Developers of the proposed "Silver Slipper" casino in Hancock County received the go ahead Wednesday from the Mississippi Gaming Commission.
The commission approved the finance plan for the nearly $50 million project.
"Silver Slipper" will be located at the old Bayou Caddy site in Hancock County. Phase one includes a land based building for restaurants, bars and entertainment areas. The gaming will be located on a four level riverboat.
Investors say the new casino will target customers in Southeast Louisiana.
Paul Alanis is a major investor in the project.
"We think that the Silver Slipper is going to be successful because it's going to have a real quality operation. As I say, emphasize customer service and customer value and be an alternative to the only really the second casino in Hancock County. And provide an alternative for customers," Alanis said.
The Silver Slipper is scheduled to open in about a year.
Alanis says the timetable is very realistic.
"We have a contractor in place who's commited to an eleven month time schedule. And we have a shipyard contractor who will do the boat renovations in about four to five months. So, we see no impediments to being open a year from now," he explained.
Former Casino Magic Biloxi executive, John Ferrucci, will be general manager of the new casino.