Choctaws plan for casino renovation, expansion

PHILADELPHIA, Miss. (AP) – The Mississippi Band of Choctaw Indians will borrow up to $145 million to renovate the Silver Star Hotel and Casino, reopen the Golden Moon Casino fulltime and possibly build a casino in the Red Water community.

A resolution authorizing the tribe to refinance its current debt and borrow money for the updates was passed by the Tribal Council this past week.

Chief Phyliss J. Anderson said the new money was needed to maintain the current level of employment and to improve profitability. She said the loan is expected to be signed in January.

Anderson said the plan is to spend about $88.1 million over the next two years.

This includes $32.3 million for new slot machines and upkeep, $22.4 million for the hotels, $7.6 million at the Golden Moon, $7 million to refinance the Dancing Rabbit Inn and $18.8 million for a possibly casino in Red Water.

Golden Moon has operated only on weekends since the start of 2009, when its operating days were slashed during the depths of the recession as casino visitors dwindled. That occurred at the same time that 570 positions were eliminated throughout Pearl River Resort.

It became a weekend entertainment venue in late 2010.

Golden Moon opened in 2002 as a complement to Silver Star, but tribe officials said at the time that its operating days were reduced because it was proving too costly for both casinos to operate seven days a week.

Anderson indicated Pearl River Resort has made strides in returning to profitability in the last two years, and that MBCI is looking to other tribal land to build more gambling facilities.

The tribe is also considering a casino in the Red Water tribal community in the Carthage area in Leake County.

“Expanding into the Carthage/ Red Water community would allow the Resort to leverage its great highway access and its proximity to the greater Jackson market,” said Holly Gagnon, president/CEO for Pearl River Resort.

Tribal Council member Kevin Edwards asked that an amendment be added to the resolution saying no funds would be spent on Red Water until further studies were completed. The amendment was approved.

Pearl River Resort includes the Silver Star Hotel & Casino, Golden Moon Hotel & Casino, Dancing Rabbit Golf Club, and Geyser Falls Water Theme Park and Bok Homa Casino.

–––

Online:

Pearl River Resort, http://www.pearlriverresort.com