Local Developers Eye President Broadwater Properties

Two coast developers have put in a bid to purchase the President Casino Broadwater Properties.

Contractor Roy Anderson the third and W.C. Fore are part of a group that's offering $66 million. The properties include the President Casino and adjoining marina, along with the landmark hotel and adjacent golf course.

However, the deal is far from finalized. The group could be outbid for the properties at an auction on December 16th in St. Louis.

The newest member of the state gaming commission says the "local bid" is a positive sign.

"The prospects of having the Broadwater properties restored to its days of greatness has to be encouraging here on the coast. And so I think there's reason to be encouraged by it," said Jerry St. Pe', who was recently named to the Mississippi Gaming Commission.

Any final deal for selling the President Broadwater properties must also be approved by a federal bankruptcy court.