Isle Buys Golden Nugget's East Biloxi Land

The talk about Golden Nugget creating a resort in east Biloxi is over. The property Golden Nugget owned has been sold. And the new owner is the Isle of Capri.

Isle executives paid an undisclosed amount of money to buy most of the land between Myrtle Street, First Street, and Point Cadet Plaza. The nearly five acre site is just north of the Isle's Point Cadet casino. The only property in that city block the Isle didn't buy was the old Slavonian Lodge location.

An Isle spokesperson said Biloxi resort executives had no immediate plans for their new property.

Mayor A.J. Holloway called the Isle's purchase good news, because "it shows a strong commitment to Biloxi, and it's a commitment being made by a company that pioneered gaming here in our city and has established itself as an exemplary corporate citizen over the years."

Right after the hurricane, Golden Nugget's parent company made a presentation to the Biloxi City Council. The Landry's group wanted to use Point Cadet property and the land it bought next door to create a casino, restaurants, and a festive boardwalk. The city council said no, in part, because the Isle of Capri's Point Cadet lease gave it the first right of refusal on any development project.

The Isle of Capri is already in the midst of a $180 million expansion at its Point Cadet resort.  The Golden Nugget land purchase is not tied to that expansion.

The Isle also has plans to build another Harrison County casino off I-10 at exit 20.  Isle spokesperson Jill Haynes said those discussions are not impacted by her company's decision to buy the five acres of land in east Biloxi.