The developers of a proposed harbor casino don’t want to pay their full rent of $80,000 a month.
The Sun Herald reports Mississippi Coast Entertainment LP will request a rent reduction to $40,000 for August and September. Steve Hendrix, attorney for property owner Gulfport Redevelopment Commission, says the city council is expected to consider the request Tuesday.
Virginia attorney Robert Lubin and his partner began paying rent in June. If the reduction is granted, Coast Entertainment would essentially skip its September rental payment after paying the full $80,000 for August.
Lubin said Coast Entertainment needs the reduction because financing for the casino is taking longer than anticipated. The developer plans a minimum investment of $140 million for a small casino and 300-room hotel.
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