Katrina and the Gulf States Casino Industry

Douglas M Walker 1  and John D Jackson 2
  • 1 College of Charleston
  • 2 Auburn University

Hurricane Katrina devastated the Louisiana and Mississippi Gulf Coast. The casino industry, especially in Mississippi, suffered staggering losses. We describe the industry’s losses and provide data on the industry before and after Katrina. Following previous research which has indicated that casino development may be a stimulus to a state’s economy, we use a simple OLS model to examine whether rebuilding the Gulf Coast casinos has had an impact on personal income in Louisiana and Mississippi. After accounting for other factors, our results indicate that the casino industry has had a positive impact on post-Katrina personal incomes in Louisiana and Mississippi.

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The Journal of Business Valuation and Economic Loss Analysis (JBVELA) is a refereed academic journal with the mission to improve the practice of business valuation, economic loss analysis, and risk management by helping to inform academics, practitioners and attorneys about theoretical and practical developments in these fields.