Caesars pulls plug on construction of unfinished casino

BILOXI — Casino operator Caesars Entertainment Corp. says it won’t continue construction of the unfinished casino on the beach in Biloxi, Miss.

The company took a $167.5 million non-cash impairment charge on the project, writing off the money spent on the casino before stopping work in 2008.

Caesars spokesman Gary Thompson tells the Sun Herald the project was halted at the start of the recession and will not be resumed.

Caesars announced the decision in its earnings report yesterday.

Thompson says one proposal is to demolish property and use the left over materials to repopulate offshore oyster beds. He says a decision is pending.

Caesars says more people visited its casinos in Mississippi and Louisiana in the first quarter of 2012 compared to 2011 but spending per trip declined slightly.

[RSS Feed] []

To sign up for Mississippi Business Daily Updates, click here.




Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Top Posts & Pages

%d bloggers like this: