Home » NEWS » Gaming » Developers of Gulfport Harbor casino want lower rent

Developers of Gulfport Harbor casino want lower rent

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.

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 Associated Press

Leave a Reply

Your email address will not be published.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

*