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Harrah's Buying Up Gulf Coast

Harrah’s Entertainment has announced their intentions to solidify their holdings in the Mississippi Gulf Coast area. They are going to be purchasing quite a bit of land in order to bring in some slot machines and gambling casinos to the area. That area was greatly devastated by Hurricane Katrina when it came though last year, and the area needs a lot of help.

They have signed a letter of intent to buy Casino Magic Biloxi, located in Mississippi - from Pinnacle Entertainment. They are selling two of their own companies in Lake Charles, Louisiana to Pinnacle - a kind of switch of companies if you will. The President of Harrah’s Central Division, Anthony Sanfilippo, said, “The Company will also be reopening its Grand Casino Biloxi this summer with a redesigned 500-room hotel, 35,000 sq ft casino, and 16,000 sq ft spa.”

The interest in the area is not just from them, there are other contenders looking to get involved in the area, including Hard Rock - who is looking into land there as well.

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