A group of developers have big plans for site of the former Broadwater Beach Resort in Biloxi, Mississippi. Plans for a $1.1 billion casino proposal are in the works. Interestingly, a key meeting this week seeks a Mississippi tourism rebate. Furthermore, this would help to move the project forward. This request is hoping to receive approval from the Biloxi City Council.
The developers behind the project offer visions of a casino, golf course, hotel and spa. Other amenities would be part of the plan covering the 266-acre property. The city resolution backing the project involves a Mississippi Tourism Project Incentive Program. This is because plans call for a hotel as well as an indoor/outdoor entertainment center. There would also be a waterfront marina.
What Is The Of New Casino Proposal From The Former Biloxi Beach Resort?
The resolution also calls for at least $10 million in private investment to qualify for the incentive rebate. A portion of the sales tax generated by the project would go towards some of the construction costs. Right now, the property is vacant with no revenue-generating return.
The primary developer behind these plans is Broadwater Development LLP. The projected impact on the local economy in jobs alone would be significant. Estimates call for 2,557 full-time and part-time positions.
If everything goes according to plan, this would be the most expensive casino resort built in South Mississippi. The estimated cost to build the Beau Rivage Resort & Casino was close to $800 million. Moreover, this was back in 1999 with Steve Wynn as the principal partner.
The Tivoli Casino was in the works for Biloxi but the project never got off the ground. At the time, the estimated cost to build was close to $1 billion.
The site for the Broadwater Casino was first purchased by Roy Anderson III and Cotton Fore. This was before Hurricane Katrina devastated the Gulf Coast in that region of the country. Anderson is listed as a partner with Broadwater Development. The document was registered with the Mississippi Secretary of State dating back to January of 2005.
An Interesting Find: How Many Local Casinos Are There In Tunica Mississippi?
The website for Broadwater Development contains some background information on the proposed site. It states:
“For decades, the Broadwater Beach Resort was the epitome of luxuriousness, trendiness and relaxation on the Mississippi Gulf Coast. From famous actors, actresses, politicians and personalities to middle-class families. Thousands flocked from across the country to put the Broadwater’s excellent reputation to the test.”
The resort was first built back in 1939. At that time, gambling and the sale of alcohol remained illegal in the state. Yet, the property contained a 600-foot pier on the beach site. This was the site of an illicit casino.
In 1992, President Casino opened at this same site. Furthermore, this was two weeks after the Isle of Capri opened as the first legal casino in Mississippi. The floating casino cost $17 million to build. John Connelly owns this property and is a boxer and local promoter. The property has sat idle since Hurricane Katrina hit the area back in 2005.
• Source: A new $1.1 billion casino is being proposed in Biloxi From Sunherald.com On June 11, 2020.