Posted on 03/28/2014 5:41:22 PM PDT by 2ndDivisionVet
Caesars Entertainment announced in a press release Wednesday that it will close Harrah's Tunica on June 2.
This is one of three casinos Harrah's operates in Tunica in northern Mississippi.
The 1,300 jobs that will be lost makes this one of the biggest layoffs ever in Mississippi, said Richard Bennett, chairman of the House Gaming Committee.
The layoffs come at a time when Tunica County had the highest unemployment in state in February at 17.3 percent.
Bennett said 75 percent of the jobs are held by Mississippi residents, with the remaining 25 percent of the employees from Tennessee and Arkansas.
"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 said it plans to collaborate with local officials to find other uses for Harrah's Tunica.
The casino will remain operational until its closure, the company said, and will help its employees in the transition.
Caesars Entertainment also owns Horseshoe Casino Tunica and Tunica Roadhouse Casino & Hotel, and Bennett said the company plans to invest in those properties.
Caesars also is investing about $40 million in the Gulf Coast market, he said, in a remodel and re-branding of Grand Biloxi into Harrah's Gulf Coast.
"They're not leaving the state. They're investing in Mississippi," he said.
And because of Global Warming.
More people freed from job lock by the great employment emancipator, Barack Obama.
I do hate that for them. This economy sucks. I’m sure my shi#@ss brother spent our family inheritance there as well.
I wonder how much state subsidy they recieved
Highest unemployment in the state? But legalized gambling does wonders for the local economy, doesn’t it?
Hey bro, this area has been hunted out.
“Highest unemployment in the state? But legalized gambling does wonders for the local economy, doesn’t it?”
I understand the sarcasm; it is part of an “entertainment economy” that briefly worked in this country when people had discretionary income, but will probably never recover (unless rich foreigners revive it). Here in NJ it did nothing but take from suckers; Atlantic City makes money from it, but it is still a toilet (while gibsmedats sit on their asses, workers are bused in from Philadelphia). In the Bahamas their own people couldn’t enter casinos (so it was all “foreign investment”); in Niagara Falls (Ontario) the gibsmedats from Buffalo swarmed across to the casinos they built there (I believe watching that money cross into Canada every day spurred NY to act on its own casinos).
Anyone earning a living in a casino better have a Plan B...
Can’t use EBT cards there anymore?
Disneyworld. Poke me in the eye with a stick. Utter hell on earth. Standing in the hot sun in line after line for hours and hours to either buy overpriced cold drinks or get on some contraption for a 90 second "ride" while horrid music plays all around you.
Then it's off to "Epcot Center" for more of the same. Except at least now, I get to do the "11 Countries" circuit in which I try to purchase an alcoholic drink from each country. I managed to collect 9 on one trip before I collapsed onto a bench and fell asleep. I think it was the Japanese sake that did me in. Or maybe it was the 90 degree temperature.
I did it for the kids. I suffered greatly but kids wanted to go to Disneyworld and so I spent thousands of dollars to make it happen.
Now kids have grow up and instead I go to Las Vegas casinos. So much more fun than Disneyland. When did anybody come off Space Mountain with a $1300 jackpot? Or sit at an oblong green-felted table for hours, with free drinks, and walk away with $80 at the end playing blackjack?
OK, so you end up losing in the long run. Everybody who goes gambling at casinos does. But sometimes you win. And the games are fun. And the food is better. And it might be 105 degrees outside but you have no idea even what time it is because they do not have clocks in casinos and it always feels like 10PM on a Saturday night.
Now that's Las Vegas. It's different at these other casinos across the country. Those are usually sad and depressing places. Little old ladies throwing their grandchildren's inheritance into slot machines one nickel at a time - or playing bingo. BINGO! I hate bingo. What a stupid game.
Old men, being grouchy, sitting at the roulette wheel putting $1 at a time on red. Sad.
Las Vegas is the only place that should have casinos. And it costs less to have a good time in Las Vegas than it does to have a horrible time at Disneyworld.
the taxi driver in Vegas was telling us a few weeks ago that the unemployment in Vegas rivals Detroit, that most of the big lavish hotels are half empty even though they'll tell you that their "booked"....all it means is that they laid off lots of staff to keep going....
people are going to spend money on casinos and movies and restaurants but maybe not as much as before...
No, it was causedd by exhuberant, irrarional expectations fueld by greed.
Two were enough. Three were one to many
wow.
Alcohol was invented to survive Epcot. I never drink to escape my problems. Epcot was the only exception. DisneyWorld is one thing. Epcot... < shudder>
The casinos in Tunica never recovered from the floods in 2011. Folks started going to the casinos in Arkansas and never came back.
lotteries and casinos are a blight on society.
Businesses aren't going to hire when they have to deal with regulations, taxes, and weaker profits, so they will hire less or close shop.
Then the cycle repeats.
Just amazed that no one can see this connection.
wonder what will up the ante?....prostitutes for the men?....
Great post. You’re a wordsmith.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.