During a special meeting of the Long Beach Board of Aldermen on Thursday, a unanimous decision was made to restate a lease agreement that will result in the development of a casino in the rare casino-less area along the Mississippi Gulf Coast.
Back in December 2023, the board expressed a commencement of lease negotiations with casino developer Long Beach Harbor Resorts, LLC. The portion of land agreed upon was where the old Kmart stood on Highway 90. However, once the meeting adjourned, a statement was sent out by city officials clarifying that the meeting “marks the initial stage of discussions, emphasizing that no agreements have been finalized.”
During the latest meeting, Mayor George Bass mentioned that all seven aldermen had been given an opportunity to look at the lease, and with an amendment, the agreement to bring a casino to Long Beach could move forward.
“In order to ratify this lease, we need to make a small change and what we ratify today will be in the next regular meeting minutes for final approval,” Bass said. “This is a 40-year lease and once the minutes are ratified at the next meeting, the clock will start. The lessee will have an option to extend twice every 25 years. Additional gaming revenue of $500,000 (will go to the city) for every year once the casino is in operation for one to five years and year six throughout (the life of the lease) up to one percent of gaming revenue.”
Mayor Bass mentioned other figures in the lease agreement and the opening of a potential parkway would increase the rent by .25 percent and an additional clawback, where the lessee can show documentation providing the purchase of the property where the intention is to develop the casino and hotel. Along with this, the closing dates for the purchase was set for March 31, 2025.
City Attorney Stephen Simpson conveyed that changes were made and the current lease presented to the board Thursday was the final draft. If signed, the developer would have to begin construction of a hotel at least three years after the lease is ratified and commence gaming operations no later than five years after the adoption of the lease at the next board meeting.
“My personal thoughts are that this amendment is what we have been working on for eight years,” Alderman-at-Large Donald Frazer said. “This casino development is thinking of the city’s future and making sure that we are not only making a deal for today but for 20 years in the future.”
Following statements and brief discussions, the Long Beach Board of Aldermen unanimously approved the amended lease and announced it would be ratified on December 3.
