Barely two years after it opened, the Margaritaville Casino in Biloxi, Mississippi will close in the next two months.
The casino will own the dubious title of first casino to close on the Gulf Coast since Katrina nine years ago.
Management met with employees Monday morning and gave them WARN notices, required under the Worker Adjustment and Retraining Notification Act, telling them of the impending closing of the casino on or before Sept. 19.
Employees were told not to speak to reporters and said on the way out of the meeting, “It could cost us.”
It will be business as usual, said Michael Cavanaugh, attorney for the owners. But business dropped following the announcement that Harrah’s Casino in Tunica was closing in June, and Cavanaugh said Margaritaville could close in a couple of weeks if the same happens in Biloxi.
Cavanaugh said MVB Holding LLC, the company that operates the casino, was unable to come to an agreement with its landlord and therefore could not secure financing to build a hotel.
Cavanaugh also admitted that the casino is losing money, but declined to say how much.
There were lots of high hopes for the casino that opened May 22, 2012, with a concert by Buffett, attended by thousands and broadcast live worldwide on Margaritaville Radio.
Read more at The Sun Herald.
Only three weeks ago, it was announced that Jimmy Buffett’s at The Beachcomber restaurant in Honolulu is closing.
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