Not all is lost for Casinos

The share prices of certain casinos have gone down courtesy of hurricane Katrina last week. But that does not mean that everything is looking grim for casinos overall. Instead of people gambling in Biloxi, the nation’s third-largest gaming market, they will move on over to the nation's biggest, Las Vegas. Tourists will soon start flocking to Las Vegas to get their gambling fix. Conventions will also have to be relocated to the Nevada city.

Companies that were the most affected by this natural disaster in the Gulf Coast are Harrah's Entertainment, MGM Mirage, Isle of Capri Casinos, Pinnacle Entertainment and Penn National Gaming. It has been reported that each organization might lose up to $25 million, which is almost pocket change for these high roller casino companies.

There is a silver lining for other casinos, such as Wynn Resorts and Station Casinos, who have no casinos in Mississippi. They will benefit the most from all the tourists who will be flocking to Vegas. Companies who also provide slot machines and other gaming equipment to the casinos, like WMS Industries and International Gaming Technology, will also profit from this tragedy.