Harrah's Tunica Casino To Close In Mississippi This JuneCaesars Entertainment Property For Sale With No Buyers |
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On Wednesday, Caesars Entertainment announced that it would close Harrah’s Casino in Tunica, Mississippi on June 2, citing a persistent decline in business and an increase in competition.
“After exploring every other viable alternative, we have come to the difficult but necessary conclusion to close Harrah’s Tunica in an effort to appropriately position our business for the current market opportunity and ensure the long-term viability of our remaining operations in the vicinity,” said John Payne, President of Central Markets and Partnership Development.
The company is actively shopping the casino but has not yet found any buyers. The 1,360-room resort was by far the largest of the three properties Caesars operates in Tunica. The other properties are the 510-room Horseshoe Casino Tunica and 130-room Tunica Roadhouse.
Harrah’s currently employs 1,300 people and although the company has vowed to try and reassign them, many will have to relocate or look elsewhere for jobs.
The casino features a World Series of Poker branded poker room, over 1,300 slot machines and 70 table games.
The Tunica gaming market has taken a significant hit over the last five years and gambling revenue is down more than 25 percent since 2008 from $1.1 billion to just $826 million. Overall, the state of Mississippi’s 30 casinos brought in $2.251 billion in 2012, the majority of which came from casinos located along the coast in Gulfport and Biloxi.
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