Biloxi’s Margaritaville Casino Shuts Down
371 Jobs Lost
Owners of Biloxi, Mississippi’s Margaritaville Casino filed for Chapter 11 bankruptcy protection hours before a hearing at which the landlord sought to seize the property. The casino shut down operations on Monday. The closing eliminates 371 jobs from the Biloxi economy.
The casino, which opened in 2012, licenses the name of the famous Jimmy Buffet song, but the singer is not an owner. Ironically, however, he is listed as an unsecured creditor as he is owed $56,000.
This is the second Mississippi casino to close this year. Harrah’s Tunica Casino & Hotel closed in June, taking with it more than 950 jobs.
“These closings and the loss of jobs should serve as a severe warning to Floridians that expanding gambling is the wrong social and economic policy for Florida” said Paul Seago of No Casinos. “Florida can and should seek out economic development projects that provide high-wage, high-demand jobs and not fall victim to the get-rich-quick promises of casino interests who look to pad their bottom line.”
Margaritaville Casino Biloxi closes Monday, files for bankruptcy Tuesday
By Mary Perez
Sep. 16, 2014
BILOXI — In just over two years, Margaritaville Casino Biloxi went from opening with a live Jimmy Buffett concert broadcast worldwide to closing almost without notice at 10 p.m. Monday.
In less than 24 hours, the management saw the last customers out the door and filed Chapter 11 bankruptcy at 1:19 p.m. Tuesday.
Doug Shipley, the casino general manager, and Tris Mills, the chief financial officer, were subpoenaed to testify this morning in Circuit Court Judge Michael Ward’s courtroom to possibly determine what happens to the building. The bankruptcy filing put on hold all legal proceedings against MVB Holding LLC, the company that operated the casino since it opened in May 2012.