Buffeted Beach Projects

Harrah’s Entertainment’s plan to build a Margaritaville Casino & Hotel in Biloxi, Miss., has been beached but a Florida Margaritaville project has come to fruition.

The $700 million Biloxi development, a partnership between Harrah’s and Jimmy Buffett, broke ground at the former Grand Casino and Casino Magic sites with the goal of opening in 2010. However, construction was halted in 2008 because of the bad economy.

Harrah’s financial situation still hasn’t improved and that project remains in limbo. Regulatory filings said Harrah’s has $19.3 billion in long-term debt as of March 31.

But there’s better news for Buffett and partners in Pensacola, Fla.

The $50 million, 162-room Margaritaville Beach Hotel will open as planned July 1, according to the Pensacola News Journal.

Buffett’s development partner Jim Wiseman told the paper there are plans to open two more Margaritaville hotels in Myrtle Beach, S.C., and Hollywood, Fla.