Roy Anderson and W.C. Fore know what the Broadwater meant to Biloxi. They also know a good investment when they see one. And in their eyes, the bankrupt President Broadwater Resort was just that -- a good investment, that if developed properly, could once again become a must see resort.
On the day after their auction victory, a layer of fog shrouded the President Casino. Yet Roy Anderson III knew what was on the horizon. "I see a great opportunity," the new President Broadwater owner said. "I think it's got a couple pieces of the puzzle that need to be rearranged."
It was rather fitting that the fog burned off while one of the men who bought the President Broadwater Resort out of bankruptcy cleared up the property's future. "I think the Broadwater property is a pinnacle. It's kind of the centerpiece," Anderson said. "I was born and raised here. And I think the Broadwater property has unlimited potential."
The Anderson group is about to hire a land planner to redesign the 240 acre Broadwater property. Anderson isn't sure how the President Broadwater golf course fits into the overall plans. He does think a condominium tower will be built on the casino's current parking lot. And he expects the casino to move to the north side of the marina. Anderson has plans to save the Broadwater Beach sign. But he's pretty sure demolition crews will knock down the Broadwater hotel, so more condos and what he calls an upscale, lifestyle shopping plaza can be built. "We don't look at it as destroying the hotel. We look at it as the first step to bringing it back," he said.
Once upon a time, the Broadwater was the flagship hotel in south Mississippi. Now, Roy Anderson, W.C. Fore and the Florida developers have bet $82 million that they can restore it to its past prominence. "I think a lot of the gaming operators that have come into town have really missed an opportunity," he said, "because this site has one asset the other gaming sites don't have, which is real estate."
There's been a lot of talk that Donald Trump may have something to do with the President's future, because the Dezer group has done business with him. Anderson said that as of today, he wouldn't expect Trump to have anything to do with it.
W.C. Fore was a bit more direct. He said, "No," Trump won't be part of the Broadwater's redevelopment. According to Fore, Trump's name isn't on the bankruptcy purchase. He didn't sign any papers. And he didn't put up any money.