Jun 27, 2019 The Tunica Flea Market will be this Saturday, July 21 from 9am until 4pm at the Tunica Outlet Mall on Hwy 61. Vendors booths are available for only $20 on the inside or outside booths are $10. Vendors can show up anytime after 7am and pay for their booth the day of the flea market. Van Heusen at Casino Outlets - Tunica Resorts, address: 13118 U S Highway 61 North, Robinsonville, Mississippi - MS 38664. Van Heusen store locator and map, gps. Phone number, hours.
| 1st Jackpot Casino Tunica | |
|---|---|
| Location | Tunica Resorts, Mississippi |
| Address | 1450 Jackpot Blvd, Robinsonville, MS 38664 |
| Opening date | 1995; 25 years ago |
| Total gaming space | 46,535 sq ft (4,323.2 m2) |
| Casino type | Land-based |
| Owner | Gaming & Leisure Properties |
| Operating license holder | Penn National Gaming |
| Previous names | Bally’s |
| Website | 1stjackpot.com |
1st Jackpot Casino Tunica (formerly Bally's) is a casino and former hotel in Tunica Resorts, Mississippi. It is owned by Gaming & Leisure Properties and operated by Penn National Gaming. The casino has 46,535 square feet (4,323.2 m2) of gaming space, with 899 slot machines and 16 table games.[1]
History[edit]
Bally's Saloon & Gambling Hall was originally opened on December 6, 1993 at Mhoon Landing by Bally Manufacturing.[2][3]
In 1994, Lady Luck Gaming opened its Olympia Hotel in Robinsonville, an area 10 miles north of Mhoon Landing which had emerged as a prime casino site because of its closer proximity to Memphis.[4] Lady Luck began construction of a casino to accompany the hotel, but suspended it later that year because of financial difficulties.[5]
In February 1995, Bally and Lady Luck entered into a joint venture agreement, under which Bally would close its casino and move the barge upriver to dock at Lady Luck's hotel.[4] Bally would own 58 percent of the combined venture and manage it, with Lady Luck and a local partner owning the rest.[4][6] Bally's at Mhoon Landing closed on February 9.[4] The casino reopened at its new location in Robinsonville (now Tunica Resorts) on December 18, 1995.[7]
Hilton Hotels acquired Bally in 1996 and then purchased Lady Luck's share of Bally's Tunica in 1997 for $15 million.[8] Hilton's gaming division, including Bally's, was spun off in 1998 as Park Place Entertainment, later renamed as Caesars Entertainment.
In 2004, Harrah's Entertainment agreed to purchase Caesars.[9] The deal provoked antitrust concerns in some markets, including Tunica, where the combined company would own 5 out of the 9 casinos in the area.[10] To ensure approval of the merger, Harrah's and Caesars agreed to sell four casinos, including Bally's Tunica and Harrah's Mardi Gras, to Colony Capital.[11] The sale was completed in April 2005.[12] The casino continued using the Bally's name under a licensing agreement. The two properties became part of Resorts International Holdings, a newly formed affiliate of Colony Capital.[13]
In 2011, facing a threat of foreclosure, Resorts International Holdings agreed to hand over ownership of Bally's Tunica and Resorts Tunica (formerly Harrah's) to lenders.[14] Foundation Gaming Group, a company based in Gulfport, was retained to manage the two properties.[15]
In January, 2014, RIH Acquisitions MS II assumed the management of Bally's Tunica and Resorts Tunica.
In May 2017, Bally's and Resorts Tunica were sold in a joint deal, with Gaming & Leisure Properties acquiring their real estate assets for a total of $83 million, and Penn National purchasing the operating assets for a total of $44 million.[16][17] The casino was renamed in September 2017 to 1st Jackpot Casino Tunica.[18] The hotel was later demolished.[19]
References[edit]
- ^Monthly Survey Information (Property Data)(PDF) (Report). Mississippi Gaming Commission. September 2017. Retrieved 2017-10-29.
- ^Laurel Campbell (December 7, 1993). 'Adjacent casinos open in Tunica'. The Commercial Appeal. Memphis, TN – via NewsBank.
- ^'Bally's licensed to open in Tunica'. The Commercial Appeal. Memphis, TN. AP. December 4, 1993 – via NewsBank.
- ^ abcdMichelle Hillier (February 10, 1995). 'Bally's Casino to try luck closer to Memphis'. Arkansas Democrat-Gazette. Little Rock, AR – via NewsBank.
- ^Mike Hughlett (August 26, 1994). 'Casino company halts projects in Mississippi'. The Times-Picayune. New Orleans, LA – via NewsBank.
- ^'The Ticker - Lady Luck'. Chicago Sun-Times. February 10, 1995 – via NewsBank.
- ^Michelle Hillier (December 22, 1995). 'Bally's rolls upriver, reopens casino closer to Memphis crowds'. Arkansas Democrat-Gazette. Little Rock, AR – via NewsBank.
- ^'Lady Luck sells interest in Bally's'. The Advocate. Baton Rouge, LA. AP. November 7, 1997 – via NewsBank.
- ^Suzette Parmley (July 16, 2004). 'Harrah's plans to acquire Caesars'. Philadelphia Inquirer – via NewsBank.
- ^Oliver Staley (September 1, 2004). 'Casinos to be sold in merger'. The Commercial Appeal. Memphis, TN – via NewsBank.
- ^Oliver Staley (September 28, 2004). '2 Tunica casinos are sold'. The Commercial Appeal. Memphis, TN – via NewsBank.
- ^Michelle L. Quinn (April 27, 2005). 'Few changes as Resorts takes over at E.C. casino'. Post-Tribune. Gary, IN – via NewsBank.
- ^'Company creates casino division, names COO'. Las Vegas Sun. July 11, 2005. Retrieved 2017-10-30.
- ^Wayne Parry (November 4, 2011). 'Deal keeps struggling casino out of foreclosure'. The Star-Ledger. Newark, NJ – via NewsBank.
- ^'Firms chosen to run 2 casinos'. Huntsville Times. November 19, 2011 – via NewsBank.
- ^Form 10-Q: Quarterly Report (Report). Gaming & Leisure Properties. May 3, 2017. p. 8 – via EDGAR.
- ^Form 10-Q: Quarterly Report (Report). Penn National Gaming. May 3, 2017. p. 23 – via EDGAR.
- ^'Facebook - 1st Jackpot Casino Tunica'. September 11, 2017. Retrieved 2017-10-29.
- ^https://wreg.com/2017/10/30/ballys-hotel-in-tunica-demolished/
External links[edit]
Coordinates: 34°50′44″N90°19′21″W / 34.845441°N 90.322486°W
Tunica Outlet Mall Store Listing
A Tunica outlet mall, Casino Factory Shoppes, is having trouble keeping its doors open after traffic to the mall’s casino declined in the past 5 years. Large retail businesses are dropping out of the outlet mall, while smaller businesses are moving into the complex.
Outlet Malls Near Tunica Mississippi
The story of the closure of Harrah’s Casino across the street shows the negative economic impact a casino sometimes has on a community.
In this case, the Tunica Chamber of Commerce said that the casino in the outlet mall has dropped off by 4 million visitors in the past 5 years. Harrah’s Casino Tunica once was located across the highway from Casino Factory Shoppes. When Caesars Entertainment decided to close Harrah’s Casino in 2014, it was a huge blow to the business at Casino Factory Shoppes.
Anchor Stores in the Mall Closed
In December 2016, the outlet mall took another big hit. The remaining anchor stores in the mall moved out. They are called “anchor stores” for a reason, because the bulk of the visitors to the mall go to the bigger retail stores, which drives traffic to the more targeted outlet stores in the mall.
Tameesha Burton, who runs the Chocolate Factory boutique in the mall, said, “A lot of people don’t know that there are stores even over here and when they do come through and be like I don’t even know you’re here.”
New Outlet Stores Open for Business
Mrs. Burton is representative of the new wave of business owners in the outlet mall. She opened Chocolate Factory two months ago, and hopes traffic to the outlet mall will increase over time.
To help drive business, Burton handed out business cards and fliers, to spread the word that businesses still operated at the mall. FoxNews 13 did a local interest story. Burton says of the hope that customers return over time, “I think it will [draw customers]…do you?…a lot of people that try to help out and give out my cards. We hope it does.”
Small Businesses Hope for Increased Traffic
Rod Jones, who runs the Auto Toy Store in the mall, is not quite as optimistic. Jones said that the exit of the national retail chain stores had a cascade effect on business. Those which survive in the new business environment will have to change their expectations and their business model.
Mr. Jones said, “All of the national chains are gone so now so now you’re going to second and third-generation boutiques small car lots like us small business will make up this Casino Shoppes Plaza.”
Casino Factory Shoppes
The Tunica Chamber of Commerce is dealing with tough times, too. A spokesman for the Chamber said revenues are down $20 million from where they were 8 years ago. The area’s casino industry never quite recovered from the Global Recession, the way other parts of the country have. Several factors are to blame.
Tunica County Casinos
Ten years ago, Tunica County, Mississippi was seen as the third major gaming destination in the United States, behind Las Vegas and Atlantic City. Hurricane Katrina hurt Mississippi’s Gulf Coast casino industry in city’s like Biloxi and Gulfport, but Tunica’s location at the north end of the state preserved its status.
The Global Recession hit Tunica casinos as bad or worse than most gaming destinations across the country. Mississippi has a weaker economy than most parts of America and many visitors to Tunica did not have the disposable cash to continue gaming at the land-based casinos there. Tribal casinos in nearby states also siphoned off customers, creating less of a margin for the casino operations in the county.
Harrah’s Casino Tunica’s Closure
Not all of the financial troubles were local. Harrah’s Casino Tunica, once known as the Grand Tunica Casino, was closed by Caesars Entertainment on June 2, 2014. While the casino might not have been as profitable as it once was, the closure had more to do with Caesars Entertainment’s financial instability than it did local issues. At the time, Caesars Entertainment had $23 billion in debt, due to a leveraged buyout executed in January 2008 — only months before the Global Recession hit. Caesars closed the Showboat in Atlantic City around the same time, as part of an overall downsizing.
Eventually, Caesars Entertainment’s operations division, CEOC, filed bankruptcy in January 2015. That led to a highly publicized lawsuit and bankruptcy battle which only recently was resolved.
Shopping Malls In Tunica Mississippi
It was the closure of Harrah’s Casino Tunica which caused the current troubles for Casino Factory Shoppes. Without a casino next door to draw traffic, the outlet mall began its own financial death spiral. One can hope the outlet stores still in operation can stay in business. One bit of good news is the Tunica Chamber of Commerce says the local casino industry has stabilized.