In a special session, the Mississippi House recently approved House Bill 5, which will resolve a dispute over lease payments for Gulf Coast waterfront property currently occupied by the Golden Nugget Casino. The measure, awaiting Governor Phil Bryant’s signature, would allow state Secretary of State Delbert Hosemann to pay .59 million to the owners of Biloxi’s Point Cadet. The city of Biloxi would get 6,000, and the College Board and the state tidelands fund each would receive 4,000. The ratios follow a 2002 court settlement.
City spokesman Vincent Creel said a total of $1,593,970.52, held in an account controlled by the secretary of state. Lease payments had stopped after legislators swept the money into the general fund during the 2016 session. “The governor pressed to make sure this was part of the session. This is Biloxi taxpayers’ money. They were just holding it for us,” Creel said.
Biloxi officials had asked a judge to order payment, but Creel stated the legislation should end the dispute. Biloxi now is receiving payments on a regular basis. City officials had warned if the state didn’t pay the money owed by the end of the fiscal year on September 30, Biloxi might have to raise taxes to cover the shortfall.
Creel said, “The Point Cadet lease, which is based on gross gaming revenue figures from the Golden Nugget, generates about $300,000 to $400,000 a month for the city” and about $3.2 million a year.
