U. S. Bankruptcy Court Judge Katharine Samson recently signed an agreement under which MVB Holding will vacate the former Margaritaville Casino Biloxi building by midnight, October 27. The property then will be turned over to the owners, Clay Point LLC. The agreement also stated Clay Point officials may receive keys to the building but cannot remove any items or interfere with the removal of slot machines. The casino closed September 15.
Robert Byrd, attorney for MVB, operators of the East Biloxi casino since 2012, said Clay Point representatives have been present at the building and are disputing what property can be removed from the premises. “All gaming equipment is leaving the building,” he said. “Everything in there is leased, down to the salt and pepper shakers,” as well as the elevators, escalators, bar stools, kitchen equipment, buffet furniture, HVAC and surveillance equipment, Byrd said. He noted MVB will be allowed to remove business records and equipment.
Two things that will not be transferred to Clay Point are the state gaming license and the Margaritaville franchise. The license “was specific to MVB,” Byrd said. Mississippi Gaming Commission regulations indicate the building cannot reopen as a casino unless it has a 300-room hotel, an upscale restaurant a unique amenity that would attract new visitors to the Coastal market.
According to the agreement, Clay Point has dropped its demand for MVP to pay back rent beyond the agreement. However, Clay Point still may file a claim for any amount due under the lease.
Byrd said all employees were paid through September 19.
