City officials in Gulfport, Mississippi recently announced Robert Lubin, developer of the Magnolia Bluffs Casino in Natchez, will build a 0 million, as yet unnamed, casino complex in Gulfport. An attorney based in Virginia, Lubin heads Mississippi Coast Entertainment LP, which has proposed a casino, 300-room hotel, entertainment venue, parking garage and another attraction, as required by the Mississippi Gaming Commission, at the city’s small craft harbor.
Previously developer Rotate Black had won state approval to build the $170 million Hemingway Resort and Casino at the site near Jones Park in downtown Gulfport. But the city terminated its lease with Rotate Black when it fell behind $375,000 on its rent.
Lubin said he already has a contract on the derelict Markham Hotel downtown, vacant since Hurricane Katrina swept through in 2005, in which he will invest $30 million to use for offices or apartments. Lubin said while he was researching the Markham his partner Kevin Preston of Premier Gaming Group found out about the casino site.
Mayor Billy Hewes said, “After many years of working to make this site viable, we now have an agreement with adjoining land owners and a partner who has a strong track record of successful developments in the private sector.” Hewes said the Gulfport Redevelopment Commission selected Lubin’s plan over two others. One of those was from the privately held Island View, Gulfport’s only casino, with 1,600 employees and 2,000 slot machines.
Hewes said Lubin “had the best presentation. He committed the largest investment. He has to a great degree already been vetted. I think that was part of the appeal, too.” Hewes said the city council must approve the lease for the 3.4-acre harbor property, which is being negotiated with the Gulfport Redevelopment Commission. The Mississippi Gaming Commission also must approve plans for the casino resort. Following that, Lubin said the casino resort could be completed in one and a half years.
Lubin’s law firm, Lubin, Salvetti & Associates, specializes in working with foreign investors seeking EB-5 visas for permanent U.S. residency by investing $500,000 or $1 million, depending on the area, in a U.S. business venture. On its website, Lubin’s law firm noted it created 27 major development projects by April 2014, including raising $23 million for Magnolia Bluffs. The company also purchased the Eola Hotel and built a Hilton Garden Inn in Natchez with EB-5 funds.
Lubin noted, “I want to thank the city of Gulfport for selecting our team for this exciting new gaming project. It is an honor, privilege and opportunity to create a special venue. We look forward to offering a first-rate and fun gaming facility, a beautiful 4-star hotel and being part of something special as Gulfport continues her rise as a city of greater prominence in growth and development.”
