Councilmen vote to lease land for proposed Oyster Bay Casino
by Associated Press
Published: April 4,2012
Tags: casinos, Conventions, entertainment, gambling, gaming, hospitality, hotels, lease, lodging, meetings, municipal government, real estate, restaurants, tourism, tourists, visitors
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.
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