Article Excerpt:
TWST: We would like to begin with a brief historical sketch of Diamondhead Casino and a picture of the things you are doing at the present time.Ms. Vitale: Diamondhead Casino Corporation, formerly known as Europa Cruises Corporation, used to operate gambling ships out of ports located in Florida. We had four ships and we operated out of Miami Beach, Florida, Madeira Beach, Florida, and Fort Myers Beach, Florida. We eventually sold the ships so as to focus all of our resources on a 404- acre parcel of land, which we owned in Diamondhead, Mississippi. That location is one hour from New Orleans and approximately 20 minutes from Biloxi, Mississippi. The property fronts Interstate 10 for approximately two miles and fronts the Bay of St. Louis for approximately two miles, and is zoned by Hancock County as a gaming district. Following Hurricane Katrina, on October 17, 2005, Mississippi passed a new law that now allows casinos to be built on land up to 800 feet from mean high tide, which is essentially the water line. Therefore, we can now build on land, and we intend to do so. Recently, a joint press release was issued by Trump Entertainment Resorts, Inc., and Diamondhead Casino Corporation, pursuant to which we have signed a letter of intent, and we are going to pursue a joint venture partnership to develop and construct a destination casino resort at the Diamondhead location.
TWST: What do you intend to accomplish over the next couple of years?
Ms. Vitale: Obviously, over the next couple of years, our goal is to
have a master plan for the entire 400-acre tract, but hopefully by then,
we will be substantially under construction, and our expectation is to
have a class casino, hotel, entertainment center, and surrounding
amenities, including condominiums. The tract is a huge tract of land and
it's a significant amount of waterfront property, so it lends itself to
condominium development as well.
Tickers included in this excerpt: DHCC
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