Gaming Commission grants its approval for new casino in Waveland

Matt Moore

Thursday, June 15, 2000 | 2 a.m.

JACKSON, Miss. - State gaming regulators approved a new resort casino in Waveland, giving developer Eric Nelson his third license in Mississippi since gambling was legalized.

The Gaming Commission voted unanimously Thursday for Phoenix Mississippi Inc.'s plans to open its Paradise Bay and Resort at the former Bayou Caddy casino site in Hancock County.

Phoenix is a subsidiary of Las Vegas-based Phoenix Leisure Corp.

Nelson, who has developed dockside gaming properties in Tunica and Greenville, said Paradise Bay will incorporate 72 hotel rooms, 40,000-square feet of space, 750 slot games and 20 table games.

"Our construction process would start within 60 to 90 days," he said. "We expect to see the property open up with 12 to 18 months."

The property will use a 40,000-square-foot gaming barge that was formerly operated in Windsor, Ontario, and is berthed at Port Bienville on the Pearl River.

"The boat's not on site yet," he said.

Nelson said the barge will go in once more dredging is completed.

"Any time you're on the coast, you're going to see the building is a little slower," he said.

Permits to do the final dredging were approved by the state Commission of Marine Resources in January. Federal approval from the Environmental Protection Agency was issued last week.

Nelson said the resort will be located in the same place the Jubilee Casino first opened at in 1993. The Jubilee moved to Greenville in late 1995.

Daniel Davila, a gaming and leisure analyst with Hibernia SouthCoast Capital, called Nelson's project a step forward for the industry.

"They're not just building a casino, but are contemplating an entire community, which is the smart thing to do," he said.

A Gaming Commission regulation requires casinos to invest in land-based property, such as hotels, as a condition of licensing.

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