Gaming Tourism: Gulfport
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Gulfport and Island View Casino Resort Amend Lease Agreement
The Mississippi State Port Authority at Gulfport has amended its lease agreement with Island View Casino Resort by modifying the percentage the port authority receives from Island View’s gross income. The modification will allow Island View to secure funding for an additional gaming project.
"The Port of Gulfport’s amendment to Island View Casino’s lease allows us to plan on investing approximately $75 million in a new casino to complement our recently opened beach tower," said Rick Carter, the resort’s co-owner. "We are very excited about this project, and we expect to have final plans to show within the next few months."
Under the original 2013 agreement, Island View committed to investing $58 million to renovate a hotel tower.
"The [port] commission’s willingness to reduce future revenues and to allow Island View to pursue further expansion efforts solidifies the company’s position in South Mississippi’s gaming market," said Jonathan Daniels, the port authority’s executive director and CEO. "The structure of this new agreement will also allow for significant increases in tax revenue for the state of Mississippi, Harrison County, and the city of Gulfport."
"I commend the State Port for having the foresight to negotiate an amendment to its lease with Island View, setting the stage for additional employment opportunities in one of the state’s strongest industry sectors," said Governor Phil Bryant. "The partnership between Island View and the port continues to be beneficial to the growth of both organizations and will continue to provide future economic stability for the Gulf Coast."
The Mississippi State Port Authority at Gulfport has amended its lease agreement with Island View Casino Resort by modifying the percentage the port authority receives from Island View’s gross income. The modification will allow Island View to secure funding for an additional gaming project.
"The Port of Gulfport’s amendment to Island View Casino’s lease allows us to plan on investing approximately $75 million in a new casino to complement our recently opened beach tower," said Rick Carter, the resort’s co-owner. "We are very excited about this project, and we expect to have final plans to show within the next few months."
Under the original 2013 agreement, Island View committed to investing $58 million to renovate a hotel tower.
"The [port] commission’s willingness to reduce future revenues and to allow Island View to pursue further expansion efforts solidifies the company’s position in South Mississippi’s gaming market," said Jonathan Daniels, the port authority’s executive director and CEO. "The structure of this new agreement will also allow for significant increases in tax revenue for the state of Mississippi, Harrison County, and the city of Gulfport."
"I commend the State Port for having the foresight to negotiate an amendment to its lease with Island View, setting the stage for additional employment opportunities in one of the state’s strongest industry sectors," said Governor Phil Bryant. "The partnership between Island View and the port continues to be beneficial to the growth of both organizations and will continue to provide future economic stability for the Gulf Coast."
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