D'IBERVILLE, MS (WLOX) - A proposed casino for D'Iberville missed its deadline to secure financing to build the project. Developers of the proposed Scarlet Pearl Casino had until 5pm Monday, March 31 to secure financing for the $250 million project.
According to Allen Godfrey, Executive Director of Mississippi Gaming Commission, the project has already been granted one extension and will not be granted another one.
What does that mean? While the site approval still stands, developers will have to go back through the review process to prove they can finance the new casino to the gaming commission.
D'Iberville Mayor Rusty Quave told WLOX News his city is committed to seeing the Scarlet Pearl project from to fruition.
"The developers have spent almost $50 million getting ready for this casino. It's a project we feel will work, and we feel once they go back before the Gaming Commission, we'll have a project that will be up and running," Quave said. "We anticipate this project will come up again, maybe in the next few months."
This isn't the only casino project that could face a major setback this week. The Hemingway Casino project in Gulfport has until Tuesday, April 1 to secure financing, or the developers of that property could face the same fate.