Home » NEWS » Gaming » Councilmen vote to lease land for proposed Oyster Bay Casino

Councilmen vote to lease land for proposed Oyster Bay Casino

D’IBERVILLE — The city of D’Iberville will share in the profits of Oyster Bay Casino if the resort is built.

The city council yesterday agreed to lease the waterfront land on the Back Bay near the Jackson County line.

City Manager Michael Janus told The Sun Herald the city’s parcel is needed to make the property a legal casino site because it touches the water at the mean high tide line.

City attorney Fred Hornsby III said once a casino is built, the lease on the land is $150,000 a year, increasing by $50,000 every 10 years. The city also will collect 2 percent of gross casino revenue from $15 million to $25 million and 1 percent for winnings more than $25 million.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*