gambling firm, on Monday forecast a slow recovery in its hurricane-ravaged casino business in Louisiana and Mississippi, but was confident about the long-term prospects.

"Three days before the reopening of its New Orleans casino, Harrah's Chief Executive Gary Loveman told Reuters he expected business there would be 'considerably off from where it has been.'

"...Harrah's, a major revenue earner for the cash-strapped city and Louisiana state, was dealt a heavy blow by Hurricane Katrina, which also forced it to close its Lake Charles resort in Louisiana.

"...The storm destroyed its Gulfport, Mississippi, casino, which it has since opted to sell rather than rebuild. The company says it remains committed to developing 'a first-class resort' in Biloxi, Mississippi, where its offshore casino was also destroyed by the late-August storm..."

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