City officials want review of casino developer
NATCHEZ — The Natchez Board of Aldermen will seek an independent review of developers who proposed a new casino in the city.
Alderman Dan Dillard says the developers’ failure to submit information to be on the state Gaming Commission’s December agenda is a sign that the board needs to proceed on its own.
Dillard says he suspects developers are not prepared to finance the project. The initial design of the Roth Hill Casino was a 40,000-square-foot facility. The project was later scaled back.
The Natchez Democrat reports developers include Natchez Enterprises, Premier Gaming, or The Lane Company, the original managing company with whom the city voted to enter into business.
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December 16th, 2010 at 10:51 am
Many lenders might be reluctant to finance a casino in this economy. Many casinos might already be foreclosed if finance by FDIC insured loans instead of junk bonds where bondholders may accept lower paid interest or forgo payments to keep a casino’s doors open. Casino Lenders should consider Senator Harry Reids support for legalized national Internet Poker gambling that may pass e.g., that could put many Nevada casino/hotel employees out of work if passed by Congress. Every home in Mississippi with a computer has the potential of becoming a 24/7 computer; why spend the money to drive to and stay at or near a casino overnight-when those travel expense can be bet on your home computer?
December 16th, 2010 at 11:30 am
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