The site of legendary Broadwater Beach Hotel would be reborn as a $1.2 billion entertainment complex in Biloxi if plans move forward.
Dakia Entertainment Hospitality and Broadwater Development LLP announced on Tuesday the signing of a formal letter of intent, subject to finalizing financial commitments, to redevelop the historic, former Broadwater Beach hotel, marina and golf course site into a $1.2 billion, 266-acre, world-class entertainment complex on U.S. 90 in Biloxi.
The project has a projected opening in the second quarter of 2023.
Under the terms of the agreement, Dakia Entertainment Hospitality would manage a high-profile destination hotel, music, and entertainment environments on the site.
In 2019, Dakia Entertainment Hospitality entered into a joint venture with Universal Music Group (UMG) to develop a music-focused project, which would include:
- An indoor concert event atrium with a capacity of about 12,000.
- A customized music curriculum, including classes for local and regional students with artist interactions
- An 1,150-room, full-service hotel with spa and destination amenities
- A restored Broadwater Marina.
- An 18-hole golf course and teaching academy
- 18,000 square feet of retail space.
- 125,000-square-foot casino with about 2,460 gaming positions
The development would produce about 1,000 construction jobs and employ about 2,500 upon full operation. It would generate more than $100 million in annual non-gaming, retail spending. Dakia Entertainment will seek incentives from the state and local governments.
The Innovation Group has performed a market analysis and been retained to prepare and initiate an request for proposals for gaming operator.
Biloxi Mayor Andrew “FoFo” Gilich said in a prepared statement:
“The Broadwater Beach, as it was known in the ’50s, was ‘the attraction’ that brought attention and many people to our Coast. In my opinion, it would certainly be an “understatement” to say that this project will be transformational for Biloxi, our Coast and the State of Mississippi.
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