Rotate Black has announced that it has received unanimous Approval to Proceed from the Mississippi Gaming Commission for its four-star Casino Resort in Gulfport, Mississippi.
The project will feature over 100,000 sq ft of gaming and entertainment space as well as a 205 room hotel. The gaming and entertainment space will boast 1,188 slots, 26 table games, as well as a steakhouse, water view bar, extensive exterior decking, center bar, buffet and caf?.
Dual Cooper, Rotate Black President, said, ?We?re thrilled with the outcome of today?s meeting and with thorough process of the Commission. This resort will be one of the finest on the Gulf Coast and a huge draw for the City of Gulfport.?
The project will be located on a 9 1/2 acre property directly on the recently renovated Bert Jones Yacht Basin and adjacent to the new waterfront Harbor Square Park with its pavilions, green space and art and entertainment facilities.
This is one of the last gaming-eligible sites in Mississippi and will offer unparalleled vehicle and pedestrian access. The site is at the intersection of Highway 49 and US 90 and will offer direct access to I-10 via the Central Harrison County Connector Highway.
As a requisite of this approval, RBMS secured $112m in debt and equity to finance the completion of this Project.
Jeff Bacigalupi, Rotate Black CFO, said, ?We have fantastic financing partners that will add a ton of value to this project both during development and the operations of the resort.?
In addition to Rotate Black?s minority interest in the project, they have entered into a management agreement to manage the Project that, once the Project is operational, will generate up to $300,000 per month in ongoing management fees for the company.
About Rotate Black, Inc.Rotate Black is a premier development and management company of global resort and casino properties. The company makes investments specifically targeted towards the gaming industry, seeking to maximize total return from capital appreciation and income. The management and Board of Directors have extensive experience in successfully developing and managing resort properties.
More Information
Rotate Black ? Website: RotateBlack.com
Source: Rotate Black Inc.
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