Miss. Gaming Commission approves license surrender

Published 11:27 pm Saturday, November 18, 2006

The Mississippi Gaming Commission on Friday approved the license surrender of Biloxi Casino Corp., which did business on the Gulf Coast as Casino Magic.

Pinnacle Entertainment Inc., which is the parent company of Biloxi Casino Corp., turned in the license after its sale of the Biloxi casino to Las Vegas-based Harrah’s Entertainment Inc. was finalized this past week.

Tommy Shepherd, an attorney for Pinnacle, said the company has projects in other gaming areas but he wouldn’t rule out the possibility for returning to Mississippi at a later date.

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“Never say never,” Shepherd said.

The Casino Magic property is next to Harrah’s Grand Casino property in Biloxi.

Harrah’s obtained the Hurricane Katrina-damaged Casino Magic Biloxi from Pinnacle in exchange for two Harrah’s properties in Lake Charles, La. and about $25 million.

Pinnacle bought the properties and their licenses in May after Harrah’s decided not to rebuild its two-boat gambling complex in Lake Charles following Hurricane Rita.

Pinnacle, also based in Las Vegas, has said it will build a $350 million casino, known as Sugarcane Bay, next to its L’Auberge du Lac resort, as well as a casino project in East Baton Rouge.