Mississippi
Land-Based Casino Plans Approved
As reported by the Biloxi Sun
Herald: "The Mississippi Gaming Commission
on Thursday approved site plans for what will
be Gulfport's first land-based casino and granted
time extensions to two other casino projects.
"Boomtown
Casino and Bacaran Bay Casino, both in Biloxi,
now have until Jan. 2 to proceed with their
site plans. The commission also gave the Silver
Slipper in Hancock County the go-ahead to issue
stock.
"The
requests were made by the casino companies because
of issues related to Hurricane Katrina. The
storm interrupted design planning and increased
construction costs, and has made some building
materials scarce.
"…Marlin
Torguson, chief executive officer of Torguson
Gaming Group, said he estimated that the cost
to build Bacaran Bay has increased from $500
million to $560 million because of the hurricane.
Discussions are going well with bankers, he
said, noting that he could come back to the
commission in April or May for permission to
proceed with construction…"
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