Biloxi Casino Sinks

Caesars Entertainment Corp. is ending construction of an unfinished casino on the beach in Biloxi, Miss., after taking a $167.5 million non-cash impairment charge on the project, writing off the money spent on the casino before stopping work in 2008.

Caesars spokesman Gary Thomson told the Sun Herald newspaper that work on the project was stopped at the beginning of the recession and will not be resumed.

Caesars announced the decision in its May 2 earnings report.

Thomson says one proposal is to demolish property and use the leftover materials to repopulate offshore oyster beds. He says a decision is pending.

Caesars says more people visited its casinos in Mississippi and Louisiana in the first quarter of 2012 compared to 2011 but spending per trip declined slightly.