Trump close to building casino with Madeira Beach company
Tampa Bay Business Journal - September 8, 2006Print this Article Email this Article Reprints RSS Feeds Most Viewed Most Emailed
Diamondhead Casino Corp. and Trump Entertainment Resorts Inc. have extended the deadline date to Oct. 23 to form a joint venture partnership to develop, build and operate a destination casino resort in Diamondhead, Miss. The two companies are preparing a master plan and preliminary design concepts but need extra time to complete due diligence.
The joint venture would cover a minimum of 40 acres within a 404-acre tract owned by Mississippi Gaming Corp., a Diamondhead subsidiary. The Diamondhead tract fronts Interstate 10 for about 2 miles and the Bay of St. Louis for about 2 miles and is located in Hancock County, Miss. The property is zoned as a Special Use District-Waterfront Gaming District.
After Hurricane Katrina devastated beachfront casinos, Mississippi began allowing casinos to be built on land up to 800 feet from the mean high water line of certain bodies of water. This applies to the Diamondhead property.
Diamondhead (OTCBB: DHCC) is headquartered in Madeira Beach.
Trump Entertainment Resorts (NASDAQ:TRMP) owns and operates the Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Trump Marina Hotel Casino in Atlantic City. Together, the properties comprise approximately 371,300 square feet of gaming space and 3,180 hotel rooms and suites.
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