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Tag Archives: gambling

Diamondhead-Phoenix purchase agreement expires

DIAMONDHEAD — Diamondhead Casino Corporation letter of intent to sell a part of its site on the Mississippi Gulf Coast has expired. Diamondhead Casino entered into a letter of intent Dec. 10, 2010, to sell 25 acres of its Diamondhead property to Phoenix Gaming and Entertainment, LLC, to be used, in part, for the construction of a casino. The agreement ...

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Margaritaville to get special hearing in front of Commission

BILOXI — Plans for Jimmy Buffett’s Margaritaville Casino & Restaurant will go before the Mississippi Gaming Commission during a special meeting yesterday in Biloxi. Developers, including singer-songwriter Jimmy Buffett and Coast casino veteran Tom Brosig, are asking the Gaming Commission to approve the design and financing for a casino resort on Back Bay. They also are seeking approval to proceed ...

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Court sides with Gaming Commission over machines

WEST POINT — Two West Point men have lost their attempt to get computer equipment taken from their business returned by the state. WTVA-TV reports that the Mississippi Gaming Commission removed the machines from Paradise Isle Internet Cafe in 2007. Authorities say the 39 computers were nothing more than slot machines being used to reward customers who bought phone cards. ...

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Majestic Star's reorganization plan approved

TUNICA — The Majestic Star Casino, LLC, and certain of its subsidiaries and affiliates have received confirmation of its second amended joint plan of reorganization from the United States Bankruptcy Court for the District of Delaware. The company said the court’s ruling and entry of a confirmation order following a hearing held on March 10 allows Majestic Star, which owns ...

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Casino workers' oil spill claims to be processed

MISSISSIPPI GULF COAST — The group charged with administrating BP’s $20 billion Gulf oil spill fund says it will start processing claims from casino workers this week. Kenneth Feinberg, the Washington lawyer who oversees the fund, said last Friday through a spokeswoman that the Gulf Coast Claims Facility will begin processing 2,500 claims this week. The workers will have to ...

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Ameristar Casinos buying back founder's shares

VICKSBURG — Ameristar Casinos Inc. is buying back approximately 26.2 million shares of its common stock from the estate of founder and former chairman and CEO Craig H. Neilsen for about $457.6 million. Neilsen died in Nov. 2006. The casino operator said that the stock included in the buyback represents about 45 percent of its outstanding stock and approximately 83 ...

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State's casinos raked in more winnings

ACROSS MISSISSIPPI — Mississippi’s state-licensed casinos won $189.8 million from players in January, down only $3 million from January 2010. The figures were reported Friday by the Mississippi Department of Revenue. “Win” is a gross figure, with no operating costs or other expenses deducted. It is casino revenue only and doesn’t include hotel, restaurant or bar revenues generated by the ...

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City council gives quick OK to Margaritaville Casino

BILOXI — The Biloxi City Council didn’t want to wait another week to advance plans for Jimmy Buffet’s Margaritaville Casino & Restaurant Biloxi. The first reading of the proposal came during the 1:30 p.m. meeting yesterday, and once that adjourned, the council opened a special meeting and approved the plan. The design calls for a seaplane hanging from the ceiling ...

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Diamondhead Casino extends LOI with Phoenix

DIAMONDHEAD — Diamondhead Casino Corporation (DCC) has agreed to extend a letter of intent entered into with Phoenix Gaming and Entertainment, LLC, for 60 days. DCC owns, through its wholly-owned subsidiary, Mississippi Gaming Corporation, approximately 404 acres of land in Diamondhead on the Mississippi Gulf Coast. The property fronts Interstate 10 for approximately two miles and the Bay of St. ...

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Moak: No new taxes for state's casinos

JACKSON — The chairman of the Mississippi House Gaming Committee said Monday he expects no serious effort by lawmakers to increase casino taxes in Mississippi this year. Rep. Bobby Moak, D-Bogue Chitto, said if casino companies are deciding where to develop new projects, a change in tax rates could make Mississippi less competitive. Casinos pay 8 percent to the state ...

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