The city of Biloxi, Mississippi will regain control of land that had been leased to Margaritaville Casino & Restaurant, as part of the casino’s bankruptcy proceedings. City Attorney Gina Tompkins said, “We’re going to cancel those leases and the city will get the property back.”
Tompkins noted the city still may make a claim against MLB Holdings, the company that operated the casino, or Clay Point, the company that owns the land on which the casino was built.
Opened in May 2012, Margaritaville closed on September 19, putting 371 employees out of work. MLB Holdings officials blamed the out-of-the-way location and lack of hotel. They said they had planned to invest $64 million to build a 250-room hotel and renovate the facility, but were unable to come to terms with Clay Point.
