Harrahs Entertainment, one of the biggest gambling companies in the world, plans to build two casinos in Biloxi, Mississippi, with total cost of 1 billion dollars. The city is recovering from hurricane Katrina, and its mayor, A.J. Holloway hopes the casinos building will improve the city economy. He believes that the city, that used to have 13 casinos before the storm, can have 15-18 casinos in the next 10 years.
Harrahs, which already operates casinos in Biloxi and Gulfport, intends to build two more casinos in Biloxi. After withdrawing from Gulfport, the company will rename the casinos. The president of Harras operations in the centre of the USA, Anthony Sanfilippo, said that the company would make a formal declaration about its plans in collaboration with Holloway, Gov. Haley Barbour and officials with the Mississippi Gaming Commission.
Other gambling companies and condominium developers, who approach Biloxi with building projects, find it unaffordable due to the land prices, the proposed requirements for buildings and the fragmented ownership of assets.