On January 26, the Gulfport Planning Commission will vote to approve Gulfport Gaming Development’s use of a 10-acre harbor site for a proposed 0-0 million casino. On January 31, the developers will present construction plans to the city and other property owners for review.
Gulfport Gaming Development has been working with the city on the casino project for a year and previously received site approval from the Mississippi Gaming Commission.
Last September Virginia attorney Robert Lubin, a partner in Gulfport Gaming Development, asked the city to reduce the lease payments on the land for two months until Congress renewed the EB-5 program. The program allows foreigners to secure permanent residency in the U.S. in exchange for investing in projects here. Lubin and his business partner, plan to use the Eb-5 program to raise the money to build the Gulfport casino. Lubin said he would need 120-140 investors at a minimum of $500,000 each to finance the casino.
Previously Rotate Black and other developers proposed a casino on the site, owned by the city, Marine Life Oceanarium and Misco Marine. Gulfport spokesman Chris Vines said John Stewart, president of the Kentucky architectural firm Encompass, designers of the proposed casino, recently discussed with the property owners the planned uses of their property for the casino. “The owners support those uses,” Vines said.
