Trump Entertainment Resorts, Inc. and Diamondhead Casino Corporation announced Monday that they intend to form a joint partnership to develop, build and operate a casino resort in Diamondhead.
The resort would be built on a minimum of 40 acres within a 404-acre tract of land owned by Mississippi Gaming Corporation, a subsidiary of Diamondhead Casino Corporation. The property fronts Interstate 10 for about two miles and the Bay of St. Louis for two miles.
Mississippi's new land based gaming law, passed after Hurricane Katrina, would apply to the Diamondhead property.
"We believe a partnership with Trump Entertainment Resorts for this venture adds up to an ideal combination because of their experience, the value of the Trump brand, the location of our site on Interstate 10 and the vitality of the Gulf Coast market," said Deborah A. Vitale, the Chairman, Chief Executive Officer and President of Diamondhead.
"We have the land, the location and the desire to pursue a master plan for the entire tract that should not only enhance long term shareholder value, but which should significantly enhance the surrounding economy."
"We are excited about the prospect of bringing the Trump brand to the Gulf Coast, and we hope to join private and public entities in redeveloping the region," James B. Perry, President and Chief Executive Officer of Trump Entertainment Resorts, Inc. said.
"We believe that this is a great opportunity to create value for our company, our shareholders and the citizens of Mississippi."