Golden Nugget plans $150M in renovations once Isle acquisition is finalized
by Associated Press
Published: March 6,2012
BILOXI — The chairman of the Golden Nugget says his company plans to invest $150 million in renovations when the sale of Isle Casino Biloxi is finalized this summer.
Tilman Fertitta tells The Sun Herald every square foot of the casino will be touched.
Fertitta said the jobs of the 750 Isle employees are safe and another 600 jobs likely will be added when the renovations are done.
The artist rendering of the renovated resort shows the H2O Resort Pool and Lounge with four-season hot tubs and fire pits in what is now a parking lot. A new building will connect the casino and parking garage where now there is an enclosed pedestrian bridge.
Isle of Capri Casinos Inc. has entered into a definitive purchase agreement with Golden Nugget Biloxi Inc., a wholly owned subsidiary of Landry’s Inc., to sell its Isle Casino Hotel in Biloxi.
Under the terms of the agreement, Golden Nugget Biloxi has agreed to pay Isle of Capri Casinos approximately $45 million. The transaction is subject to regulatory approval and other customary closing conditions.
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