Caesars Entertainment recently announced it will close the casino at its Tunica Roadhouse in Mississippi by January 31, although the hotel will remain open. Caesars officials said most of the 375 Roadhouse casino employees will be reassigned to the company’s Horseshoe Casino & Hotel located next door, but 125 will lose their jobs.
According to the Mississippi Department of Revenue, annual gross gaming revenue at casinos in Mississippi River counties have been steadily dropping, from $1.66 billion in 2006 to $885 million in 2017. Tunica Convention and Visitors Bureau President and Chief Executive Officer Webster Franklin said revenue at the area’s casinos is down about half from previous levels. He partially blames competition from other parts of the U.S. “So the last 25 years we’ve seen tremendous growth. We’ve gone from cotton fields to a thriving destination that is welcoming millions of people each and every year. The model has gone from destination gaming, which we were set up to be, to convenience gaming. The question is now what do we do to sustain that industry and the health of the industry?” Franklin commented.
He added, “I’m hopeful Caesars and their executives will get together and look for alternatives. I’m not sure what that might be, but I think there are plenty. Anybody needs to diversify to survive.” He said Mississippi State University is conducting a study of the Tunica gaming industry, which currently offers eight casinos, and will make recommendations sometime next year.
Also, Franklin noted sports betting is underway in Mississippi now and a state lottery is coming along. He said sports betting has helped the Tunica market by bringing in more—and younger—players. “It’s hard to say if a state lottery plays into the closure as we haven’t seen conclusive data that one meaningfully cannibalizes the other over the long run,” he said.
Tunica Chamber of Commerce Executive Vice President Charles Finkley Jr. said gaming will continue to be vital to Tunica well into the future. “I see it always being a part of the economy, even with the casinos they’re building Arkansas. State legislation is allowing us to be competitive and we’re going to work to remain competitive in the gaming industry. We’re optimistic.”
