by MBJ Staff Published: May 2,2012
Tags: acquisition, casinos, Conventions, credit, financing, gambling, gaming, hospitality, lodging, meetings, mergers, purchase, restaurants, tourism, tourists, visitors
BAY ST. LOUIS — Las Vegas, Nev.-based Full House Resorts reports it has obtained financing commitments for new credit facilities totaling $75 million to fund the company’s acquisition of the Silver Slipper Casino. The financing will consist of a $55 million first lien credit facility and a $20 million second lien facility. Capital One N.A. [...] [...]
METCALFE — The city of Metcalfe hopes to reach a settlement with a bonding company as part of its plan to erase a tax lien imposed by the Internal Revenue Service. The Delta Democrat Times reports aldermen this past week authorized city attorney Bennie L. Richard to settle the lawsuit. The town sued former mayor [...] [...]
by Associated Press Published: March 7,2012
Tags: casinos, Conventions, entertainment, financing, gambling, gaming, hospitality, hotels, lodging, meetings, municipal government, retaurants, tourism, tourists, visitors
D’IBERVILLE — The D’Iberville City Council has approved development plans for the CanCan Casino and up to $24 million in tax-increment financing bonds to help cover costs of the infrastructure. The Sun Herald reports Chris Gouras, the city’s public finance consultant, outlined the plan and explained how the TIF work yesterday. Gouras said phase one [...] [...]
by Associated Press Published: March 6,2012
Tags: arts, commercial development, commercial property, Commercial Real Estate, community development, construction, cultural tourism, economic development, entertainment, financing, funding, Heritage, historic, histoy, loan, music, nightclubs, real estate, restaurants, tourism, tourists, visitors
JACKSON — Developers of the Farish Street Entertainment District have taken the first step toward securing money needed to finish construction on the first block of the $100 million project in downtown Jackson. Yesterday, the Jackson Redevelopment Authority approved a non-binding agreement with Farish Street Group for a $10.2 million loan. As collateral, developers would [...] [...]
by MBJ Staff Published: February 21,2012
Tags: Banks, borrowers, crdit union, credit, customers, dividends, financial, financial institutions, financing, patronage
RIDGELAND — The Southern AgCredit board of directors recently approved a patronage dividend for borrowers based on the financing cooperative’s solid 2011 earnings. Checks are being mailed to customers in mid-February. Southern AgCredit customers will receive a check for their portion of the $6.35 million cash patronage, plus a statement detailing their share of the [...] [...]
by MBJ Staff Published: February 14,2012
Tags: casinos, construction, Conventions, entertainment, financing, gambling, gaming, hospitality, hotels, lodging, meetings, restaurants, tourism, tourists, visitors
BOSSIER CITY, La. — Bossier Casino Venture, LLC (d/b/a Margaritaville Resort Casino) has closed its project financing for the Margaritaville Resort Casino to be built in Bossier City, La. Construction on the $197 million casino and hotel resort is expected to commence immediately and extend for approximately 16 months, with a targeted opening date in [...] [...]
MADISON — Fitch Ratings has placed the ratings of Old Republic International Corporation’s (ORI) and its insurance company subsidiaries, including Mississippi Valley Title Insurance Company, on “Rating Watch Negative.” Fitch reports: “The Rating Watch reflects uncertainty as to ORI’s ability to continue to avoid a covenant breach under its debt obligations in light of ongoing [...] [...]
MADISON — GBT Realty Corporation of Brentwood, Tenn., was scheduled to present the final plans and variance requests at the Jan. 9 meeting of the city of Madison’s Planning and Zoning Commission for the proposed Madison Promenade, but has deferred its request over TIF financing issues. The roughly 26-acre first phase is located in the [...] [...]
MADISON and HATTIESBURG — SECDE Ventures, LLC has closed on New Markets Tax Credit (NMTC) financing of $18 million for construction of Resinall Mississippi’s new hydrogenated hydrocarbon resin unit at its manufacturing facility in Hattiesburg. SECDE combined $12 million of its NMTC allocation with $6 million of NMTC allocation from MuniStrategies and $15 million of [...] [...]
JACKSON COUNTY — Jackson County Supervisors have adopted a tax increment financing (TIF) redevelopment plan, which allows it to begin offering incentives on major developments. The Mississippi Press reports tax increment financing is a reimbursement-based funding mechanism that uses future gains in taxes to finance infrastructure improvements on a property. The county had to adopt [...] [...]
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