Coast casino fined for shortage of cash

Casino_rouletter_wheel RGBThe last problem you would expect from a casino would be for it to be short on cash, but that’s exactly what happened to Jimmy Buffet’s Margaritaville Casino and Restaurant in Biloxi — and it will pay for it.

The Mississippi Gaming Commission fined Margaritaville $10,000 during today’s monthly commission meeting because wasn’t keeping enough cash on site to bankroll patron winnings and casino bills. Additional fines of $5,000 per month can be imposed if the problem is not corrected.

“They failed to meet it (the minimum amount),”  Gaming Commission Executive Director Allen Godfrey told the Biloxi Sun-Herald.Margaritaville agreed with the process, said Lou Frascogna, special assistant attorney general and general counsel for the Mississippi Gaming Commission. The amount of money required was not disclosed, and Frascogna said no details of the casino’s finances would be made public.

This month’s meeting, normally held at the commission office in Jackson, was held at the Palace Casino in Biloxi.