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As Hurricane Katrina reminded us, life is a gamble along the Mississippi Gulf Coast.

Now, the area is betting that high-rollers will resurrect tourism, generate much-needed revenue and employment, and provide impetus for future growth.

Even as tens of thousands of residents remain in trailers or other temporary homes, roulette wheels are back to spinning, and dice are rolling.

“The potential is higher than ever,” insists Stephen Richer, executive director of the Mississippi Gulf Coast Convention & Visitors Bureau in Biloxi, Miss. “Before Katrina, we were looking at $3 billion to $6 billion in new development projects. Now, it’s $20 billion to $30 billion.”

Already there is progress.

Biloxi’s 1,750-room Beau Rivage Resort & Casino reopened on Aug. 29–the one-year anniversary of Katrina’s assault. Glitzier than ever, the 32-story resort overlooks the Mississippi Sound and offers multiple restaurants, entertainment and a spa. It’s the coast’s largest employer with a 3,800-person staff.

Seven other casinos–all but one with overnight accommodations–have reopened between Biloxi and Bay St. Louis. The number of resorts could approach 20 by the end of this decade, according to projections.

The guest-room inventory, which went from 17,500 to zero in the blink of a hurricane eye, has rebounded to about 10,000, the vast majority attached to casinos.

As alternatives to slot machines and tables, almost 20 golf courses are open. Shrimping and fishing charters abound. Most of the 26-mile beach is ideal for sunbathing, though signs warn against entering the water because of continued concern about hurricane debris. Excursions again operate to Ship Island, part of Gulf Islands National Seashore and a favorite retreat for nature-lovers and surfers.

But casinos are at the forefront of the current renaissance with state law now allowing gaming as far as 800 feet from “the mean high tide.” (Before Katrina gambling parlors were required to be over water.)

The Beau Rivage, whose structure was flooded from the storm, is a notable exception in resuming gaming over water. The area’s largest resort may soon have strong competition.

Proposed development includes two $1 billion complexes, one with two casinos and more than 5,000 hotel and condominium accommodations. Another project would include an amusement park.

If everything on the drawing board comes to fruition, Biloxi may surpass Atlantic City, N.J., as the nation’s second-biggest gaming destination after Las Vegas.

“At the moment, we are significantly a gaming destination, but we want to also be a family destination,” Richer says. “We want to attract conventions. We want to be known for our spas, our dining, for good entertainment.”

What you’ll find on the Mississippi Gulf Coast

– Casino resorts: Eight establishments have reopened, including the 1,750-room Beau Rivage, the coast’s crown jewel.

– Shrimping and fishing: More than 50 charter operators have resumed business.

– Golfing: Almost 20 courses are open; new development is ongoing.

– White-sand beaches: These are in excellent condition along much of the coast.

– Dining: Long-popular Vrazel’s in Gulfport and Mary Mahoney’s in Biloxi have rebuilt near the water, but most other eateries were destroyed or have moved inland.

– A friendly welcome: Residents need tourism and likely will greet you with a smile. [HOUSTON CHRONICLE].

What’s missing

– History and culture: Katrina decimated more than 600 landmarks listed on the National Register of Historic Places.

– Shopping: Only a few antiques shops in Bay St. Louis’ Old Town have reopened. Other downtowns are a shell of their former existence. Some stores have reopened in Edgewater Mall between Biloxi and Gulfport.

– Swimming: Hurricane debris remains a concern in the Mississippi Sound. Resort pools are a good alternative.

– Kid-friendly attractions: In Gulfport, the Lynn Meadows Discovery Center is open, and Gulf Islands Water Park has limited hours this month, but you’ll no longer find amusements on the beach such as miniature golf and dancing porpoises.

– Tradition: From a po-boy shack in Pass Christian to “Christmas Card Lane” in Waveland, many favorites have disappeared.

– Continuity: You’ll witness blocks of empty spaces, but you’ll also see brand-new condominiums. [HOUSTON CHRONICLE].