Posted: Jul 21, 2014 2:30 PM
Source: Associated Press
JACKSON, Miss.- Biloxi's Margaritaville Casino & Restaurant will close on or before Sept. 19.
Margaritaville said Monday it will pay its 371 employees up to Sept. 19, but could close before then.
Managers of the casino say it couldn't overcome an out-of-the-way location and lack of a hotel.
Owners of the casino had planned to invest $64 million to build a 250-room hotel and overhaul the rest of the casino, but said they couldn't resolve a dispute with a Hattiesburg company that owns the land under part of the casino to clear the way to finance the project.
Margaritaville, a $62 million investment when it opened in May 2012, is the newest of 12 casinos along Mississippi's Gulf Coast.
Another investor group has started work on the Scarlet Pearl casino in D'Iberville.