PHILADELPHIA — The Mississippi Band of Choctaw Indians will borrow up to $145 million to renovate the Silver Star Hotel and Casino, the Golden Moon Casino and possibly build a casino in the Red Water community.
A resolution authorizing the tribe to refinance its current debt and borrow money for the updates was passed by the Tribal Council this past week.
Chief Phyliss J. Anderson said the new money was needed to maintain the current level of employment and to improve profitability.
Anderson said the plan is to spend about $88.1 million over the next two years.
This includes $32.3 million for new slot machines and upkeep, $22.4 million for the hotels, $7.6 million at the Golden Moon, $7 million to refinance the Dancing Rabbit Inn and $18.8 million for a possible casino in Red Water.
In late 2010, the tribe moved some slot machines and blackjack tables out of the Golden Moon to make way for a theater for entertainment and musical acts. The tribe opened the Bok Homa Casino three years ago in Jones County.
The tribe is also considering a casino in the Red Water tribal community in the Carthage area in Leake County.
“Expanding into the Carthage/ Red Water community would allow the Resort to leverage its great highway access and its proximity to the greater Jackson market,” said Holly Gagnon, president/CEO for Pearl River Resort.
Tribal Council member Kevin Edwards asked that an amendment be added to the resolution saying no funds would be spent on Red Water until further studies were completed. The amendment was approved.
Pearl River Resort includes the Silver Star Hotel & Casino, Golden Moon Hotel & Casino, Dancing Rabbit Golf Club, and Geyser Falls Water Theme Park and Bok Homa Casino.
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