New Mississippi Coast Casino Gets Gaming Green Light
The MS Gaming Commission on Th green-lighted a gaming evolution called South Beach Casino & Resort. The projection targets virtually IV acres of ground situated at 6081 S. Beach Blvd. in Bay St. Louis.
The licence was granted to Kirk D. Ladner of Diamondhead and Henry Kenneth Alfred Russell Elliott of Bay St. Louis. Ladner’s LinkedIn profile says he’s the president of Kirk Ladner Excavating, a Gulfport-based full general contractor. Information regarding Elliott’s professing wasn’t immediately available.
The South Beach Casino was approved to feature a 40K gaming storey with 1.1K one-armed bandit machines, 25 tabulate games, and 6 stove poker tables. That’s according to a observation of purport to hold for a gaming license, which was published by Ladner and Elliott, as lawfully required, inward a local newspaper.
South Beach Casino would live reinforced onshore, but would remain within 800 feet of the 19-year high-water product line as defined past the Magnolia State Code. After Katrina, the commonwealth allowed its riverboats to move inland so long as the young gaming structures remained within 800 feet of their original barges. New casinos must be within 800 feet of the high-water mark.
There are currently only if 2 commissioners on the state’s gaming commission, Tom Gresham and Francis Lee, both of whom voted in favor of the approval. (Kent Nicaud, CEO of Memorial Hospital at Gulfport, has been nominated past Mississippi Governor John Orley Allen Tate Reeves to consummate the vacant term left past chairman Al Hopkins, who died earliest this year.)
One Small Problem
Ladner and Elliott get yet to unafraid financing. Ladner told gaming commissioners that obtaining site favourable reception number one would puddle the funding operation easier.
In 2004, Ladner and Elliott applied to certify the same casino under the same call inwards the same place. However, they withdrew the coating during the indorse stone's throw of the casino developing operation — the tread inward which applicants are required to exhibit that they experience the funding to fill in the cassino they were licensed for.
This is not an uncommon job on the Mississippi Coast, which has 12 casinos crossways Hancock and Benjamin Harrison counties, with several to a greater extent are proposed for Biloxi, Long Beach, and D’Iberville. Twice as many as that were approved, but more than 20 casino developers who received site approvals hold been unable to unafraid funding since Hurricane Katrina devastated the region inwards 2005.
Though Mississippi’s gaming manufacture has more than rebounded from the pandemic — generating 144 gaming revenue (GGR) inward 2021 of almost $2.7B, the state’s highest gaming win since 2008 — banks and investors remain hesitant to clear their wallets for unexampled gambling casino projects in the Gulf. Even the rock legends KISS couldn’t win over plenty investors to assist restitute the former Margaritaville Casino into a $200M careen n’ roll-themed gaming and amusement destination called Rock & Brews Casino.
In fact, only when one young companion was able to jog their approved gambling casino conception into reality: the Margaritaville Casino, overlooking the Biloxi Back Bay, and that has since closed.
Elliott and Ladner have until 2026 to establish the South Coast Casino & Resort.
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