Port Of Gulfport And Island View Casino Resort Amend Lease Agreement, Paving The Way For Future Gaming Project

The Mississippi State Port Authority amended their previous lease agreement with Island View Casino Resort, modifying the percentage the Port Authority receives from Island View’s gross income. This modification will allow Island View to secure the necessary funding for an additional gaming project.

“The Port of Gulfport’s amendment to Island View Casino’s lease allows us to plan on investing approximately $75 million in a new casino to complement our recently opened beach tower,” said Rick Carter, co-owner of Island View Casino Resort. “We are very excited about this project, and we expect to have final plans to show within the next few months.”

Mirroring the lease agreement made in 2013, where Island View committed to investing $58 million to renovate the hotel tower on the south side of U.S. Highway 90, this new lease agreement paves the way for an additional $75 million in private investment.

“The Commission’s willingness to reduce future revenues and to allow Island View to pursue further expansion efforts, solidifies the company’s position in South Mississippi’s gaming market”, said Jonathan Daniels, MSPA executive director and CEO. “The structure of this new agreement will also allow for significant increases in tax revenue for
the state of Mississippi, Harrison County, and the city of Gulfport.”

“I commend the State Port for having the foresight to negotiate an amendment to its lease with Island View, setting the stage for additional employment opportunities in one of the state’s strongest industry sectors,” said Gov. Bryant. “The partnership between Island
View and the Port continues to be beneficial to the growth of both organizations and will continue to provide future economic stability for the Gulf Coast.”

With a new lease agreement in place, details concerning Island View’s future gaming project will be made available in the coming months.

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