I am still going to hold out for the Palace becoming a huge player. They have run the casino right, and I believe they have the opportunity and leadership to pull something out fantastic. Have any of you guys seen their new golf course (I am not sure if it is "theirs" but I know they are significant investors) The Preserve, it is amazing.
The Onnam group is the ones developing the Havana, and as I said, the original plans for 18 story hotel (although incredible looking) are not going to hold up against an amazing a 25+ story Back Bay Resort (I hope they change the name and BLX if you can find a photo of it I would be forever greatful), Bacaran at 20+, so on and so forth.
I still think that it is way too optimistic to think that Wynn is coming into our market, not that we should not be hopeful, but he has reinvested so much with his Encore in LV and his resort in Macau that Biloxi is probably not on his radar. The Beau Rivage lost soo much money originally too that I do not even know if Biloxi left him with a good taste in his mouth.
It will be interesting to see how the market develops though. Copeland's place will be a pipedream too I am afraid. It would be difficult to build something of any signficance on that small tract of land, and needs to be given over to the HRC so they can start expansion plans. (Yea, they are doing that good). And I really hope the IP continues to do well and becomes the largest resort on the coast.
I think it will be interesting to see the design plans for the Vieux with a casino. I loved the lines of the condos, and it is only logical that they expand.
BLX, Velastor, anyone else: whats the timeline of announced resorts or anything else:
Casinos:
Bacaran Bay: Starts construction in December 2007 - January 2008 and is completed by December 2009 - May 2010.
Margaritaville: Construction under way and is completed May 2010
Isle of Capri: Reevaluating expansion plans (They might introduce new theme or line because it would hard to pull off their current theme next to Margaritaville) and is completed (100000+ sq. feet casino, six to eight restaurants) May 09
Boomtown: Announce expansion plans by Spring 08 (including possible hotel and onshore move) and construction complete November 10 - May 11
Grand: Eventual change into Horseshoe (possible Ceasars) May 10 construction or change complete May 12 - November 2012.
IP: Large addition plans announced May 09 and construction complete November 11 - May 2012.
Other projects: Back Bay Resort, Havana, Vieux Cresente, Tivoli, Casablanca, Lady Luck Site, Windjammer site, MGM Mirage expansion across Highway 90, Broadwater Casino, Palace Expansion, 2 D'iberville casinos (One being $250 mill which isn't huge), and Choctaw casino in Jackson
In other news:
Edgewater Mall goes on the market
Many shops didn't know it was up for sale
by PRISCILLA FRULLA
pfrulla@sunherald.com
JAMES EDWARD BATES/SUN HERALD
Edgewater Mall on U.S. 90 in Biloxi will be sold soon.Edgewater Mall may be changing owners for the first time in more than 40 years. The property has been for sale for over a month, though many tenants didn't know it was on the market.
The mall's management company, Jim Wilson & Associates, confirmed the property went on the market in the last 45 to 60 days. Representatives referred other questions to the mall's owner since 1965, American National Insurance Co., or to the brokerage listing the property, Colliers Turley Martin Tucker, a division of Colliers International.
Phone calls to both American National and Colliers were not returned.
Of the tenants contacted, most had heard little or nothing about the sale.
"I've just hear little rumors," said Pat Gill of The Epitome.
Gill has operated his cigar store in Edgewater Mall for 36 years. He said the sale might be good for some tenants.
"My first thought was a little new blood and new investment" might be a good thing, he said. "The location is one of the best in the world. It has potential."
Colliers' Web site markets the property as presenting "significant opportunities for a new owner to capitalize on the strength of the trade area to add to the profitability of the center through conversion of existing below-market rate leases and the extraordinary redevelopment potential within the food court and outlots along Beach Boulevard."
Gill said if the new owners invest in improving the property first and then increase rates over a few years, the improvements might be worth the higher rent.