Page 6 - MGHA Annual Report, 2024

We took a deep dive into Mississippi’s milestones throughout 2023 and have listed highlights below.
Striking Gold
On Feb. 16, 2023, CNE Gaming Holdings, LLC, officially acquired the ownership and operation of the Gold Strike Casino Resort in Tunica, Mississippi. CNE Gaming Holdings is an affiliate of the Cherokee Nation. This marks the first time in Mississippi history that a Native American tribe has owned a commercial gaming facility licensed by the Mississippi Gaming Commission.
Taking a Study Break
After years of failing to adopt a mobile sports betting bill, in 2023 the Mississippi Legislature adopted, and Gov. Tate Reeves signed into law, a bill forming a Mobile-Online Sports Betting Task Force to “undertake a comprehensive analysis” of the issue. After meeting several times during the year, the Task Force issued its report on Dec. 15, 2023. House Gaming Committee Chairman Casey Eure has vowed to introduce legislation authorizing mobile sports wagering in the 2024 session of the Legislature.
Hackers Roll the Dice
The parent companies of Beau Rivage (MGM Resorts) and Harrah’s Gulf Coast (Caesars Entertainment) both suffered computer hacks by criminals seeking ransom payments to restore the company computer systems. Caesars paid the ransom and was back up and running shortly thereafter, whereas MGM elected not to pay any monies to the hackers and spent weeks trying to restore its systems to smooth operations.
Top Ten
In a USA Today readers’ poll, two Mississippi Gulf Coast casinos ranked in the top 10 casino hotel resorts in the United States. Beau Rivage Resort & Casino ranked third on the list, and Harrah’s Gulf Coast ranked seventh. This followed IP Casino Resort Spa’s selection to the list in 2020, 2021, and 2022.
And the World’s Gonna Know Your Name
At a dinner in Biloxi, the Mississippi Gaming and Hospitality Association honored its 2023 class of the Mississippi Gaming Hall of Fame. Inducted were former Gov. Haley Barbour, former House of Representatives Gaming Committee Chairman Bobby Moak, Peoples Bank Chairman Chevis Swetman, and the Engelstad Family Foundation. All were instrumental in reviving the Mississippi Gulf Coast gaming industry following the devastation wrought by Hurricane Katrina.
A Billion Here, and a Billion There; Soon You’re Talking About Real Money
For the third year in a row, gross gaming revenues in Mississippi exceeded $2.5 billion. Gross gaming revenues for 2023 easily bested the numbers for the COVID 19-impacted year of 2020 and even the pre-COVID 19 years of 2017, 2018, and 2019.
Sad Times
In 2023, the Mississippi gaming industry said goodbye to Mississippi Gaming Commission Chairman Al Hopkins, who passed away in February, and Commissioner Tom Gresham, who elected to resign from the Commission due to family and other commitments. Due to the vacancies, Gov. Reeves appointed Commissioner Franc Lee of Jackson as chairman of the Commission and Kent Nicaud from the Gulf Coast as a commissioner. A third Commission seat remains unfilled.
Keeping Up with the Joneses
Call them renovations, refreshes, or whatever term you like to use, but many casino properties upgraded their facilities in 2023. Golden Nugget Biloxi spent $1 million on a new sportsbook, and Beau Rivage invested millions on the refurbishment of its buffet. Other new casino amenities include a new Guy Fieri restaurant at Horseshoe Tunica, a new restaurant and a larger sportsbook at the Bok Homa Casino, and the remodeling of the Dancing Rabbit Golf Clubhouse and Dancing Rabbit Inn.
New Things
New gaming developments became part of the discussion in 2023. South Beach Casino got the go-ahead for its Hancock County site west of Waveland; RW Development sought (once again) and received from the Mississippi Gaming Commission approval of its controversial site adjacent to the Biloxi sand beach; and the Mississippi Band of Choctaw Indians began construction of a travel plaza, including a sportsbook and 150 gaming devices near Louisville, Mississippi.
Betting on Bama?
In 2023, serious indications emerged from Alabama political leaders concerning the introduction and perhaps passage in the 2024 legislative session of some form of comprehensive gaming legislation. The speaker of the Alabama House of Representatives has said he believes a gaming bill will pass this upcoming session. Others speak in terms of a narrower bill to crack down on illegal gaming. Will a gaming bill in Alabama happen in 2024, and what will it look like? Mississippi’s gaming industry and government leaders will follow this closely.
Jones Walker LLP’s gaming law practice, the largest in the southeastern United States, provides full-spectrum legal counsel to clients on gaming law. They represent all participants in the industry, including casinos, tribes, product manufacturers and suppliers, pari-mutuels, lottery vendors, sweepstakes and charities. They also represent other parties — such as investors, lenders and vendors — that have gaming-related interests. Visit joneswalker.com for more information.
MILESTONES
& HIGHLIGHTS 2023
6.
STATE
OF THE INDUSTRY ANNUAL REPORT