If a storm or hurricane hits Biloxi, Miss., and closes area casinos, the city will have all bets covered. The city, which obtains $20 million a year or about one-third of its annual operating revenue by taxing nine casinos, has decided to buy business interruption insurance. The Biloxi City Council unanimously approved the purchase, which will cost about $100,000 a year.
The proposal to buy insurance was proposed by Mayor A.J. Holloway, who pointed out that income from the nine casinos operating in the city provide a third of its annual operating revenue.
Was this article valuable?
Here are more articles you may enjoy.
Phoenix Hit by Hail and Strong Winds, Damaging Vehicles Across Valley 
Insurer Rolls Out Policy to Protect Data Centers Against Growing Backlash 
Fisherman Killed by 12-Foot Alligator at Central Florida Lake 
Alabama Pharmacy, Not Agent, at Fault for Not Reading Policy Before $5M Judgment From This Issue
