An upcoming casino resort will replace the defunct Broadwater Beach Resort and create the largest casino project in South Mississippi.
Biloxi to Welcome a $1.1bn Casino Resort
A massive casino project worth $1.1 billion is shaping up in Biloxi, Mississippi. The new project will take over the former Broadwater Beach Resort site with the Biloxi City Council deciding on a Mississippi tourism rebate plan on Tuesday.
The project will feature a golf course, hotel, spa, and various other amenities, including a casino, all of which will sprawl on 226 acres. Given the significance of the project, Biloxi’s upcoming casino can apply for a $10m tourism incentive.
As per the funding scheme, a portion of the sales tax brought in by the project will be repurposed as an incentive to help offset some of the construction and development costs. From a financial standpoint, it makes a perfect sense to Biloxi, and the city may be looking at 2,557 full-time and part-time jobs, according to the developer, Broadwater Development LLP.
The project itself is the most expensive casino resort in South Mississippi and, assuming it comes to realization, it will offer massive benefits for the region.
To develop the project, the Broadwater casino site in Biloxi was bought by Roy Anderson III and Cotton Fore who are connected with the present developer. Anderson is a partner in Broadwater Development, with the company registered with the Mississippi Secretary of State in January 2005.
Broadwater Beach Resort: A Development Steeped in History
The Broadwater Beach Resort was built in 1939 and operated as an illegal casino out on a 600-foot pier to avoid brushes with the law and balance between a river and brick-and-mortar casino. Several decades later, in August 1992, the President Casino opened as a legitimate operator and became the first legal casino in Mississippi’s history.
However, the Broadwater site was damaged by Hurricane Katrina. Just shortly before disaster struck Anderson and Cotton Fore had purchased the property. Now, years after, Anderson is making the most of the site, which promises to turn into one of the most significant investment opportunities for the region.
Mississippi Already Restarted Casinos
With a lot happening around the United States, Mississippi is now coping with the post-COVID-19 impact on the gaming industry. The Mississippi Gaming Commission allowed casinos to restart operations in mid-May, with some gambling businesses joining just recently, on June 1.
Casinos have been limited to 50% capacity and patrons entering the facilities have to undergo COVID-19 checks. People suspected of having contracted the illness are turned away.
In addition, casinos in Mississippi have introduced various restrictions on the casino floor as well, such as limiting the number of players at popular casino tables.