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Land-BasedCasinoPartnerships

Diamondhead Casino engages Colliers for property development and financing

The collaboration aims to either develop the 400-acre site into a casino resort or sell part or all of the property.

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Diamondhead Casino Corporation has retained Colliers to assist in marketing and financing the development of its property in Diamondhead, Mississippi.

Colliers has already prepared marketing materials and is actively seeking interested parties.

The Diamondhead property, owned through the subsidiary Mississippi Gaming Corporation, is located on Interstate 10, with two miles of frontage on both the interstate and the Bay of St. Louis.

This location benefits from significant traffic exposure, with over 18 million vehicles passing annually, and the site is zoned as a Special Use District-Waterfront Gaming District (allowing for casino resort development).

Additionally, the Mississippi Gaming Commission has approved a fifty-acre site on the property for gaming use.

Patrick Slagle, VP of Colliers, stated: "We believe the Diamondhead site is one of the best remaining gaming sites in the entire country. Its location on Interstate 10, between Biloxi and New Orleans, coupled with the accessibility to the site provided by nearby airports makes it one of the most easily accessible gaming sites in the country.

“It is a 400-acre blank slate with over two miles of waterfront and ready to be developed as a mixed-use resort with a casino as an anchor and a two-mile boardwalk. We know of nothing comparable and no other opportunity of this nature in the industry."

Under the agreement with Colliers, Diamondhead Casino Corporation can still engage with other interested parties.

Additionally, the agreement with Colliers is set to expire at the end of the year unless extended.

In other casino news, Hard Rock Casino Rockford set its grand opening date yesterday, announcing that it plans to open its permanent facility on 29 August 2024, pending regulatory approval.


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