TUNICA, MS - Myriad Entertainment & Resorts has agreed to buy 250 acres of land
in Tunica to build the Myriad Botanical Resort. The land is at the former site
of the Treasure Bay Casino, which closed in 1995 after operating only one year.
The purchase is schedule to be completed December 2nd.
"The Treasure Bay location was the original site chosen of the Myriad management
team over four years ago," said Nicholas Lopardo, Myriad's chairman. "An option
was never able to be consummated."
Lopardo said talks continue with the principal lender to complete a $700 million
financing package for the first phase of construction. The total investment
could be up to $2.5 billion.
FEATURES (Phase 1)
Casino - 100,000-square-feet
Hotel - 750 rooms
Health & wellness luxury spa - 25,000 square feet Conference and meeting space -
35,000 square feet Water park Golf course - 18-hole championship facility
The grand opening is expected before January 1, 2011.
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