President Broadwater Sells For $82 Million

Roy Anderson III and W.C. Fore will pay $82 million dollars to take over the President Broadwater Resort. At an auction in St. Louis, the two Gulfport men teamed up with the Miami based Dezer Development Group to buy the Biloxi casino out of bankruptcy.

Just two groups bid on the 240 acre Broadwater property. Anderson, Fore and Dezer spent an hour trying to outbid a group out of Atlanta.

The winning $82 million bid was $16 million more than Anderson and Fore initially offered.

Anderson heads up the Roy Anderson Corporation construction company.  He's also a main investor in the Hard Rock Biloxi project.  Because of that involvement in the Hard Rock, sources tell WLOX News Anderson can't have anything to do with the President Casino's day-to-day operations.  He will simply be a land owner.

W.C. Fore is also in the local construction business.

According to the internet, the Dezer Development Group has a vested interest in several south Florida condominiums and hotels.  It also has business ties to Donald Trump.

Attorneys expect the local developers to officially take control of the Biloxi property by mid April.