Page 6 - MGHA Annual Report, 2021

UMUSIC Broadwater Hotel and Casino
Dakia Global U-Ventures and Universal Music Group announced a $1.2 billion resort to be built in Biloxi starting in 2021, with a target opening in 2023. The planned resort would have 1,150 hotel rooms, a 12,000-seat entertainment venue and an 18-hole golf course.
Multi-State Draw Debut
Following the successful launch of the Mississippi Lottery in November 2019, the rst multi-state draw games went on sale Jan. 30, 2020, in Mississippi, with both Powerball and Mega Millions being available for purchase.
Lottery Success
After selling the rst scratch-off tickets Thanksgiving weekend 2019, the Mississippi Lottery transferred more than $70 million to the state treasury by the end of the scal year, July 1, 2020. The authorizing statute requires that the rst $80 million in every scal year will go to the State Highway Fund, but any amounts beyond $80 million will go to the Education Enhancement Fund. It is anticipated that lottery revenue will fund the Education Enhancement Fund in 2021 for the rst time.
Eldorado Completes Purchase of Caesars
Eldorado Resorts completed the purchase of Caesars Entertainment on July 20, 2020, creating the largest gaming company in America. The merger was a $17.3 billion cash and stock deal. Following the transaction, Eldorado (now named Caesars) has four casinos in Mississippi — Harrah’s Gulf Coast in Biloxi, Horseshoe Casino in Tunica, Trop Casino in Greenville and Isle of Capri in Lula. Eldorado had also owned Lady Luck in Vicksburg, but the property was purchased by Twin River Worldwide Holdings in July and renamed Casino Vicksburg. In November 2020, Twin River, which in Mississippi also owns Hard Rock Biloxi, became Bally’s Corporation.
Scarlet Pearl Renovations
Amid coronavirus-related concerns and closings, Scarlet Pearl Casino Resort proceeded with its planned $30 million upgrade, most recently opening the Orchid Room, a high- limit gaming area.
Gross Gaming Revenue
While casino properties in the state were shut down for a signi cant time in the spring due to COVID-19, the reopenings in time for Memorial Day weekend led to
an extremely strong recovery in gross gaming revenue, with July and August reporting more than 5% increases over a similar time frame in 2019. Overall, the pandemic continues to prove challenging to the Mississippi gaming market.
Intense Hurricane Season
While the pandemic was challenging enough, 2020 brought one of the most active hurricane seasons on record,
and the Mississippi gaming industry was not immune. Hurricane Zeta alone caused $50 million in damage to Gulf Coast casinos, in addition to the loss of gross gaming revenue during closures caused by the storm.
Mobile Sports Wagering
In December 2020, the Mississippi Senate Gaming Committee held hearings on the possibility of statewide mobile sports betting being made legal in the state. Will 2021 be the year?
Celebrating the opening of the new Orchid Room at Scarlet Pearl Casino Resort in D’Iberville with two hostesses are Scarlet Pearl CEO LuAnn Pappas and Mississippi Gaming Commission Executive Director Allen Godfrey.
MILESTONES
STATE
OF THE INDUSTRY
& HIGHLIGHTS 2020