Tunica

[Rardy]

An article in today's Daily News describes the first phase of the project which will include 3 casinos, each with a 500 room hotel and a 1,000 car parking garage. It will also include the 600,000 square feet convention center. I'm not sure exactly where this project will be, but wouldn't it work better if they were clustered with the existing casinos?

This rendering accompanied the article:

This whole project really seems like it will benefit Tunica. It adds competition which will make the existing casinos more efficient and effective, but it also will bring in other gamblers/gamers who maybe wouldn't have made the trip just for Tunica as it is now.

I read about the first casino in Tunica called Splash down on Mhoon Landing. It's abandoned now, but I'd like to go down and take some pictures of it. Anyone ever vist it?

[Bears]

An article in today's Daily News describes the first phase of the project which will include 3 casinos, each with a 500 room hotel and a 1,000 car parking garage. It will also include the 600,000 square feet convention center. I'm not sure exactly where this project will be, but wouldn't it work better if they were clustered with the existing casinos?

[idlewild]

i think the reason for this location is b/c of the future I-69 it will probably be right up on it, right?

[ballard100685]

I heard that both of those projects are banking on a third brigde being built because of the coming I-69.

[Clobber]

I heard that both of those projects are banking on a third brigde being built because of the coming I-69.

[Fellowmann20]

(and I don't know how much progress has been made retrofitting the 40).

[Clobber]

Didn't they retro fit the Hernando Desoto Bridge 2 or 3 years ago?

[tombarnes]

Riverbend Meets Deadline

An important hurdle has been jumped for the Riverbend Crossing project. I hope this means that earth will be turned in short order.

The Clarion Ledger

[Fellowmann20]

Wow, If this project goes through Tunica's population is going to sky-rocket.

[Clobber]

There's an article in this week's bizjournals (Memphis). I don't have the account to get the full article, but the intro states that it could begin construction early 2008, that it will be built in phases, and the cost has increased to 4 bill. Hopefully that means more amenities.

http://memphis.bizjournals.com/memphis/sto...03/story11.html

[Rardy]

Myriad is starting to sound less and less likely guys...

The venture also is almost $12 million in the hole, according to documents filed with regulators.

The new managers have postponed purchase of the land for the plan, which has been scaled back by about two-thirds from the earlier vision.

Chairman Nick Lopardo said the $1.3 billion version of the project will get done.

"The major thing we've done is we've decided that to build six casinos, six hotels, a convention center and water and snow park to come out of the ground was not realistic," he said.

The new plan: Two casinos with hotels, 125,000 to 150,000 in convention space -- down from 375,000 in the original vision -- with a 600-room hotel, the water-snow park, wellness and health spa, a 6,000-seat covered stadium and a golf course, including the original idea of enclosing the course in a bubble burst.

[northernbizzkit1]

Myriad is starting to sound less and less likely guys...

The project still sounds huge and would be a great boost to Tunica, but if they've cut it down this far, aren't they likely to cut it down even further?

They still have a closing date for Oct. 2nd to buy the land - if they can come up with $200 million in equity by then.

Article here>>

BTW, the article says that "12 million people live within a 90-minute drive of Tunica". That is SO not true.

[Rural King]

BTW, the article says that "12 million people live within a 90-minute drive of Tunica". That is SO not true.

[Clobber]

LOL Twelve million people within 90 minutes of Tunica....take away the 1 in from of the 2 and thats a more accurate figure.

[Rardy]

Or a decimal is out of place and that becomes a conservative estimate

[Clobber]

I thought of that too, but the entire Memphis MSA is within 90 minutes, and that alone is more than 1.2 million. A 90 minute drive would include Tupelo, Corinth, Oxford, and all the way down to like Grenada. It would have to be a good bit more than 1.2 million.

I think 2 million might be more appropriate, but I really don't know what they meant!

[Rural King]

^ I would guess higher than 200K, maybe close 400-500K or so since you could in theory cover quite a bit ground in 90 min once on a major road artery in all those directions and could reach with some luck with all the cities (and their respective counties) listed by Rardy. I don't know if you could reach Columbus or parts of the Golden Triangle in 90 minutes, but if you could that could add some significant population. I don't think you could make it that far though.

At the end of the day I think any number from 1.5 million to 2 million probably is close to the accurate figure depending on what counties in Mississippi were used in the estimation. Clearly 12 million is not remotely possible.

[tombarnes]

Expansion Plans for the Grand Casino...

There may be an announcement today regarding the Grand Casino in Tunica. The short article below hints at a linking with a celebrity chef and goes on to note an appearance by Paula Deen. As for what the larger plans for the complex are, we may find out today.

The Sun-Herald

The plans include a name change to Harrah's Tunica and a buffet restaurant with Paula Deen's name, but come on people....just $45m on this? I thought they'd do something significant to grow the Tunica market. This is little more than a minor renovation and a name change.

The Clarion-Ledger

[tombarnes]

Myriad Scaled Down?

A column by gaming guru Rudi Schiffer suggests that the plans for the Myriad Resort may have been scaled down to two casinos and one 600 room hotel. If the hotel were a top brand like Four Seasons, this might be acceptable. That's not likely to happen. Is this another Mississippi Bubble?

Rudi Schiffer- Casino City Times

Note: Also posted in the Mississippi forum.

[tombarnes]

Myriad Delays

The Myriad has been delayed once again. This time, the new deadline is February. Sound familiar? I'm really beginning to wonder if this project might really be a pipe dream after all....

Hotel-Online The Commercial Appeal

[Rural King]

Repeated delays are always a worrisome signs, but sometimes they still pan out. We will just have to keep our fingers crossed.

[ponderjb]

Press release on the Myriad Botanical Resort.

http://www.24-7pressrelease.com/view_press...e.php?rID=36670

This thing is going to be awesome if it ever gets off the ground....

[tombarnes]

Supposedly, there was a shakeup in the executive team and the project is said to be moving forward. The total is still in the $2 billion range, but the company plans to begin with a 750 room hotel, spa, water park and golf course. given the current lending climate and the state of the existing market in Tunica, this may make more sense. I still remain skeptical until the time we see earth moving at the site. Thoughts?

The Commercial Appeal

Note: This has also been placed in the Mississippi forum. TB

[Rural King]

^It will be great for Northern Mississippi if this does materialize, but like you I am more inclined to believe it will happen when we can see actual dirt being moved - even then till it gets close to done it might be a good bet to keep an eye on it with such a large price-tag. The economy seems to be really hitting a rough patch in the financial sector, so this might not be the best time to try to be lining up large amounts of financing.