|
Donald Trump is known across the country for firing people, but residents of Diamondhead, Mississippi will become a little more familiar with "The Donald" over the next few months. Trump Entertainment Resorts, Inc. recently released documents indicating they are in the process of working with the Diamondhead Casino Corporation to build a world-class-casino in the hurricane devastated region.
The agreement includes the 40 acres of prime Mississippi real estate owned by the gaming commission. In October last year, Mississippi Governor Haley Barbour signed a bill that documented the state’s approval of building casinos, the law does state that resorts must be built on land up to 800-feet from the mean high water line of certain bodies of water.
"We believe a partnership with Trump Entertainment Resorts for this venture adds up to an ideal combination because of their experience, the value of the Trump brand, the location of our site on Interstate 10 and the vitality of the Gulf Coast market," said Deborah A. Vitale, the Chairman, Chief Executive Officer and President of Diamondhead. "We have the land, the location and the desire to pursue a master plan for the entire tract that should not only enhance long term shareholder value, but which should significantly enhance the surrounding economy."
The wheels on the deal are still spinning, there is still some red tape that needs to be cleared before construction is officially announced.
"As we renovate and re-brand our Atlantic City properties, we are also focused on our corporate development initiatives and expanding the Trump brand into new markets," said James B. Perry, President and Chief Executive Officer of Trump Entertainment Resorts, Inc. "We are excited about the prospect of bringing the Trump brand to the Gulf Coast, and we hope to join private and public entities in redeveloping the region. We believe that this is a great opportunity to create value for our company, our shareholders and the citizens of Mississippi."
The Trump name is one of the more prominent in the brick and mortar gaming world, Trump Entertainment Resorts, Inc already owns and operates casinos including Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino. Both casinos are located in Atlantic City.
|
